Prime Minister Hon. James Marape has commended American President Joe Biden and Chinese President Xi Jinping on their latest stand on Climate Change mitigation, made at the APEC Leaders’ Summit in San Francisco.

Prime Minister Marape commended the two most prominent leaders of APEC for their firm commitment to migrate from heavy fossil fuel to clean green energy and net zero emissions by 2050.

He said, “I commend President Biden and President Xi for this remarkable step they have taken. They have made a firm commitment to migrate from heavy fossil fuel to clean green energy and a net zero emission by 2050. This is a big commitment, especially for their countries, which depend heavily on the use of fossil fuels.

“Both the United States and China are big carbon emitters with huge environmental footprints, so for them to commit to aggressively shift away from fossil fuel use and extraction is a highly commendable.”

The Prime Minister once more called for access to fair trade among all economies of APEC as a means to combating poverty and the unsustainable use of resources.

“If it wasn’t for industrialization, which has unfortunately become the cause of pollution in the last 100 years and ultimately become the main issue we now face in Climate Change, poverty would have forced the unsustainable plunder of Earth’s resources.

“This is why it is imperative that APEC must ensure that all member countries prosper through fair trade.”

In the area of forest conservation in relation to Climate Change, PM Marape continued to market PNG as a ‘forest nation’, as he did to APEC leaders and at some of his side meetings.

“Climate Change conversations will not be complete without conversations on forests and forestry management. The mitigation efforts must be clearly progressed. The mitigation efforts must be clearly progressed,” he said.

Prime Minister Hon. James Marape on Thursday (16.11.23) attended an APEC Leaders’ Informal Dialogue and Working Lunch, hosted by the United States President, Joe Biden, at the Moscone Centre, San Francisco.

Prime Minister was among leaders of the 20 economies present during the dialogue.

Among them were President of the People’s Republic of China, Xi Jinping; President of the Republic of  Indonesia, Joko Widodo; Prime Minister of Malaysia, Datuk Seri Anwar Ibrahim; and Prime Minister of Fiji, Sitiveni Rambuka who was invited by President Biden to attend the 30th session of the APEC Leaders’ Week Meeting, held from 16-17 November 2023.

APEC is viewed as a platform for leaders to engage in meaningful discussions to map out affirmative action and innovative and sustainable solutions for the Pacific region.

President Biden extended his appreciation to the leaders for attending the APEC Leaders Week.

In his opening remarks, President Biden emphasised the threat associated with Climate Change and reminded leaders of the decisions they make in determining the way countries respond to such threats.

“Every economy around this table faces this challenge — every one of us.  And as I’ve said before, it’s the only existential threat to humanity.  We either get this right, or there’s not going to be a whole lot of people around to talk about it.”

He further emphasised that as a result of climate change and lack of action,  there will be droughts, floods, seas rising, temperatures rising, more unpredictable weather patterns, and more  unpredictable markets.

“As a region, we are  responsible for the largest share of global emissions, so we must also bear responsibility for the solutions while we still have time to change course.”

President Biden had earlier in the week released the Fifth U.S Climate Assessment, mapping out what they have done and how far they have left to go.

He, however, reminded  leaders that by doing things together, they will be able to make any real progress.

 “Any one of us who gets to zero emissions, it’s not going to change the world; we have to do it together.  Only together can we keep the goal of limiting warming to 1.5 degrees Celsius within our reach.”

In reducing emissions, the United States has so far  signed  the Inflation Reduction Act, the largest investment in the climate fight ever, anywhere in the world, and the Bipartisan Infrastructure Law,  the biggest investment in infrastructure in American history, including “clean power” sector.

“Over the last three years, we’ve helped mobilize more than half a trillion dollars in private sector investment, including to scale up technologies like offshore wind, advanced nuclear, clean hydrogen, direct air capture, and more.

“These investments not only put the United States on track to achieve our 1.5 degree alignment goal – aligned goal by cutting emissions by 50 percent by 2030, they’re creating jobs – good-paying jobs, jobs you can raise a family on. 

“And they’re helping lower the cost of clean energy and climate technologies for nations around the world by as much as 25 per cent in some areas.”

 President Biden is aware of the impacts of climate change, adding that it is being felt most by those who have contributed the least to the problem, including developing countries.

He assured leaders of the United States’ support to increase  international climate funding as a result of his country’s contribution to climate threats over the years.

“And this year, the world is on track to meet the climate finance pledge that we made under the Paris Agreement of $100 billion collectively.”

President Biden has also asked Congress for another $25 billion to strengthen the role of the multilateral development banks in fighting the climate crisis, as well as starting with the World Bank.

Aside from climate crisis, the US is also focusing on ending deforestation, as President Biden says, “forests are key to our  future”.

“We’re also working with partners around the table to mobilize $1 billion to conserve the Amazon and other critical ecosystems in Latin America. 

“The Amazon is a great carbon sink; it absorbs more carbon from the air on a daily basis than the United States emits on a daily basis.”

President Biden added that  the United States also ratified the  Kigali Amendment, aimed at  reducing  the production of super potent HFCs.

“The Global Methane Pledge we launched two years ago together with just seven other countries and the European Union has grown to include 150 countries.

“And here at home, the United States is turning this pledge into progress.  We’re investing more than $20 billion in methane mitigation to do things like plugging leaks throughout our oil and gas sectors.

 “ In 2023, these steps, if finalized, will reduce methane emissions from covered sources by 87 per cent below the 2005 levels.

President Biden further  encouraged all  APEC Leaders to  also take strong national actions, because it will take everyone to meet this moment, stating, with  the right commitments from every economy here,  we can limit warming, we can build new energy futures and leave no one behind, and we can turn  this moment  from great peril into a moment of great possibility.

“And the moment where we stood together to protect our people and preserve our planet for future generations, that’s the moment we’re at right now.  That’s the chance we have.  That’s what this session is all about.”

Prime Minister Hon. James Marape officially inaugurated the Fisheries Small-Scale Vessel Monitoring Platform, known as the NEMO tracking system, on Tuesday, November 21, 2023, at Parliament’s State Function Room.

Developed by the National Fisheries Authority (NFA), the NEMO tracking system is a groundbreaking initiative designed to strengthen the management and monitoring of small-scale fisheries across Papua New Guinea. Prime Minister Marape, during the launch, underscored the significance of sustainable fisheries for the economic development and well-being of coastal communities.

Prime Minister Marape stated, “Our marine resources are invaluable assets that need to be managed sustainably to ensure their availability for future generations. The NEMO system will play a crucial role in monitoring and regulating small-scale fisheries, promoting responsible fishing practices, and safeguarding the livelihoods of our coastal communities.”

The introduction of the NEMO system represents a substantial leap forward in the management of small-scale sustainable fisheries in Papua New Guinea, reaffirming the government’s commitment to responsible resource management, environmental conservation, and the well-being of coastal communities.

The NFA and the government will collaborate closely to ensure the seamless implementation and continued support of the NEMO system nationwide. This comprehensive system incorporates electronic reporting devices, vessel monitoring systems, and data management tools.

These cutting-edge technologies empower small-scale fishers to accurately report their catch, monitor fishing activities, and adhere to regulations. The data collected through the NEMO system will also support scientific research, fisheries assessments, and the development of evidence-based policies.

Beyond its environmental benefits, the NEMO system is expected to contribute significantly to the socio-economic development of coastal communities. By promoting sustainable fishing practices, the government aims to enhance the long-term viability of small-scale fisheries, improve fishery yields, and create new economic opportunities for local fishers.

Prime Minister Hon. James Marape recently engaged in bilateral discussions with Palau President H.E. Surangel Whipps and Solomon Islands Prime Minister Hon. Manasseh Sogavare on the sidelines of the XVII Pacific Games in Honiara.

Upon returning from Honiara, where he attended the opening ceremony on Sunday, November 19, 2023, Prime Minister Marape highlighted the central focus of the talks – the strategic development of the fisheries sector.

Prime Minister Marape expressed optimism about the Pacific region emerging as a significant force in global fisheries, presenting a united front against illegal activities and promoting sustainable practices.

“In our conversations, we concentrated primarily on the area of fisheries,” stated Prime Minister Marape.

“I firmly believe that our economic prominence lies in the fisheries sector.”

Addressing the critical importance of the Pacific region in global tuna supply, he emphasised, “When you put together Palau, Solomon Islands, Marshall Islands, Federated States of Micronesia, Nauru, Kiribati, and Papua New Guinea – that’s 60 per cent of the world’s yellowfin tuna supply.”

Commending Fisheries Minister Hon. Jelta Wong, Prime Minister Marape acknowledged the role played by Papua New Guinea in fostering growth in Pacific fisheries. “Minister Wong has received accolades from both Palau and Solomon Islands for his significant contribution to the development of fisheries in the Pacific,” he added.

Expressing the commitment to fortify the sub-region’s fisheries, Prime Minister Marape mentioned, “We have the Pacific Marine Industrial Zone (PMIZ) in Madang, and other areas, where we can bring the catch of the region onshore and process for export overseas. Our goal is to eliminate illegal fishing in our waters and form a super-bloc that controls tuna fisheries in this part of the world.”

Prime Minister Marape underscored the shared responsibility of Pacific countries in safeguarding the region’s marine resources and emphasised their collective stance against deep-sea mining. “We envision the Pacific region as a major producer of tuna and other marine resources,” he said.

As part of the broader strategy, he outlined, “We want to produce for both domestic consumption as well as supply to the big Asian market, Europe, and North America. Our aim is to unite Western Pacific nations as a powerful bloc to assert control over our fisheries resources, particularly tuna, in the first instance.”

The Central Provincial Assembly sat for its third assembly meeting and presented its Ministerial Statements on Friday 16th of November on the floor of the Central Provincial Assembly chambers.

Two most notable statements presented were the Central Provincial Government’s (CPG) Revenue and Expenditure Performance against the 2023 Annual Budget with key initiatives undertaken to support Central Province’s socio-economic growth and progress along with the Works and Transport statement.

In her capacity as chairlady for Finance, the Governor for Central Province Hon. Rufina Peter presented a favourable report amid the backdrop of rising prices of fuel and basic goods and services attributed to both international and domestic factors including the shortage of foreign currency, rising inflation and Russia-Ukraine war.

“Central Province has remained resilient and focused in our efforts to diversify the revenue base and for our local economy. We in the Central Province have some major developments projects in PNG such as the PNG LNG Project and have benefited from the revenue from the PNG LNG,” Governor Peter said.

She also revealed that the CPG is now working on some major economic projects that will change the economic landscape of the province.

These projects include the Papua LNG Project, which is at the preparatory stages. By the first quarter of 2024 an invitation to the Development Forum for the Papua LNG Project is expected, to negotiate with other key stakeholders including Gulf Provincial Government and the National Government.

Central Province will maximise its benefits as host to these two LNG projects along with the Kido Limestone Project, Tolokuma Gold Mine, the Forest operations in the Abau District and the Connect PNG Project.

In her statement, Governor Peter admitted that her government has not fully tapped into the renewable resources of agriculture, tourism and fisheries to commercially develop these industries.

“We are working together with the National Government and its agencies, and other key partners on new initiatives to expand our economic base on agriculture, fisheries and tourism projects such as the expansion of Rigo rice business model, the Goilala Coffee and Cocoa Development Projects in the coastal regions, and the Special Economic Zones (SEZ) for a couple of potential sites in the province.”

While Governor Peter has been hard at work initiating these projects for the effective revenue generation for the province to sustain the provision of public goods and services, consistent maintenance of existing infrastructure and developments of new infrastructure, the Governor revealed that more needs to be done by the CPG.

“I must be honest to highlight that in the last couple of months, I have found out that our service delivery mechanisms, especially the bureaucracy of the Central Provincial Administration (CPA) is very slow in collecting and generating revenue. CPG is and will continue to do its part to improve our governance processes for and the revenue collection and generation.”

Highlighting CPG’s revenue and expenditure, the Central Governor presented the following figures.

“From the total approved budget of K191, 267, 173, and the revised budget of K210, 547, 230 the total actual received to date is K136, 940, 883. This comprises of (i) iInternal rRevenue, (ii) Recurrent (Functional Grant Transfers) and (iii) Development Grants.”

The Governor called on the Assembly to stand united and deal with corruption, incompetencies, inefficiencies, insubordination and lack of professionalism, for fear of failing to perform duties and responsibilities as public servants and political leaders of today.

“When we do fail to perform our duties and responsibilities, we do injustice to the people and businesses of Central Province, not just today but for generations to come,” she said.

Following the Governor’s presentation of the financial report, elder statesman and Abau MP Sir Puka Temu commended Governor Peter.

“In my 20 years here in this Assembly, this is the first time that a sitting Governor has presented a financial report to this Assembly. Governor, it’s comforting to know the status of the budget and I want to commend you on the excellent work you have done.”

Sir Temu called for tougher penalties when he drew reference to Governor’s concluding remarks on corruption and ineffeciencies with the CPA.

“Governor, I want to suggest that stronger penalties are due, I am tired of hearing that the Governor has allocated funds and directives for work to be carried out and nothing is done by the Provincial Administration.”

“This has to stop and we cannot allow this to continue, we need to find out where the problem is and get a surgical knife and cut it out, I suggest a one-to-three people ‘razor team’ to find out why this is happening, because I do not want to come back in 2024 and see that Governor has done her part but nothing has been done by the administration so all you heads of divisions, take note.”

Other statements presented were the Works and Transport Statement, including the Tourism Statement and the Commerce and Extractive Industry Statement.

The Central Provincial Assembly adjourned to the 19th of December for their final sitting for the passing of the 2024 Budget.

Jerilai Pujari Holdings Limited (JPHL) and OM Holdings Limited (trading as Oilmin Field Services- OFS), have jointly announced their partnership, resulting in the establishment of Jerilai Pujari Field Services Limited (JPFSL) with an equal 50% ownership stake with equal representatives from both companies sitting on the JPFSL Board.

In 2014, the 11 clans which own the lands comprising PRL15, the licence area for the Papua LNG Upstream Project, formed Koko Nene Henaru Resources Limited (KNHRL) to represent their commercial interests. As the Papua LNG project has evolved, so too has KNHRL, which recently rebranded as Jerilai Pujari Holding Limited. (JPHL). This new entity continues to represent the commercial interests of the PRL15 clans and has begun seeking out strategic partnerships to deliver meaningful, generational change to the people and communities of PRL15.

Oilmin Field Services originated in the Highlands of Papua New Guinea and has evolved into a prominent leader in the field services sector, Oilmin proudly boasts a track record of over three decades of successfully executing projects for major Oil and Gas clients throughout PNG. A cornerstone in Oilmin's history can be attributed to its extensive 15-year history operating in the Gulf Region and PRL15. Beginning with Chevron during early exploration, Interoil during initial growth and culminating with TotalEnergies as the current Operator, Oilmin has been a constant presence in the region working with local communities and clients alike. The Oilmin Board recognised the opportunity of a Joint Venture, to further cultivate the enduring trust and shared values that have been developed over the years between Oilmin and the PRL15 communities and its people.

Mr. Jomu Peniai, Chairman of the JPHL Board and a Director on the Board of JPFSL, expressed confidence in the partnership with Oilmin “If you look back; when Interoil was active in the PRL15, Oilmin was already there (as a contractor) even though TotalEnergies has taken over and has now established itself in the PRL15 area, Oilmin still remains as a contractor to the major companies, that shows that Oilmin has set a benchmark that is difficult to compete with”

JPFSL has been contracted by TotalEnergies EP PNG Limited (TEPPNG) to provide all Camp Management, Catering, and Maintenance Services for in excess of 400 personnel at its main Logistical Base, Herd Base. This contract also extends to the Supply of Remote Temporary Camps and associated Labour Hire.

Mr. Graham Leo, General Manager of JPFSL, underscored the JPFSL Board's vision to establish itself as the leading Catering and Camp Management Company with an aim to bring about real generational change to the people and communities of PRL15. JPFSL has successfully obtained internationally recognised ISO Certifications for Food Safety and Quality Management Systems, a reflection of our commitment to hold our company to a higher standard.

With a focus on the people of PRL15, JPFSL is committed to offering accredited training and development programs designed to equip our workforce with globally acknowledged qualifications. These qualifications not only enhance career prospects within JPFSL but also provide transferable skills.

For the local communities, the Camp Catering Contract represents a potential avenue for local farmers to supply their produce while also creating opportunities for the expansion and diversification of their business as JPFSL secures additional Catering and Camp Management Contracts.

Mr Leo added “The future of JPFSL is looking promising with the upcoming Papua LNG Construction phase over the next 5 years. The construction phase presents JPFSL with a unique opportunity to continue building capability and lay the foundation for future generational growth for the peoples and communities within PRL15.”

BHP have recently changed suspension suppliers, fitting Terrain Tamer Parabolic Leaf Springs to the fleet of Toyota Hilux servicing their light vehicle needs in the Western Australia Iron Ore mining hubs in the Pilbara region of northern Western Australia.

Having tested the springs in their facilities for the past 2 years, BHP have confirmed preference for the Terrain Tamer Parabolic Leaf Springs and, having started with an initial 25 new Hilux Utes, intend to fit more to both their future and existing fleet.

Containing fewer leaves than standard leaf packs, Terrain Tamer’s Parabolic Springs were released in 2018 and get their name from their tapered ‘parabolic’ design, which is thicker in the centre and thinner toward the ends, rather than the usual linear style.

The design directly addresses issues that come with traditional leaf packs being thick, heavy, and clunky, essentially making them more difficult to fit to a hoisted vehicle and adding to the weight of vehicles that are often dangerously close to their GVM limit.

Reducing the unsprung weight of the vehicle not only frees up weight for practical use, but also acts to create a quieter and more comfortable ride whether the vehicle is empty or loaded.

Traditional leaf springs can also be uncomfortable, loud and can create a safety issue, offering little to no flex when a driver hits a bump, or finds themselves in a rough situation, with the rigidity of the pack causing the opposite wheel to lift and lose traction, effectively endangering the driver.

The flex afforded with a Parabolic Spring allows it to give a little, allowing the differential housing to rotate with the springs and effectively providing a smoother ride, reducing the shock transferred to the crown wheel and pinion, stopping the wheel from spinning, and maintaining safety and drive. The same force with a standard leaf pack would almost certainly cause more shock to the vehicle and driver.

Essentially, Terrain Tamer Parabolic Springs use new technology on an old trucking design idea to provide a quieter, more comfortable ride with a strength not afforded to traditional springs.

The springs are available for a range of popular Hilux and Landcruiser vehicles, as well as Ford, Mazda, Mitsubishi, Holden and Isuzu models, and have become so popular in recent times that the range has been expanded to include Heavy Duty, Extra Heavy Duty and Armoured versions, for vehicles used in military and mining applications requiring a load of up to, and in some cases upward of 700kg.

Weir, a global mining technology leader, is delighted to partner with CEEC International (CEEC) to drive sustainable innovation and improve productivity in mining. In addition to renewing its support as a premium sponsor, Weir will participate in CEEC’s newly launched Global Water Initiative, a groundbreaking collaboration to drive action to ensure responsible water use within the industry.

Water is fundamental to the way in which minerals are processed. However, in some parts of the world there is not enough, and in some parts there's too much. So mining needs to use water wisely. Weir understands this and is developing tailored solutions to help the industry increase water recovery and recycling rates and, where possible, introduce water-free steps within mining processes.

The Global Water Initiative is a critical step towards addressing water management and risk mitigation in mining and the wider resources sector. The initiative, which will drive collaboration and knowledge exchange across industry experts, seeks to build a shared understanding, identify gaps, and outline necessary actions to solve water-related challenges, prioritise sustainable water practices, and support overall improvements in ESG performance.

Andrew Neilson, President of the Minerals Division at Weir, said:

"We are delighted to continue our partnership with CEEC International as we innovate to help our customers provide more of the metals society needs, in more sustainable ways. Water management is an increasingly critical issue in mining and we are excited to work with other stakeholders to drive positive change as part of the Global Water Initiative.”

Janine Herzig, Executive President of CEEC International, added:

"The Global Water Initiative is a vital platform to collectively address water-related challenges within the sector. We are excited to have Weir actively participating in this initiative, which will undoubtedly drive positive transformation in water management practices."

CEEC is an independent global not-for-profit committed to accelerating the adoption of ecoefficient minerals and metals production practices. The objectives of Weir align closely with CEEC's own vision and mission, actively working to provide minerals and metals to society with minimal environmental impact, particularly in terms of water management, emissions, and waste.

CEEC International and Weir invite and encourage industry stakeholders to join the initiative, contribute to the discussions, and collectively shape a more sustainable future for water management within the resources sector.

The 21-member economies of the Asia-Pacific Economic Cooperation (APEC) have since progressed meetings on issues concerning the Asia and Pacific regions.

Papua New Guinea’s participation in the two-day APEC Ministerial Meeting (AMM) prior to the APEC Economic Leaders’ Week (AELW), highlighted issues concerning not only PNG, but the rest of the Pacific Island nations.

State Minister Assisting the Prime Minister, Hon. Justin Tkatchenko presented issues of the Pacific region, which included fisheries, agriculture, increase in women populations with untapped economic potential, Small & Medium Enterprises (SME), Micro Small and Medium Enterprises (MSME), protection of intellectual properties and indigenous owned businesses.

While the APEC meeting progressed, Papua New Guinea’s Minister for Labour & Employment, Hon. Kessy Sawang met with the Chinese Vice Minister for International Trade, Hon. Wang Shouwen on Tuesday (14/11/23) and discussed matters on trade of both economies.

Minister Sawang stepped in to represent Minister for Trade, Hon. Richard Maru in the bilateral meeting.

On the evening of Tuesday, Prime Minister Hon. James Marape and wife Mrs Rachael Marape arrived and were received at the San Francisco International Airport.

On Wednesday (15 November – US Local Time), Prime Minister Marape met with members of the American business community, which included US Chamber of Commerce, CORA Global Project, Renew West, ExxonMobil, Source Global, and US International Development Finance Corporation on the margins of APEC Leaders Summit. In the evening, the Prime Minister and Mrs Marape joined fellow leaders and their spouses, and selected guests for the Welcome Reception at the Exploratorium Pier 15.

At the reception, Prime Minister Marape was warmly welcomed by US Vice President, Hon. Kalama Harris.

President of United States of America and Chairman of APEC 2023, Hon. Joe Biden welcomed all economy leaders and guests to San Francisco.

On Thursday 16 November, Prime Minister Marape met with leaders of Fiji and Indonesia in a trilateral meeting before attending the APEC Family Photo session.

Following the session, the Prime Minister attended the APEC Economic Leaders’ Informal Dialogue and Working Lunch with guests.

At 3pm Thursday (local US time), the Prime Minister had a bilateral meeting with the US Secretary of State, Antony Blinken, before attending the opening of ABAC Dialogue with the APEC Economic Leaders.

In the evening of Thursday, Prime Minister Marape and Mrs Marape attend the APEC Economic Leaders’ Dinner at the Legion of Honour, an Art Museum in San Francisco City.

The US Chamber of Commerce (USCC), the world’s largest business federation and biggest lobby group in the United States, will work at helping to find investors for Papua New Guinea, Prime Minister Hon. James Marape was told.

USCC Executive Director – South East Asia, John Goyer said this when he met with Prime Minister Marape on the sidelines of APEC Leaders Meeting in San Francisco.

Prime Minister Marape said he was thankful for these doors of opportunities opening through the networking of USCC, adding that he looked forward to working with the Chamber and its global affiliates to bring investors into PNG.

The discussions were had during PM Marape’s meeting with USCC on the sidelines of the APEC Leaders’ summit.

The Prime Minister used the opportunity to market PNG as an ideal investment destination in Climate consciousness and forest conservation, food security, and the advantage with PNG’s location in relation to Asia.

He pointed out two of America’s biggest energy companies in PNG – ExxonMobil and the recently-arrived Newmont – which he said were testament to the country’s ability to welcome and host investors, especially big leading ones.

He said, “ExxonMobil has been in PNG for 100 years now; it has a big presence in our country, while Newmont is America’s Number One mining company. So from them, our energy produces find spot markets in Asia much quicker than from Africa and the Middle East.

“But below this, we also want manufacturers here and will welcome companies who want to take up station, produce to send back to USA, or going forward, to the Asian markets. We want a free flow of investors taking up residence in our country.”

Prime Minister Marape also pointed out existing carbon-offsetting opportunities in PNG and invited environment-conscious investors looking at forests conservation as a Climate Change mitigation strategy.

Mr Goyer, in turn, assured the Prime Minister that USCC would assist by connecting investors to PNG and its government.

He said, “We are keen to have those kinds of conversations and I think the Chamber, by virtue of what we do, is well-placed to convene these sorts of gatherings for you and create those opportunities for PNG.

“We work very well with American Chambers (AmCham) around the world – there are 125 or 130. We haven’t had much interaction with PNG except with the Coral Sea AmCham, so I am keen to see what we can do to increase that cooperation to promote investments in PNG.

“We are keen to work with you to find ways to do what you laid out in bringing in more investments.

“ExxonMobil is a longstanding member of USCC, and I think companies like ExxonMobil, Newmont and others – because they are already in your country – are your best salespeople in terms of promoting investments and opportunities in Papua New Guinea.

“We will be happy to work with you to facilitate that, organize forums, where they too can help to make the sale, so to speak, on PNG,” he said.

Founded in 1912, the US Chamber of Commerce is reported as the world’s largest business federation representing nearly 3 million companies, 2800 state and local chambers, 830 business associations and over 100 American chambers of Commerce abroad.

It advocates for policies and an enabling environment for the growth of businesses and the strengthening of economies where it is based.

The American Chamber has a young branch in PNG called AmCham Coral Sea founded in 2022 that covers PNG, Solomon Islands and Vanuatu. It’s Executive Director Mr Materua Tamarua was instrumental in linking the USCC to the prime ministerial team during the APEC Leaders Week, including meetings with the American private sector.

Prime Minister Hon. James Marape has met with the United States International Development Finance Corporation (DFC), America’s development finance institution that funds private sector-based projects and businesses right across the world.

The Prime Minister met with Scott Nathan, Chief Executive Officer of DFC, in San Francisco on the margins of the Asia-Pacific Economic Cooperation summit as he ended his meetings with members of the American business community.

Nathan, who was appointed by President Joe Biden himself to the role and confirmed in 2022 to head the American federal government agency, laid out the availability of DFC in financing businesses and developers of the Private Sector in countries interested in bettering themselves and their communities.

DFC scope covers Infrastructure, Energy, MSMEs, women’s economic empowerment, Agriculture, Health care, Forestry, Fisheries and other nature-based solutions. DFC also operates within a framework that promotes high standards through the observation of labour rights, and environment and social impacts.

While highlighting President Biden’s “big priority” to involve Papua New Guinea and other Pacific Island nations into the reach of DFC, Mr Nathan admitted that DFC should do more to increase its visibility in PNG and the Pacific.

He also revealed that the agency has only very recently (last week) put out its latest ‘Expressions of Interest’ and “would love to have businesses from your country respond”.

He said, “It is a big priority for President Biden and the US Government to be more involved in and partner with Pacific Island nations. From our perspective, PNG is the place for us to do that because the other economies are too small for us to make that kind of investment.”

Prime Minister Marape was particularly interested in finding out about financing in the energy/power supply space, as well as in Agriculture, Forestry, and Fisheries areas, and welcomed DFC’s presence in PNG.

Already the agency has a small project in PNG which is in partnership with Mi Bank and Mr Nathan said DFC was looking forward to seeing this expand further.

Some big capital investment projects DFC has successfully funded in the recent past include the assistance to Australia in the financing of Telstra’s purchase of Digicel assets, a USD553 million port development in Sri Lanka (a private-public partnership project), and a USD24 million forestry project in Africa.

DFC only deals in the private sector, business and entrepreneurship development according to its charter, and stays away from government projects, unless the project is operated as an independent business away from government handling.

This meeting with the Prime Minister is a follow-up to an initial meeting DFC had with Pacific Island Forum leaders when PM Marape and his counterparts were in Washington DC to meet with President Biden for the first US-PIF summit a year ago.

PM Marape is now putting the agency in touch with the relevant ministries and arms of government to progress this further.

Ten high-performance students from the PNG University of Technology and the University of Papua New Guinea have been selected to be involved in an immersive 11-week industrial training program with Ok Tedi Mining Limited (OTML).

The trainees from UNITECH (7) and UPNG (3) are third-year undergraduates under OTML’s Undergraduate Students Scholarship (USS) program.

The trainees are embedded in various departments aligned with their academic disciplines, ensuring a hands-on experience gained to complement their classroom-based learning.

These departments include Processing Mechanical Maintenance, Engineering & Roads, Power Services, Process technical Services, Mine Production, Environment and Geology & Exploration.

Manager Training & Development, Ian Strachan, said, “This is a unique opportunity for these students to bridge the gap between theory and practice. We aim to provide them with an environment where they can apply their knowledge in real-world scenarios, setting the stage for a successful career.”

“There starts here – this is the start of your working journey,” added Mr Strachan.

General Manager People & Culture, Mark Stone, congratulated the trainees on being selected for the scholarship program and encouraged them to seize every moment of the experience.

“This is more than a training program; it’s a chance for you to apply what you have learnt at university in the day-to-day operations of the industry, learn on-the-job from the best and forge connections that will support your future career” he remarked.

Whilst the industrial training ends in January 2024, trainees who achieve a GPA of 3.5 or above in their final academic year may have the opportunity to join the Graduate Development Scheme (GDS) program, another stepping stone towards realising a career within the company.

Papua New Guinea’s peak body representing the mineral, resources and energy sectors on 13 November officially announced its new name and unveiled its new logo.

The former PNG Chamber of Mines and Petroleum (“The Chamber”) has formally transitioned to its new name, the Papua New Guinea Chamber of Resources and Energy (“PNG CORE”), following the approval of this change by its membership at a recent Special General Meeting.

According to PNG CORE Chief Operating Officer, Pansy Taueni-Sialis, this change is timely, as PNG positions itself as a leader the global resources and energy market.

“Since our incorporation as an Association in 1987, the PNG Chamber of Mines and Petroleum has enjoyed a cordial relationship with Government, industry, and our stakeholders.

“With the changing landscape in industry, the Chamber Council realized the need to adapt to the changing global environment. And with industry focusing more on cleaner, greener energy sources, the need to have this change was highlighted.

“The decision to change the name to PNG CORE was approved by the Chamber Council earlier this year, and the recent endorsement by our Membership ratified this decision, enabling the Secretariat to under this new name of PNG CORE.

“This change also reinforces our commitment to working together in collaboration with all stakeholders across Government, private sector, and civil society,” Taueni-Sialis said.

Chamber Councilors, Santos Country Chair PNG Leon Buskens, and Harmony Gold PNG Executive General Manager Stakeholder Relations & Corporate Affairs Kepas Wali officially announced the name change to PNG CORE to Government stakeholders, and member representatives this morning.

According to Councilor Buskens, this signified the commitment of industry to adapt to the changing global trends, to enable PNG to remain on part with other economies in promoting closer collaboration and progress.

“Today is a significant moment in our nation’s history, as the Chamber moves forward under the PNG CORE banner.

“It is timely, especially as the country stands on the cusp of a new wave of increased opportunities within our industries, with major decisions set to be announced in the near future.

“The Chamber’s efforts in promoting collaboration between government, industry and other stakeholders has never been better, and has allowed significant progress to be made in recent times.

“We’d like to acknowledge the leadership of the Chamber Council, led by President Anthony Smaré, colleague Councilors, and the Secretariat, for setting the foundation for these developments.

“Under PNG CORE, we are committed to working together for the benefit of Papua New Guinea,” the group’s statement ended.

Prime Minister Hon. James Marape officially confirmed that Papua New Guinea will take part in the 2025 Osaka World Exposition in Japan, an event set to host 150 countries and 25 international organisations.

Prime Minister Marape emphasised that PNG's participation in this global event will have a significant impact, leading to diversification in the export market and an inflow of capital.

He stated, "This presents a remarkable opportunity for us to promote our nation as a prime tourism and investment destination. It will also enable us to showcase the high-quality products that we are ready to export to the world, including our renowned coffee, cocoa, vanilla, kava, taro, marine products, unique items from our fashion industry, and many more."

The Prime Minister further disclosed that the government has allocated funding in the 2024 National Budget to facilitate Papua New Guinea's participation, including the establishment of the PNG Pavilion.

Additionally, Prime Minister Marape announced the appointment of His Excellency Peter Vincent, PNG's outgoing Ambassador to Malaysia, as the Commissioner-General of the PNG Pavilion. He expressed confidence in Mr. Vincent's ability, citing his extensive experience with Air Niugini, as CEO of the Tourism Promotion Authority, and his role as Ambassador to Malaysia, to lead the efforts in setting up the pavilion and effectively promoting the country and its products at the expo.

The National Expo 2025 Coordination Team or Secretariat will be chaired by the National Trade Office. The coordination team will consist of representatives from the departments of Prime Minister and NEC, Commerce and Industry, Treasury, Finance, National Planning and Monitoring, Justice and Attorney-General, Foreign Affairs, and International Trade and Investment.

Prime Minister Marape concluded by stating, "The political oversight committee will be headed by Minister for International Trade and Investment, Hon. Richard Maru, and will include ministers for Treasury, Commerce and Industry, and Foreign Affairs."

Prime Minister Hon. James Marape, on Wednesday, November 8, 2023, expressed his heartfelt appreciation to outgoing Australian High Commissioner H.E. Jon Philp for his immensely productive four-year tenure in Papua New Guinea. Mr. Philp, who began his eventful tour of duty in early 2020, marked the conclusion of a tenure that has significantly contributed to the strengthening of bilateral ties between Australia and Papua New Guinea.

During his tenure, Mr. Philp demonstrated remarkable commitment by visiting all 22 provinces of Papua New Guinea and presiding over the inauguration of numerous projects of national significance. His efforts have been pivotal in cultivating stronger diplomatic relations between the two nations.

Prime Minister Marape said, “Australia-Papua New Guinea relations have greatly flourished over the past four years, thanks to Mr. Philp’s stewardship, a contribution for which the nation is profoundly grateful. This includes substantial Australian support to our national budget.

 “For the first time in the 48 years since Papua New Guinea gained its independence from Australia, an Australian Government and Prime Minister have addressed all outstanding issues between our countries. Australian Prime Minister, Hon. Anthony Albanese, visited Papua New Guinea in January, addressing our Parliament and paying respects at the burial site of Sir Michael Somare in Wewak. This was followed by the highly successful 29th Australia–Papua New Guinea Ministerial Forum held in Canberra in February.

 “Papua New Guinea extends its deep appreciation to the Australian Government for its support of our aspiration to become the 18th team in the Australian NRL. All of these milestones and more have been achieved during Mr. Philp’s tenure as the Australian High Commissioner.”

Prime Minister Marape affirmed that the enduring relationship between Australia and Papua New Guinea remains remarkably strong and unique. He expressed confidence that this partnership will continue to thrive in the future. In closing, he extended a warm invitation to Mr. Philp, assuring him that he will always have a home in Papua New Guinea and is welcome to return at any time.

Prime Minister Hon. James Marape announced today that the government has granted initial approval for the establishment of a Rice Special Economic Zone (SEZ) in the country. This groundbreaking development may include a joint venture between the State and Rigo Rice.

Prime Minister Marape underlined the government’s commitment to kickstart a substantial commercial rice industry within the next five years, with the goal of replacing the country’s annual rice imports, valued at over K900 million.

Furthermore, Prime Minister Marape disclosed that the government has taken the decision to commence negotiations for a joint venture between the State and Rigo Rice, which will focus on large-scale commercial rice farming, initially in Rigo, Central Province, Sepik Plains in East Sepik, and other regions across the country.

To facilitate this, a State Negotiating Team has been appointed by the National Executive Council. This team will be chaired by Mr. Dairi Vele and will include key representatives such as Hon. Rufina Peter, Governor for Central Province, Mr. Daniel Rolpagarea, State Solicitor, Mrs. Jacinta Warakai-Manua, Acting Secretary for the Department of International Trade and Investment, Dr. Sergie Bang, Secretary for the Department of Agriculture, Mr. David Ganaii, Secretary for Department of Commerce and Industry, Mr. Allen Kukwin Hula, Legal Officer for Ministry of International Trade and Investment, Mr. Robin Wingwafi, Technical Consultant and Rice Scientist, Dr. David Kavanamur, Managing Director of Kumul Consolidated Holdings, Mr. Andrew Oaeke, Secretary for Department of Treasury, and Mr. Benjamin Samson, Secretary for Department of Land and Physical Planning.

Prime Minister Marape stressed the significance of this national project, stating, “The government places the highest priority on this initiative and is eager to see the State Negotiating Team conclude negotiations for a joint venture between the State and Rigo Rice, which will be established without delay to nurture our domestic rice industry.”

He emphasised the need to reduce the country’s reliance on rice imports, which currently stands at over 400,000 tonnes annually. 

“To achieve self-sufficiency, it is estimated that more than 100,000 hectares of rice need to be cultivated’” Prime Minister Marape said.

“The government aims to realise this through a joint venture with Rigo Rice, commencing with the development of 6,000 hectares of unused State land in Rigo before expanding to other regions, including Central Province, the Sepik Plains, and other parts of the nation.

“This initiative aligns with our government’s focus on import replacement, wealth creation for our citizens, and the generation of numerous employment opportunities for our people.”

Prime Minister Hon. James Marape said that the Government is expected to make a major announcement concerning the Wafi-Golpu Mine project in Morobe. This eagerly awaited announcement is set to take place during the forthcoming PNG Mining and Petroleum Conference scheduled for next month in Sydney, Australia.

The Prime Minister said this during a press conference held earlier today, where he officially extended a warm welcome to Newmont Corporation, the world’s foremost gold company, into Papua New Guinea. Newmont Corporation has assumed control over all Newcrest operations in Papua New Guinea, including the Wafi-Golpu project.

“We’re now at the stage where the principle of what constitutes the Mine Development Contract (MDC) and Special Mining Lease (SML) is waiting to be agreed upon,” Prime Minister Marape said.

“We want to have these two key documents ready at the same time, and we’re hoping that at the December Mining and Petroleum Conference, we will make an announcement to the market.”

Expressing his confidence in the process, Prime Minister Marape noted that stakeholders were able to successfully collaborate in creating an MDC and SML for the Porgera Mine in Enga, and he believes that similar progress can be made for the Wafi-Golpu project.

In recognition of the collaborative efforts, Prime Minister Marape expressed his gratitude to Wafi-Golpu partners Harmony, Newmont (formerly Newcrest), and Kumul Mineral Holdings for their commitment to working within a defined timeline.

Prime Minister Marape revealed that a 36-month timeline has been stipulated for the partners to reach a Final Investment Decision, underscoring the State’s vested interest in advancing this pivotal project.

“We want to make some good announcements at the mining conference in Sydney,” he said.

The Papua New Guinea Chamber of Mines and Petroleum (“The Chamber”) participated in the recently concluded National Development Forum.

The Forum, organized by the Consultative Implementation & Monitoring Council (CIMC), brought together stakeholders from across the public and private sectors, as well as civil society and development organizations, to present on topics under the theme “Measures to Achieve the MTDP-IV Objectives for a Better PNG”.

Chief Operating Officer Pansy Taueni-Sialis delivered the Chamber’s presentation titled, "Sustainability and Optimization of benefits must underpin prudent management of non-renewable resources".

Ms. Taueni-Sialis highlighted the importance for greater collaboration between industry, government, and stakeholders, to collaborate closely, throughout the life of MTDP-IV with emphasis on ensuring sustainable development of the non-renewable resources beyond MTDP-IV

“The extractive resource sectors have for many years formed the foundation of economic and social development in communities, especially in and around project areas. In many resource project areas, project developers often play a leading role in ensuring critical services of health, education, and infrastructure are maintained, so that communities benefit.

With the National Government recently launching the Medium-Term Development Plan IV (MTDP-IV), industry stands ready to partner, for the benefit of Papua New Guinea.”

Although not being privy to discussions leading up to the formulation and development of MTDP IV, the Chamber recognizes the importance of industry to work together with Government, and stakeholders, for a better PNG.

As PNG prepares for the next wave of development in the resources and energy space, we acknowledge the need for closer collaboration to working together to achieve common targets within MTDP-IV, for the benefit of Papua New Guinea.

The Chamber acknowledges progress made by the Marape-Rosso government in working closely with respective project stakeholders, including developers and landowners, to address issues to progress projects. The successful reopening of Porgera mine and the development of Papua LNG projects are expected to support the achievement of MTDP-IV.

To optimize benefit streams, as well as promote sustainable development, particularly in regard to the country’s resources and energy industries, it is highly recommended that clear targets and guidelines be set for the allocation of extractive sector proceeds towards priority sectors such as education, healthcare, infrastructure and sustainable economic diversification. Alignment of investor-friendly sectoral policies can be developed with meaningful consultation based on principles of good governance and anti-corruption, social safeguards, environmental safeguards and local content and diversification, recognizing that communities must be empowered through capacity building initiatives. With the need for enabling infrastructure that can support economic development.

Ms. Taueni-Sialis was joined by Ok Tedi Development Foundation (OTDF) Chief Executive Officer Havini Vira, and PNG Extractive Industries Transparency Initiative (PNGEITI) Secretariat Deputy Director Christopher Tabel to present on a session with the sub-theme of “Strategies to prudently manage extractive sector proceeds to achieve the 2027 target” of MTDP-IV.

The global financial landscape has seen a rapid transformation in the last decade, driven by a growing emphasis on environmental sustainability. In this new era, institutions, businesses, and individuals are increasingly recognising the rewards from integrating environmental, social, and governance (ESG) factors into their investment decisions.

This commitment is clear even as external conditions weigh on broader market activity. Global green, social, sustainability and sustainability-linked (GSSS) loan and bond issuance totalled $US338.4 billion in the first quarter 2023. Issuance volume recorded only a small decline of 1 per cent quarter-on-quarter compared to the fourth quarter of 2022, driven by the bounce back in fixed income markets.

The total global GSSS market now exceeds $US6.15 trillion and is on track to be worth more than $US50 trillion by 2025, according to Bloomberg.

Sustainable finance is a key way companies can meet their net zero goals. As a result, what was once a question of ‘why should we engage in sustainable finance?’ has now transformed into ‘how can we implement a sustainable finance strategy?’.

When transition really happens

At ANZ, our conversations with customers now look to answer questions like ‘is our business ready for it?’, ‘is our sustainability strategy ambitious enough?’, or ‘what kind of investor diversification am I going to get?’.

Another increasingly common question is ‘will this improve our access to capital?’.

The answer to that is very clear. Access to capital has become a key driver in sustainable finance. Corporate treasurers in Australia, and indeed the AsiaPacific region, are beginning to understand the strong connection between a sustainability strategy and access to capital, as well as its role in helping them deal with risk mitigation, compliance with existing and future regulations.

This success of the transition to net zero relies on the crucial combination of willpower and access to the necessary means. That's where ANZ can support customers across the Asia-Pacific region. It is important we have targets to drive activity and impact, but also the financial means to support energy transition plans.

Where to from here?

The key drivers for sustainable finance issuance in the short to medium term are likely to be broad. How policy and regulatory initiatives develop will be critical, as will the development of updated market principles, guidance, and disclosure frameworks.

The latter, in particular, will provide important further clarity and broader scope for sustainable finance, for example in the areas of biodiversity and natural capital. In addition, continued innovation in sustainable-finance instruments will help borrowers achieve their sustainability goals.

Identifying opportunities

ANZ is playing a key role in the shift supporting its customers in their transition to a low-carbon and more sustainable economy by encouraging them to identify climate risks and opportunities, create or further strengthen existing transition plans and report publicly on their progress.

The bank has set a target to fund and facilitate at least $A100 billion by September 30, 2030 towards improving social and environmental outcomes for its customers and direct investments.

This includes initiatives to help lower carbon emissions, protect nature and biodiversity, increase access to affordable housing and promote financial wellbeing. If achieved, this would bring the bank’s total commitment to $A166 billion dollars since October 2015.

More broadly, ANZ is supporting an economy-wide transition to net zero because it's our opportunity to shape a sustainable future for generations to come.