The Autonomous Bougainville Government has signed a Memorandum of Agreement with a South Korean partner for investment prospects in Bougainville through its commercial arm (BIPCL). The Memorandum of Understanding with South Korean partners led by Mr Geun-Su Kim will result in the formation of a joint venture called BOU&KO Ltd, which will be certifi...

Photo credit: International Mining Harmony Gold Mining Company Limited wishes to share an update on its production as at the end of December 2021 (“first 6 months of the financial year” or “H1FY22”) ahead of its interim results to be announced on 28 February 2022. South African operations Gold production for H1FY22 from the South African operatio...

Photo credit: St Barbara St Barbara Managing Director and CEO Craig Jetson said, “The end of the December FY22 quarter marks a momentous period for St Barbara. Through the announcement of our acquisition of Bardoc Gold, we took decisive steps towards securing Leonora’s future as a significant processing hub in the Western Australian goldfields. The acq...

Prime Minister James Marape receiving a COVID-19 vaccine in April 2021 (PNG PM Media) Article by Stephen Howes National elections will be held in PNG in the middle of this year. Elections are held every five years, and are very popular events. Though voting is voluntary, voter turnout is just below that of Australia, where voting is compulsory. An e...

Photo credit: K92 Mining K92 Mining Inc. is pleased to provide its operational outlook for 2022. The Company expects a significant, year over year, increase in gold equivalent production of up to 34% to 115,000 to 140,000 ounces, while also delivering low-cost production with an estimated cash cost of $560-$640 per ounce gold and all-in sustaining cost...

THE governments of Papua New Guinea and Australia have signed an agreement worth USD435 million (AD580 million or PNGK1.48 billion) for Australia’s funding of the refurbishment and upgrade of ports in PNG. The massive funding, to be executed through PNG Ports Corporation, is the biggest single investment by Australia in any sector and project in the hi...

Photo credit: PNG Chamber of Mines and Petroleum Parliament recently (January 19 2022) passed the Mineral Resources Development Company (MRDC) Ltd Authorisation (Amendment) Bill 2021, after it was introduced by Prime Minister Hon. James Marape. The Bill allows for governance procedures relating to appointment of directors on the MRDC board, and the ...

The New Britain Highway, which connects Kimbe in West New Britain with Kokopo in East New Britain, has been given a K138.5 million contract, according to James Marape. Cabinet authorised K1.4 billion for new road contracts around the country, including the New Britain Highway, last week. PM Marape stated this in Parliament in response to a query fro...

As of 2020, no new round log export permits have been awarded to foreign corporations, according to James Marape. He stated in Parliament that round log exports must cease by 2025. PM Marape stated this in response to queries from Hon. Ambunti-Drekikier, the Member of Parliament for Ambunti-Drekikier. Foreign enterprises exporting round logs, accord...

Photo credit: Oil Search According to Petroleum Minister Kerenga Kua, the production of liquefied natural gas from the Juha petroleum development licence nine (PDL 9) region in Western has yet to begin. Kua stated this in response to Western Governor Toboi Awi Yoto's inquiries concerning the PNG LNG project's integration with other PDL regions and t...

Agriculture and Livestock Minister John Simon believes that coffee and cocoa should be exported through a government organisation. Simon stated the private sector could not continue to export and suppress prices in response to concerns from Pomio MP Elias Kapavore. “I have talked to the department (Agriculture and Livestock) and the commodity boards...

Photo credit: Post Courier  The recently opened Voco Point Coastal Fisheries Hub has the potential to transform PNG's fisheries growth. Fisheries Minister Dr Lino Tom and Morobe Governor Ginson Saonu recently opened the K105 million project in Lae. The National Fisheries Authority (NFA) intends to rebuild its land holdings and properties at Voco ...

Hon. Prime Minister James Marape has announced the granting of new road contracts worth more than K1.4 billion across Papua New Guinea. He revealed the Cabinet decision in front of tens of thousands of people in rural Margarima, Hela. The K1.4 billion in road contracts are in addition to those already in place under the Marape Government's flagship ...

According to PNG Forestry Industry Association (PNGFIA) president Bob Tate, the country's logging industry is depressed, with nothing on the horizon in the short term to instil confidence in industry players. According to Tate, the logging business has been hurt by ongoing tax reforms as well as a drop in market demand. He claimed the sector was curren...

According to the Independent Consumer and Competition Commission (ICCC), wholesale price reductions in internet broadband services are not passed on to consumers. According to a statement, the telecommunications industry has undergone a progressive transition, with a number of internet service providers (ISP) now engaged in the retail end of the busine...

Photo:Students in Kimbe West Britain PNG Article by Grant Walton and Husnia Hushang It’s back! This year Papua New Guinea (PNG) will implement another fee-free education policy. In June 2021, the government announced that, for the fifth time in PNG’s history, parents will no longer have to pay school fees to send their children to school. This ne...

Photo credit: REUTERS / David Gray Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record annual production and sales revenue in 2021, as strong base business performance positioned the company to benefit from higher commodity prices. Free cash flow of around US$1.5 billion for the year was also a record an...

Photo: Inside the discharge end of a ball mill being fitted with spiral lifters and rubber grates. Vulco® R67 mill liners last significantly longer and deliver a measurable reduction in mill downtime, installation and maintenance costs. Vulco® rubber is renowned throughout the mining industry for its exceptional wear life and reliability in mill lining...

Photo credit: Savi Moni Access to affordable credit is highly valued but not readily available in Papua New Guinea.  In an extremely competitive employment marketplace, businesses are increasingly assisting employees to access credit as a means to both attract and retain their top talent.  Even in the current economic downturn, there is still a ‘war...

Photo credit: Geopacific Resources The Board of Geopacific Resources Limited is pleased to announce the appointment of Mr. Andrew Bantock as Chairman and director of Geopacific, and the retirement of Mr. Ian Clyne as Chairman and director of the Company. Mr. Bantock has significant experience leading listed and private businesses, both in Australia ...

A positive first meeting of the Panguna Mine Legacy Impact Assessment Oversight Committee was held in Buka in 2021.  Representatives from clan, landowner, and community organizations, as well as the Papua New Guinea government, Rio Tinto, Bougainville Copper Limited, and the Human Rights Law Centre, were hosted by the Autonomous Bougainville Government...

The Marape government is pushing for Papua New Guinean school graduates to be recruited and educated as construction welders and tradespeople. Hon. Prime Minister David Cameron Instead of introducing thousands of immigrants to do tasks that locals can accomplish, James Marape believes this should be done. He alluded to the PNG LNG Project's building...

At the World Expo 2020 in Dubai, Papua New Guinea's Department of Information and Communication Technology inked a memorandum of agreement with Estonian tech business Cybernectic. Steven Matainaho, Secretary of the Department of Information and Communication Technology, signed the MoU with Cybernectic's head of business development, Kevin Tammearu, whi...

Photo credit: Slofoodgroup In terms of production volume, vanilla is the most popular spice in the country, with 520,000 kg produced annually. In terms of market trends, the price of vanilla would rise by 5% in the next five years, according to PNG Spice Industry Board chief executive officer Nelson Simbiken. “In terms of production and volume, v...