Prime Minister James Marape has acknowledged the significant challenges highlighted by the Manufacturers Council of PNG regarding economic barriers faced by the country’s manufacturing sector and reaffirmed his government’s commitment to removing structural obstacles and creating a more conducive environment for businesses to thrive. “The concerns rais...

Prime Minister Hon. James Marape has extended his gratitude to senior leaders from ExxonMobil’s headquarters in Houston, Texas, who visited Papua New Guinea to reaffirm the company’s long-term commitment to the country’s energy sector. Three senior ExxonMobil corporate executives, led by outgoing Upstream President Liam Mallon, traveled to PNG to perso...

Prime Minister Hon. James Marape has commended K92 Mining Limited for achieving record-breaking production results for the fourth quarter of 2024, describing the milestone as a significant boost to Papua New Guinea’s economy. The Kainantu-based mining company recorded a quarterly production of 53,401 ounces of gold equivalent (AuEq), marking the highes...

The Minister for International Trade and Investment, Hon. Richard Maru, recently declared that 2025 will be the year that Konebada Petroleum Park Authority (KPPA), under the Chairmanship of Mr. Martin Kombri will be proactive in recovering the parcel of land known as the “Konebada Petroleum Park Zone” as declared and defined in the National Gazette No. G7...

PNGX recently released the 2024 performance data for the Papua New Guinean market. 2024 represented a year of remarkable growth on the market. The financial services sector emerged as a strong performer, delivering robust returns for investors and setting a high benchmark for the market. Key highlights among PNG companies included: Kina Asset Man...

Bougainville Copper Limited (BCL) is pleased to announce the appointment of Mr Johnny Patterson Auna as Chief Executive Officer (CEO). Mr Auna, who hails from Laguai Village, Buin in South Bougainville, joined BCL in March 2024 as Chief Financial Officer and Company Secretary. He has also been serving in the role of Acting CEO since July 2024, followin...

K92 Mining Inc. hit record-breaking production results for the fourth quarter of 2024 at its Kainantu Gold Mine in Papua New Guinea, signaling strong momentum ahead of its highly anticipated Stage 3 Expansion. The company reported on January 8 a gold equivalent (AuEq) production of 53,401 ounces, marking a 37% increase from Q4 2023 and a 21% rise from ...

Prime Minister James Marape has urged Papua New Guineans to draw inspiration from South Korea’s extraordinary journey out of poverty following the devastation of the Korean War (1950-1953), highlighting their rise to global economic prominence as a testament to hard work and determination. “South Korea, a nation ravaged by war and with virtually no nat...

Prime Minister James Marape recently commended the Chinese government for its commitment to strengthening bilateral trade ties by granting Papua New Guinea access to its vast agricultural market. This milestone, facilitated through the National Agriculture Quarantine and Inspection Authority (NAQIA), is set to unlock significant economic opportunities for...

Ok Tedi Mining Limited (OTML) recently replaced two of its 40-year-old Ball Mill Units at a cost of USD$14.59 million. The new Ball Mill units will bolster OTML’s processing operations and production output and generate revenue for our shareholders. The project was led by the Processing Maintenance Department with the support of other OTML departmen...

Up to 30 world leaders are expected to attend Papua New Guinea’s 50th Jubilee Independence celebrations, with Pacific leaders already confirming their participation, Prime Minister Hon. James Marape revealed in a statement. “All Pacific leaders have given the indication to join us on 16 September as well. It will be a busy year for all of us right thro...

The Internal Revenue Commission (IRC) of Papua New Guinea (PNG) has announced a number of tax relief measures introduced in the 2025 Budget by the Marape-Rosso Government. These reforms are aimed at addressing the rising cost of living, supporting small businesses, and promoting home ownership across the nation, the IRC said in a statement. Key Reli...

Ok Tedi Mining Limited (OTML) recently graduated 29 trainees under its Graduate Development Scheme (GDS) and 12 Apprentices from its Apprenticeship Training Program during a combined graduation in Tabubil on December 19th, 2024. The graduate trainees who completed two years of training were part of the 2022 GDS recruitment. OTML has now trained a total...

Ok Tedi Mining Limited (OTML) Managing Director and Chief Executive Officer Kedi Ilimbit is pleased with the progress of the Community Mine Continuation Agreement (CMCA) Extension Review. Mr Ilimbit said that the company has made significant progress with the community meetings and the Working Group Meetings (WGM) towards the end of 2024. "The signi...

In the rapidly changing field of fuel management, maintaining the integrity of your fuelling system is crucial. Leaks compromise fuel quality, pose significant environmental risks and lead to costly operational disruptions. Our acoustic leak detection method is a highly effective, revolutionary solution for maintaining and securing fuel infrastructures. ...

Papua New Guinea and Australia have taken a significant step towards modernising the nation’s maritime infrastructure with the launch of a Joint Implementation Unit (JIU). This collaboration, between the Australian Infrastructure Financing Facility for the Pacific (AIFFP) and PNG Ports Corporation, is set to revolutionise port operations in key locations,...

The Mineral Resources Development Company (MRDC) has demonstrated its commitment to creating value and strengthening partnership opportunities at the 2024 PNG Investment Week, hosted in Sydney, Australia. MRDC’s active participation and strategic investments were key highlights of the conference, showcasing the company’s leadership in driving sustainable ...

The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) have signed a $100 million policy-based loan to improve governance and accountability across the public sector. The Strengthening Public Sector Management Program is supporting the government’s efforts to enhance fiscal management, improve state-owned enterprise (SOE) governa...

Kumul Petroleum Holdings Limited managing director, Wapu Sonk, today handed over a cheque of K150 million to the State Owned Enterprises Minister Hon. William Duma, as final dividend payment for the year. Mr Sonk said, “This has been a tough year financially for KPHL, we have had to meet our PNG LNG Project JV cash calls associated with the finalisatio...

KPHL’s contractor, China Petroleum Pipeline Engineering, a subsidiary of China National Petroleum Company has begun construction of a Jet A1 fuel import and storage facility at a site adjacent to the Motukea wharf.  Kumul Petroleum Managing Director, Wapu Sonk said, “This facility is part of the commitment we made to the Government and people of PNG ea...

As the New Year opened, a call for unity and compassion for Vanuatu resounded across Papua New Guinea from Port Moresby. The Governor for the National Capital District, Hon. Powes Parkop, announced a charity drive aimed at supporting Port Vila, the sister city of Port Moresby, which was devastated by a 7.3-magnitude earthquake on New Year’s Eve. The...

The European Union (EU) Delegation to Papua New Guinea has launched the Green Diplomacy Week 2024, a three-day event aimed at fostering local partnerships for sustainability, environmental protection, and climate action. Held from December 11 to 13 at the Moresby Arts Theatre, the event highlighted the EU’s global commitment to combating climate change...

The Government of Papua New Guinea (PNG), Hevehe Petroleum, and Twinza Oil have signed the Pasca Gas Agreement, marking the country’s first offshore petroleum project. This landmark deal promises significant economic and social benefits. Historic Signing Ceremony The signing ceremony, led by Governor General Sir Bob Dadae and attended by Prime Minis...

Papua New Guinea (PNG) faces significant challenges in addressing money laundering (ML) and asset recovery. According to the Financial Action Task Force (FATF) Mutual Evaluation Report (MER) published in November 2024, the country lacks skilled personnel, institutional resources, and prioritization to tackle these issues effectively. Consequently, P...