Barrick Gold President and Chief Executive Officer Mark Bristow arrived in Port Moresby this afternoon as a part of his regular quarterly visits to all Barrick operations globally. During his 3-day visit to PNG, Mr Bristow will meet with the Prime Minister, James Marape and will visit Porgera to meet with project area landowners and business, church and c...

The price of goods and services have continued to increase since the second quarter of 2021, with Consumer Price Index (CPI) rating closing the first quarter of this year at 6.9 percent – the highest level rating since 2010. To counter this high domestic inflation, the Bank of PNG has tightened the Monetary Policy by increasing the Kina Facility Rate (...

The reopening of the Porgera Gold Mine will be a catalyst for continued growth post-COVID despite it currently being on hold due to a delayed stakeholder sign off on the Porgera Project Commencement Agreement and Shareholder Agreement. BSP Group CEO Robin Fleming in providing his insight in the BSP Pacific Economic and Market Insight Q2, 2022 Report sa...

Prime Minister Hon. James Marape, MP says the completion of Telstra’s acquisition of Digicel Pacific this month is demonstration of international confidence in the Papua New Guinea economy. “The government has worked to liberalise the telecommunication market, and to also even out the playing field so that we attract important investments, and build im...

Photo: Port Moresby 1980 For 50 years Bishops has been an integral part of the ongoing development of Papua New Guinea through the supply and service of products to a multitude of projects, agriculture, mining, forestry, manufacturing, marine, industrial and of the last decade the evolving oil and gas industry. Bishops in many ways, has grown and devel...

Photo: Photo of PIF Leaders Pacific Islands Forum Chair and Host, Fijian Prime Minister Hon. Josaia Voreqe Bainimarama, and other members of this esteemed group. I am honored to be here today representing my people of Papua New Guinea at this august forum in its 51st year of existence. On this momentous occassion, let us pause to remember pioneer...

Photo: Prime Ministers Albanese and Marape in Suva. Prime Minister Hon. James Marape met Australian Prime Minister Anthony Albanese on Thursday (July 14 2022) at the Grand Pacific Hotel in Suva, prior to the convening of the 51st PIF Leaders Retreat at the PIF Secretariat Headquarters. Being the first meeting since PM Albanese was elected, their ini...

Prime Minister Hon. James Marape had a bilateral meeting with the Prime Minister of the Republic of Fiji. Hon. Voreqe Josaia Bainimarama on the margins of the 51st Pacific Islands Forum in Suva, Fiji. PM Bainimarama thanked PM Minister Marape for making time to attend the PIF saying it showed his commitment and cause to the wider regional family. PM...

Photo credit: A Pacific Trade Invest survey for Pacific Island exporters has revealed that despite over half of all responding businesses reporting a decline in export orders over the past 12 months, respondents are confident the future holds promise with two out of three businesses expecting an increase in export orders over the next 12 months. The...

PAPUA New Guinea’s economy has weathered the Coronavirus (Covid-19) pandemic well despite many challenges, according to Treasurer Ian Ling-Stuckey. Ling-Stuckey said according to the International Monetary Fund (IMF), “PNG economy is expected to grow from K79.4 billion in 2018 to K109.3 billion in 2022”. “The increase over the last two years of K23....

Photo credit: Fabien Forget, ISSF Papua New Guinea has told the United States – the biggest importer of fresh Pacific tuna – that it wants to get away from the export of raw tuna and now move into downstream processing. Prime Minister James Marape said he made this known to US vice -president Kamala Harris at the 51st Pacific Islands Forum (PIF) sum...

Appreciating farming as a sustainable and viable business practice is the message from PNG Agriculture Company’s PNG Agbook who are partners with the UNCDF in the EU Funded Joint STREIT PNG Programme. PNG Agbook working with the PNG Cocoa Board, organized two sets of trainings for rural farmers in the Sepik region of Papua New Guinea. A total of 23 far...

Telstra, Australia’s leading telecommunications and technology company, today announced it has officially acquired Digicel Pacific in partnership with the Australian Government. Telstra will continue to invest in and operate the business across its six South Pacific markets – Papua New Guinea, Fiji, Nauru, Samoa, Tonga and Vanuatu. Oliver Camplin-Warne...

Photo credit: Loop PNG - Clarence Hoot   The Investment Promotion Authority will be reviewing its Strategic Plan 2021-2023 as the plan is halfway into its implementation timeframe. Investment Promotion Authority managing director Clarence Hoot in IPA’s fifth edition of Opportunity newsletter, said IPA is reviewing the plan to assess how much of it h...

Photo: Simberi’s rope conveyor (Ropecon), part of the mine’s clean energy campaign, delivers ore to the process plant three-kilometres downhill from the pit. [Photo by Chamber of Mines and Petroleum] St Barbara is expecting its sulphide expansion project at the Simberi operation in New Ireland, Papua New Guinea to proceed either under its name or a dif...

Photo credit: K92 Mining Inc. K92 Mining Inc. announces production results for the second quarter (“ Q2 ”) of 2022 at its Kainantu Gold Mine in Papua New Guinea, of 26,085 oz AuEq or 22,934 oz gold, 1,229,961 lbs copper and 25,224 oz silver. Sales during the second quarter were 23,674 oz gold, 1,349,816 lbs copper and 27,033 oz silver. During the se...