Treasurer Ian Ling-Stuckey claims that budget repair enabled the government to reach its income and finance objectives while also keeping spending under control in last year's budget. In presenting the Final Budget Outcome (FBO) for 2021, Ling-Stuckey said that the budget deficit was preserved at K6.3 billion, down from the K6.6 billion predicted and t...

Photo credit: Papua New Guinea Mine Watch According to the MRA chief, earnings from alluvial gold mining exports increased to K640 million in 2021 from K300 million. Jerry Garry, the managing director of the Mineral Resources Authority, announced this in Port Moresby during the goodbye of Mining Minister Johnson Tuke. Mr Garry claimed the industr...

The Mineral Resources Authority will make all of the mining industry's operating live data available online in the coming months. According to Mineral Resources Authority executive director Jerry Garry, the mining amendment Act of 1992 mandates mining corporations to supply the state with information and data. Mr Garry said: “This was at a time when...

The Tolukuma Gold Mine in Central Province has been granted an extension licence (ML104) for a period of ten years. Iain MacPherson, managing director and chief executive officer of Lole Mining Limited, said the next step is to implement a reopening plan because the mine has been closed for some years, and they are contemplating a lot of components. ...

Dr Nelson Simbiken, the chief executive officer of the Papua New Guinea Spice Business Board (PNGSIB), believes there is an opportunity for corruption in the industry and calls for a revision of the PNG Spice Industry Act of 1989. He added that the board's goal would be to examine the Act and establish authority over the following two years. “The sp...

Since 2020, international shipping rates for general and containerised cargos have climbed dramatically, having a considerable influence on domestic products pricing. According to statistics accessible to the ICCC, the surge in maritime freight prices was caused by the COVID-19 epidemic and trade imbalances, which resulted in international container sh...

Despite no new resource projects coming online, Prime Minister James Marape claims that the country has been able to report positive growth. According to the Asian Development Bank (ADB), the country's GDP would increase by 3.4 per cent this year and 4.6 per cent next year. Marape stated that the government was handling a debt to GDP (gross domestic...

On May 8, 2022, the Independent Consumer and Competition Commission will remove the 10% GST on fuel products from its calculation template. At a news conference in Port Moresby, ICCC chief commissioner and interim chief executive officer Paulus Ain announced. He stated that the import duty and excise duty on gasoline, diesel, and ZA1 will be totally...

According to James Marape, East Sepik should become the world's vanilla capital and a cocoa trading hub. This isn't impossible, given that Papua New Guinea – mainly through East Sepik – is one of the world's top vanilla producers. The World Bank estimates that PNG will soon overtake Madagascar as the world's second-largest producer. East Sepik is al...

Photo: PM Marape addressing the people of Mengar James Marape has advised East Sepik residents to invest more in agriculture to strengthen the local and national economies. He made the announcement at Mengar, Wewak, during the inauguration of the K500 million Wewak International Port, which Korea sponsored in collaboration with the Papua New Guinea ...

Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record production, sales revenue and free cash flow in the first quarter, demonstrating the strong performance of the base business and strategic benefits of our diverse portfolio. Strong production combined with higher commodity prices delivered record quarterly...

Photo credit: Mayur Resources - An artist's impression of surface mining operations at Orokolo Bay Mayur Resources Limited has placed an order with Australian-based specialist leading engineering firm, Vanadium Pty limited (Vanadium Group), for the mineral process plant units for its construction-ready Orokolo Bay Iron and Industrial Sands Project (Oro...

We are pleased to advise that Early Bird registrations for the premier annual bilateral business forum, the 37th Australia Papua New Guinea Business Forum & Trade Expo (apngbc.org.au) are now open. The Forum will be held at the Brisbane Convention & Exhibition Centre, and Online, on 23rd to 25th May 2022. Please click on the link 37th Austra...

Every year, hundreds of Papua New Guinean’s will require life-saving heart procedures as lifestyle related disease and coronary heart disease is among the top ten common cause of admission at the Port Moresby General Hospital. Today, Papua New Guinea’s largest referral hospital, Port Moresby General Hospital (PMGH) officially opens a fully equipped 30 ...

Photo: PM Marape congratulating Sohe MP Hon. Henry Amuli on his appointment as Minister for Commerce and Industry Minister for Environment Conservation and Climate Change Hon. Wera Mori has been decommissioned by Prime Minister Hon. James Marape in a Cabinet reshuffle made recently (April 13 2022). PM Marape also announced the reshuffle of Minister ...

PM James Marape has given his gratitude to Her Royal Highness Princess Anne for her three-day Royal Visit to honor the Queen's 70th Platinum Jubilee Anniversary. The Princess Royal was brought to Port Moresby by her husband, Vice-Admiral Sir Timothy Laurence. “I thank Her Royal Highness Princess Anne for visiting Papua New Guinea, a country which is...