Minister for Forestry Walter Schnaubelt stated that discussions on renewable energy transitions and financial access alternatives for Small Island Developing States (SIDS) are critical for PNG. Schnaubelt was speaking at the World Expo 2020 in Dubai when the Energy Transition Accelerator funding platform was launched. He stated that Papua New Guinea...

In the financial year 2021, Newcrest Mining Limited made a statutory and underlying profit of US$1.2 billion. In the 2021 annual report, Managing Director and Chief Executive Officer Sandeep Biswas stated, "It has been more than 18 months since the onset of the COVID-19 epidemic, and we are still experiencing its catastrophic effects throughout the wor...

Photo credit: The National According to State Enterprises Minister William Duma, the Telikom-bmobile merger is on track, with a big announcement expected next month. Duma said he couldn't talk about the merger yet since there were other parties involved and business agreements to think about. Prime Minister James Marape stated last month that the tw...

Photo credit: BSP BSP Financial Group Limited (BSP) has confirmed that BSP shareholders can transfer all or part of their BSP shares to the ASX and trade them on the ASX Market. BSP Financial Limited Group CEO Robin Fleming noted that since the company's listing on the Australian Stock Exchange (ASX) in May, stockholders have been able to trade on t...

Water PNG Limited has signed a contract for K43 million for two water supply projects in Kundiawa and Bulolo townships, which would increase water availability for residents. Two water supply contracts were signed: one for K20 million with Water PNG Limited and Kaia Works Civil Engineering Contractors Limited for the Kundiawa water supply project, and ...

From L – R: Dr Flora Jethro, Oil Search Field Lead Medical Officer, Dr Julia Stinshoff, Senior Medical Officer, Sr Ruth Sala, Oil Search Registered Nurse, Api Kassman, Head of the COVID-19 Vaccination Ministerial Task Force and Leon Buskens, Oil Search Executive Vice President & Co-Head PNG witnessing Oil Search employee Nicholas Koromugo being vaccin...

The Board and Management of landowner owned companies operating in Southern Highlands, Hela and Gulf Provinces have been vaccinated against COVID-19, sending a strong and clear message of solidarity in the fight against a life-threatening disease. The landowner owned companies who provide essential camp management, catering, security, construction, and...

Heduru Moni Limited is successfully running its 22nd year of operation and is quickly earning the reputation as one of the most exciting financial services firms on the rise in Papua New Guinea. The company was incorporated and commenced trading in 1998 as a financial intermediary under the trading name Kina Plus and started operations by providing small ...

According to the Mineral Resources Authority, discussions on a mining development contract for the projected K18.4 billion Wafi-Golpu mining project in Morobe will begin this week (MRA). Both the State and the mine's joint venture partners had conducted conversations, according to managing director Jerry Garry, and an assessment of those interactions w...

Lole Mining Ltd, a local business with foreign partners, will receive the mining license for the Tolukuma gold mine in Papua New Guinea. According to the Mineral Resources Authority, this will be done after transactions to offset mining obligations are completed (MRA). The mining advisory council has previously approved an application for the deal's...

The National Airport Corporation Civil Aviation Development Program One upgrade and maintenance is anticipated to be finished in November. According to Rex Kiponge, the NAC's acting managing director. He said that on November 24, all projects under CADIP One (Tranches One, Two, and Three) will come to an end, with the goal of redeveloping and revita...

The PNG Economic Database was inaugurated in Port Moresby by Minister for Treasury Ian Ling-Stuckey. The PNG Economic Database, which dates back to 2012, was created in collaboration between the Crawford School of Australia National University and the UPNG School of Business and Public Policy. PNG Economic Database, according to Ling-Stuckey, is a f...

A new revised and market friendly transaction levy will be charged on all transactions on the PNG National Stock Exchange (PNGX). Robert Minak, executive chairman of Papua New Guinea's Securities Commission (SCPNG), made the announcement. “We have reviewed the existing levy rate of O.75 per cent and we believe that the quantum of that levy is too hi...

Papua New Guinea, according to Prime Minister James Marape, "remains open for business" and welcomes genuine foreign investment. On Friday, September 24, he delivered his maiden UN speech at the 76th United Nations General Assembly in New York. PM Marape made the guarantee while giving an update on PNG's extractive sectors in light of the current go...

Photo credit: World Bank To reduce the use of offshore labour, Papua New Guinea Prime Minister James Marape is advocating for the use of local tradesmen and technicians in the building of the P'nyang and Papua LNG projects. The Prime Minister proposed that PNG furnish the labour needed to construct the project facilities while signing framework agre...

According to the World Bank, Papua New Guinea's GDP shrank by 3.9 per cent last year as a result of Coronavirus (Covid-19)-related limitations and lower demand. The fiscal deficit increased to 8.9% of GDP, according to the bank's recent East Asia and Pacific Economic Update report, with income underperformance rather than a dramatic increase in spendin...