Prime Minister Hon. James Marape on Tuesday, January 28, 2025, met with U.S. Ambassador to Papua New Guinea, Her Excellency Ann Marie Yastishock, in a comprehensive discussion that reinforced the growing partnership between Papua New Guinea and the United States. The meeting highlighted critical areas of cooperation, including security, environmental poli...

Prime Minister Hon. James Marape on Tuesday, January 28, 2025, welcomed the newly appointed French Ambassador to Papua New Guinea, His Excellency Pierre Fournier, in a meeting that highlighted the deepening partnership between PNG and France. The discussion covered shared interests including environmental conservation, military cooperation, trade, investm...

Westpac continues to deliver on its commitment to empower communities with essential financial knowledge by kicking off its 2025 series of Financial Basics for My Business online webinars. The first session included business owners and representatives from various organizations both in Port Moresby and outside centres, who all successfully completed the p...

A Memorandum of Understanding (MoU) for the transferring of powers and functions from the Investment Promotions Authority (IPA) was signed between the Autonomous Bougainville Government (ABG) and IPA recently at the Harvest Centre at Buka. The Investment and Promotions Authority (IPA) Managing Director Mr. Clarence M. Hoot officially announced the sign...

Ok Tedi Mining Limited (OTML) has surpassed its annual sediment dredging and its rehabilitation target for 2024 at its Bige Operations. Last year, 10.75 million Cubic Meters (Mm3) of river sediments was dredged, surpassing the target of 10 Mm3, while 35.21 Hectares (ha) of sand stockpile was rehabilitated, exceeding the target of 30 ha. The Bige Ope...

Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) and Papua New Guinea’s PNGX Group Limited (“PNGX Group”) have reaffirmed the commitment to fostering innovation and enhancing sustainability in the capital markets of Fiji, Papua New Guinea and the wider South Pacific region by entering into a Memorandum of Understanding to explore technology sharing...

Ok Tedi Mining Limited (OTML) is pleased to announce its exceptional performance results for 2024, showcasing yet another successful year of disciplined operational and financial excellence. In 2024, OTML achieved outstanding strong, safe and reliable production results, surpassing set targets for copper, gold, and silver. The company produced 103,246 ...

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...

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...