Mayur Resources Limited is pleased to confirm that it has executed definitive debt financing agreements with Appian Capital Advisory LLP (Appian) for a total of approximately US$115 million. This financing, combined with Vision Blue Resources’ (Vision Blue) proposed equity investment into the project of US$40 million announced in November 2023, would see ...

The Asian Development Bank (ADB) reaffirmed its strong, long-term partnership with the Government of Papua New Guinea (PNG) during the wrap-up meeting of ADB’s Country Programming Mission.  At the meeting co-chaired by ADB Country Director for PNG Said Zaidansyah, Department of National Planning and Monitoring Secretary Koney Samuel, and Department of ...

Kumul Petroleum Holdings Limited recently announced that for the first time it was directly marketing Liquified Natural Gas on the ‘spot’ market from its share of product from the PNG LNG Gas Project that was not committed to long term sales agreements. Confirmed last month, the deal is to sell 144,000 m3 of LNG on FOB terms to PetroChina International...

Prime Minister Hon. James Marape announced that Papua New Guinea continues to be a prime destination for business ventures, highlighted by PetroChina International Co. Ltd’s recent entry into the nation’s hydrocarbon industry. On a historically significant day for the oil and gas sector on Wednesday, April 17, 2024, Prime Minister Marape officially wel...

Blue Water is thrilled to announce the opening of bookings for its highly anticipated Less than Container Load (LCL) Consolidation Services, facilitating seamless connectivity between Australia and Papua New Guinea. This innovative service heralds a new era in cargo shipping, promising efficiency, and reliability. Blue Water's LCL Consolidation Service...

PNG CORE President Anthony Smaré said recently that PNG benefits from one of the strongest gold production monitoring regimes in the world and PNG should feel proud of its current regime in place. “PNG's mining industry adheres to a very rigorous standard and comprehensive scrutiny by government agencies to ensure transparency and accountability in gol...

The Papua New Guinea Chamber of Resources & (PNG CORE) reaffirms its dedication to transparent resource governance by actively participating in the Extractive Industries Transparency Initiative (EITI) process. EITI serves as a crucial mechanism for enhancing accountability and promoting responsible management of natural resources worldwide. PNG ...

The Member for Vanimo Green, Hon. Belden Namah is seeking the support of the National Government to assist his District to develop the much talked about Vanimo Free Trade Zone (FTZ). The Vanimo FTZ has been on the drawing board over the last 20 years after been initiated by the former Sandaun Governor, Late John Tekwie. In response to Hon. Namah’s form...

Ok Tedi Mining Limited (OTML) recently presented K100, 000 to the Ok Tedi Women’s Network (OWN) to support a fundraiser to purchase cervical cancer-screening equipment. The funding was presented during a Gala Fundraising Dinner organized under the patronage of OTML Managing Director and Chief Executive Officer, Kedi Ilimbit. The event drew support from...

Qantas has announced the launch of a new direct connection between Sydney and Port Moresby. The national carrier inaugurated its maiden service on 2 April, marking its first commercial passenger flight between the two cities in over five decades. Operating twice a week, the new service will be facilitated by Qantas’ Boeing 737 aircraft, effectively add...

In commemoration of World Health Day on April 7th, the Papua New Guinea Chamber of Resources and Energy (PNG CORE) reaffirms our unwavering commitment to promoting health and well-being within our nation. World Health Day serves as a poignant reminder of the critical importance of prioritizing health at both individual and societal levels. This year’s the...

K92 Mining Inc. announces that it has commenced preparations to resume underground operations within two days, following the receipt of a letter from the Mineral Resources Authority (“ MRA ”) of Papua New Guinea vacating the Form 29 that was issued on March 13, 2024 (see March 19, 2024 Press Release ). The receipt of the letter vacating Form 29, follow...

Papua New Guinea (PNG) and Australia have embarked on a collaborative endeavour to honour war memorials and enhance tourism prospects. This initiative follows a Memorandum of Agreement signed last year 2023 between the Papua New Guinea Tourism Promotion Authority (PNGTPA), National Capital District Commission (NCDC), and Canada Bay City Council in Sydn...

The National Airports Corporation (NAC) and the Papua New Guinea Tourism Promotion Authority (PNGTPA) have officially signed a Memorandum of Understanding (MOU), solidifying their collaboration in various initiatives aimed at marketing and promoting Papua New Guinea’s tourism potential both domestically and internationally. The MOU outlines key areas o...

Economic growth in the Pacific is projected to moderate in 2024 before picking up in 2025, according to the Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication, released today. The Pacific economies expanded by an average of 3.5% in 2023 as business activity resumed in earnest after the COVID-19 pandemic. Growth of 3.3% is p...

Prime Minister and Treasurer Hon. James Marape today emphasised the substantial resources his government has allocated to the agriculture sector, surpassing any past government’s efforts. Speaking at the closing ceremony of the two-day Department of Agriculture and Subsector Agencies Meeting in Port Moresby, the Prime Minister stressed the importance of d...