The Bank of Papua New Guinea (BPNG), Australia and New Zealand Banking Corporation (PNG) Ltd (“ANZ”) and the Global Green Growth Institute (GGGI) have signed a Memorandum of Understanding (MoU) to integrate and reinforce the Inclusive Green Finance Policy (IGFP) into ANZ’s operations and services. The MoU establishes a framework for cooperation and col...

Prime Minister Hon. James Marape announced that Papua New Guinea’s economic outlook is showing significant improvement, driven by stronger growth, low and stable inflation, and a substantial easing of foreign exchange (FX) shortages. “The PNG economy is on a positive trajectory, with inflation persistently remaining below the historical average of 5.5 ...

The Autonomous Bougainville Government (ABG) has announced the signing of a Memorandum of Understanding (MOU) with Stellae Energy Ltd (Stellae), a UK-based Green Energy Solutions and Assets company. This partnership marks a significant achievement in Bougainville's journey towards energy independence and economic sustainability through the exploration ...

It is difficult to attract American companies to come and invest in Papua New Guinea (PNG) if they continue to go through the frustrations of establishing themselves in PNG, says The United States (US) Ambassador to PNG, Her Excellency Ann Marie Yastishock. Ambassador Yastishock made this statement today in her meeting with the Minister for International ...

The Autonomous Bougainville Government (ABG), Bougainville Copper Limited (BCL), and Rio Tinto have signed a Memorandum of Understanding to address concerns around future risks of ageing infrastructure in the former Panguna mine area.  This collaboration comes in response to information obtained during field work forthe independent Legacy Impact Assess...

PNG has and estimated 100 (m) million ounces of gold that is yet to be mined according to the Prime Minister Hon James Marape. The PM revealed this when officially closing the Geoscience, Exploration & Extraction Conference 2024 yesterday at the APEC Haus in Port Moresby. He said based on the gold price of around US$ 2,400, the 100m ounces would...

There has been a decline in mineral exploration activities in the country since 2019, according to the Managing Director of the Mineral Resources Authority (MRA), Jerry Garry. Mr Garry said this recently at the Geoscience, Exploration & Extraction Conference 2024, at the APEC Haus in Port Moresby. The MD said from 2012-2018, most of the country ...

Papua New Guinea (PNG) is losing billions in US Dollars from the fisheries industry in revenue inflows because 80 percent of fish caught in the PNG Exclusive Economic Zone (EEZ) is processed and sold in other countries in US Dollars since PNG does not have a Domestication Policy. Chairman of RD Group, Mr. Roy Rivera revealed that over 60 per cent of RD’s ...

Prime Minister Hon. James Marape on Tuesday, August 6, 2024, expressed his gratitude to the outgoing Indian High Commissioner to Papua New Guinea, H.E. Inbasekar Sundaramurthi, for his exceptional contributions during his tenure. Prime Minister Marape acknowledged the progress made in India-PNG relations under High Commissioner Sundaramurthi’s leadersh...

Prime Minister, Hon. James Marape on Tuesday, August 6, 2024, welcomed new Chinese Ambassador to Papua New Guinea, His Excellency Mr Yang Xiaoguang, while commenting on the “great strides” the two countries have made in their bilateral ties in the last five years. Ambassador Yang Xiaoguang paid a courtesy call on the Prime Minister at his office at Sir...

The Papua New Guinea Chamber of Resources & Energy (PNG CORE) is pleased to announce the 2024 Papua New Guinea (PNG) Investment Week. The event, which will take place from December 6th to 11th, 2024, at the International Convention Centre in Sydney, was officially launched by Prime James Marape. In his remarks, the Prime Minister acknowledged th...

As part of its member engagement activities, staff from PNG Chamber of Resources and Energy (PNG CORE) recently took part in a stakeholder engagement, hosted by ExxonMobil PNG (EMPNG). This advocacy session, facilitated by EMPNG’s Government Affairs team, provided PNG CORE staff with an appreciation of work done by the PNG LNG Project operator, particu...

Ok Tedi Mining Limited (OTML) has signed a road construction contract worth K18.1 million for the Alice Pit to the Border Post Road Project in North Fly District. Funded through the Infrastructure Tax Credit Scheme (ITCS), the 14.55km road will serve as a critical link, connecting local communities to a key PNG-Indonesian border post at Yetetkun in the...

Prime Minister Hon. James Marape, announced on Friday, August 2, 2024, that the State Negotiating Team (SNT) is actively engaged in discussions with Wafi-Golpu mine developers Newmont and Harmony, with the aim of finalising the Mine Development Contract (MDC). This critical step is part of the preparations for the prompt issuance of the Special Mining ...

The Minister for International Trade and Investment, Hon. Richard Maru today announced that the National Executive Council (NEC) in its recent Meeting No: 13/2024 approved, in principle, that the Pacific Marine Industrial Zone (PMIZ) in Madang Province will be developed in two phases. “The Phase 1 of the project will be the establishment of a fishing J...

Prime Minister Hon. James Marape on Thursday, August 1, 2024, lauded the Coffee Industry Corporation Ltd (CICL) for its visionary leadership and strategic planning in advancing Papua New Guinea’s coffee industry. The Prime Minister made these remarks while officially opening CICL’s impressive K10.6 million Coffee Exports Office Complex in Lae. Followin...