As the garment and textile sector in Papua New Guinea (PNG) sees increased local innovation and production, the Women Enterprise Development Centre (WEDC) opened its new office in Port Moresby on November 15 to spur more entrepreneurship in the country. Minister for Commerce and Industry, Hon. Win Bakri Daki, expressed optimism about the future of the ...

The Small and Medium Enterprises Corporation (SMEC) recently signed a Memorandum of Understanding (MOU) with the Kerowagi District Development Authority (KDDA) to deliver entrepreneurship training and business development services in Kerowagi District in the Simbu Province Highlands of Papua New Guinea. The partnership aims to empower local entrepreneu...

Papua New Guinea (PNG) is set for economic recovery in 2024, with projected growth of 3.7%, up from 2.8% in 2023, according to the November 2024 WESTPAC WAILIS PNG Economic Update. This rebound is largely attributed to the resource sector, which continues to underpin the nation’s economy. However, inflationary pressures, a managed depreciation of the k...

Tolu Minerals Limited has successfully extended the mineralisation of its Tolukuma gold and silver deposit, announcing strong results from its latest drilling program at the nearby Taula vein system. Located 4.5 kilometers southeast of the existing Tolukuma gold mine, the exploration effort confirmed high-grade gold and silver intersections, opening up...

Papua New Guinea (PNG) recently completed its Mutual Evaluation review, which began in March 2023 and concluded in September 2024. The Mutual Evaluation Report (MER) was adopted during the Asia Pacific Group (APG) Annual Plenary Meeting in Abu Dhabi, UAE, and published on November 14. To address the report's findings, a Strategic Implementation Plan (S...

The year 2025 marks the 50th anniversary of Papua New Guinea's independence, yet significant gaps remain in the provision of healthcare services across the nation, Prime Minister Hon. James Marape said. Amid the challenges and progress in the country's health sector, Marape emphasised the importance of strengthening primary healthcare as the foundation...

Papua New Guinea, a nation known for its abundant natural resources, a strategic Pacific location, and untapped market potential, makes the country an attractive destination of opportunities for international investors. However, operating in PNG can be complex, with challenges such as managing a unique regulatory environment, overcoming logistical hurd...

Exploration is important for the future of Papua New Guinea’s mining sector, which plays a vital role in the nation's growth. Without continued exploration, the country will face a decline in mining activity, said Papua New Guinea Mineral Resources Authority Managing Director Jerry Garry. “And if there is no exploration, there will be no mining in this...

Santos CEO Mr. Kevin Gallagher recently called Papua New Guinea’s Liquefied Natural Gas (PNG LNG) project  a "world-class asset" that boasts a low-cost, low-emissions intensity profile. He told PNG Business News that the project continues to deliver reliable LNG supply to key markets in Asia, reinforcing its vital role in the global energy landscape. ...

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Tolu Minerals Limited has announced a successful placement, raising A$26.7 million (Australian Dollars) from sophisticated and institutional investors at an issue price of A$0.80 per share. In an exclusive interview, Tolu Minerals Managing Director and CEO Iain Macpherson told PNG Business News that this funding will significantly strengthen and accele...

Papua New Guinea is committed to strengthening its bilateral relationship with the United States in the coming years, with Prime Minister James Marape expressing confidence in future cooperation under the leadership of President-elect Donald Trump. PM Marape made the statement while congratulating Trump on his election as the 47th President of the Unit...

November is a month of global activism to take action and prevent all forms of violence against women. Joining this global agenda, more than 1,000 people wearing red walked the streets of Port Moresby with support from Puma Energy as major sponsors for the annual “Redvember Walk.” This officially launched the “United to End Violence Against Women (EVAW...

Santos has completed its sale of a 2.6% interest in the Papua New Guinea Liquefied Natural Gas (PNG LNG) project to Kumul Petroleum Holdings Limited (KPHL). The transaction, first announced on 29 December 2023 and detailed on 1 February 2024, was completed on 4 November 2024 and is worth US$602 million in cash (2.43 billion kina). In addition, Kumul wi...

In an exclusive interview with PNG Business News, the newly appointed Minister for Mining, Hon. Wake Goi, shared his priorities, placing emphasis on transparency in regard to all mining deals done under his ministry.  "Any mining deals done under my ministry must be done with transparency," he stated. Minister Goi, now almost five weeks into his ten...

Papua New Guinea Prime Minister James Marape announced the launch of a “transformative” $1.2 billion (4.8 billion kina) agro-forestry project aimed at boosting the economy and infrastructure of the remote midlands of Western Province. During a press conference, PM Marape outlined key features of the project, which promises to enhance connectivity and g...