The Papua New Guinea Chamber of Resources and Energy (PNG CORE) is proud to announce its Highly Commended Recognition in the Best Use of Technology (500+ category) at the 2024 EventsAir Innovation Awards. This year’s awards saw a record number of high-quality submissions, making the judging process highly competitive. Despite the strong field, PNG CORE...

The governments of Australia and Papua New Guinea announced on December 12 a team-up with the Australian Rugby League Commission (ARLC) to strengthen ties through rugby league, a sport passionately embraced by both nations.  Stressing its role as the primary security and development partner to Papua New Guinea, Australia pledged to support the establis...

The Papua New Guinea Tourism Promotion Authority (TPA) reaffirmed its partnership with Carnival Australia (P&O Cruises) to strengthen Papua New Guinea’s (PNG) growing cruise sector on Monday 9 December in Sydney, Australia. TPA’s Chief Executive Officer (CEO), Eric Mossman Uvovo, met with Carnival Australia’s Vice President, Peter Little, to reaffi...

The Minister for International Trade and Investment, Hon. Richard Maru described his recent meeting with the full Board and Management of Mayur Resources at the margins of the Papua New Guinea (PNG) Investment Week in Sydney as “highly satisfactory”. Minister Maru said: “The meeting allowed me to clarify to Mayur Resources a lot of issues that the Stat...

A Santos Foundation program committed to changing attitudes towards family and sexual violence, and supporting survivors in Papua New Guinea, has won international recognition for its life-changing impact at the Platts Global Energy Awards in New York. A Santos Foundation program committed to changing attitudes towards family and sexual violence, and s...

Ok Tedi Mining Limited (OTML) is on track to generate US$1.5 billion (K5.8 billion) in revenue for 2024. This is a significant increase from 2023 (31%), 2022 (45%) and 2021 (98%). Managing Director & Chief Executive Officer, Kedi Ilimbit, announced the record revenue at the 2024 PNG Chamber of Resource & Energy Investment Week Conference in Syd...

Ok Tedi Mining Limited is expected to generate K40 Billion in social benefits, taxes, royalties and dividends to its shareholders over the next 26 years. Managing Director & Chief Executive Officer, Kedi Ilimbit, revealed this recently during his presentation at the 2024 PNG Chamber of Resource & Energy Investment Week Conference in Sydney, Aus...

Santos has improved facility reliability of its assets to more than 97 per cent this year with production seeing record days, weeks and months. This was announced recently by Sigurdur Jonsson, Santos Vice President for PNG Operations during the 2024 PNG Investment Week in Sydney. “In our efforts to optimise maintenance strategies, we thoroughly exam...

Prime Minister Hon. James Marape has recently (11.12.24) announced his government’s decision to partially privatise PNG Power Ltd amidst Government’s further decision to open up other parts of the country to independent power suppliers. Prime Minister Marape told the PNG CORE Investment Week in Sydney that Cabinet has approved the decision in one of it...

The internal revenue sup-porting Bougainville’s recurrent and development budgets is only at 7 percent and must be raised to over 50 percent to adequately support the Special Re-gion’s autonomous restructure aspirations. Prime Minister Hon. James Marape revealed this recently (11.12.24) in Sydney dur-ing the PNG Investment Week as he asked for greater ...

The Government of Papua New Guinea, has initialed a landmark Gas Agreement with Twinza Oil Ltd, the operator of the Pasca offshore gas project. This transformative agreement paves the way for the development of Papua New Guinea’s first offshore petroleum project, located off the coast of Gulf Province. It will be submitted to the National Executive Counci...

Papua New Guinea remains one of the world's premier destinations for mining investment, said the Minister for Mining, Hon. Wake Goi, during the recent PNG Investment Week in Sydney, Australia.  Minister Goi stressed PNG's vast mining potential and highlighted the country's mining sector growth, future prospects, and investment opportunities to more tha...

Prime Minister Hon. James Marape emphasised his government’s strategic focus on building a resilient, inclusive economy as Papua New Guinea approaches its 50th year of independence, as the highly anticipated PNG Investment Week Conference 2024 drew to a close at the Sydney International Convention Centre (ICC Sydney) on Dec. 11. The event, organized by...

In an era where cyber threats are evolving at an unprecedented pace, one company has stood out in its unwavering commitment to securing businesses across Papua New Guinea and the Pacific Islands. For over ten years, Sprint Networks has been at the forefront of designing and implementing secure data networks, earning the trust of prominent financial ins...

Mayur Resources Limited (Mayur) is pleased to announce the signing of a Binding Term Sheet Agreement with Pacific Unison Holdings Limited (PacUn) to complete the first development phase of the Orokolo Bay Industrial Sands Project (OBP) in Papua New Guinea. Under the binding agreement, PacUn has committed to fully fund the construction and commissioning...

The Autonomous Bougainville Government has welcomed the successful completion and delivery of the final Phase 1 Assessment Report of the Panguna Mine Legacy Impact Assessment (PMLIA) as a step forward in addressing longstanding environmental and social issues stemming from the Panguna Mine. The report, conducted by independent scientific experts at Tet...

The Port Moresby Chamber of Commerce & Industry (POMCCI), in collaboration with Deloitte, hosted the Papua New Guinea 2025 Budget Breakfast, provided key insights into the budget and highlighted its implications for businesses and opportunities for the private sector. The breakfast meeting was held on November 4, at the Hilton Hotel in Port Moresby. ...

Santos has announced the successful completion of the Angore project in Hela Province, Papua New Guinea, further bolstering the country’s liquefied natural gas (LNG) production capacity. This milestone development, unveiled on November 19, marks a significant step forward for the PNG LNG venture, delivering up to 350 million standard cubic feet (mmscf)...

Plastic pollution has become a critical global challenge, driven by increasing production and inadequate waste management. Recognizing its urgency, 175 nations adopted the resolution “End Plastic Pollution: Towards an International Legally Binding Instrument” during the United Nations Environment Assembly (UNEA-5.2) in March 2022. This resolution in...

The 2025 National Budget of Papua New Guinea, amounting to K28.357 billion, was presented in Parliament on November 29 by Treasury Minister Ian Ling-Stuckey. The budget focuses on addressing law and order challenges, easing living pressures, reducing the deficit, and fostering economic growth. The budget, K980 million larger than its 2024 counterpart, ...

 Michael McWalter picks up his prior discussions of petroleum sector reform (Issue No. 3 2024) and describes in more detail exactly what a Production Sharing Contract, or what a PSC, is all about. In my commentary of PNG Business News, Issue 2, 2023 entitled: Petroleum Sector Reform for Papua New Guinea, I wrote about the need to apply better governan...

Papua New Guinea's Minister for Mining, Hon. Wake Goi, officially opened the Central Cement & Limestone Project (CCLP) Consultative Forum on November 27th at the Hilton Hotel, Port Moresby. The forum, in compliance with Section 3 of the Mining Act 1992, focused on advancing the project's Community Development Agreement (CDA).  The event gathered...

Papua New Guinea's Minister for Mining, Hon. Wake Goi, has reaffirmed his commitment to transparency and efficiency in the country’s mining sector. During a media conference on November 26 at the Mining Haus in Port Moresby, Minister Goi announced the signing of 48 tenement licenses, covering various operations such as alluvial mining, exploration, and...

In high-stakes environments such as mining and shipping, where workers often operate in challenging conditions, the importance of oral health is frequently overlooked. However, maintaining healthy teeth and gums is not just about having a bright smile; it plays a crucial role in overall employee health, productivity, and cost-effectiveness. Investin...