With the signing of the HR recruitment contract, the $US6 billion (K21 billion) Ihu Special Economic project spearheaded by the Kikori district development authority has moved into its second phase of development. Minister for Foreign Affairs and Kikori MP, Soroi Eoe said the signing is significant in that it enables the National Executive Council decisio...

Oil Search has brought a strong financial year in 2020 with a core net profit after tax of US$22.0million (K77m), also reported to a full-year production of 29.0 mmboe and the strongest safety performance since assuming operatorship in 2003.The financial results were significantly lower realised hydrocarbon prices in 2020 as compared to 2019, which result...

The government and Shenzhen Energy of China recently signed the K3.3 billion Ramu 2 hydropower project. According to State Enterprise Minister William Duma, although the conditional power purchase agreement with PNG Power had been signed, there were other financing arrangements that the project consortium needed to work on with their own parties before...

The Lae Biscuit Company (LBC) has met internationally recognised and approved food safety and control measures.One of 10 certified food manufacturing companies in Papua New Guinea, the LBC has been awarded the Hazard Analysis Critical Control Point (HACCP) certification by the Papua New Guinea Certification Services through the National Institute of Stand...

St Barbara Ltd’s Simberi operations in New Ireland is set to transition from mining oxide ore to sulphide. The mine which has been producing gold since 2009 said that its social and environmental impact studies (SEIS) are presently being finished for submission to the Conservation and Environment Protection Authority (Cepa) and Mineral Resources Authority...

St Barbara Limited’s Simberi operations in the New Ireland province has a new general manager in the person of Iso Ealedona.Ealedona was previously the head of operations for the past seven months and is a mining engineer and pioneer of the PNG University of Technology mining degree program. With over 26 years of experience in the industry working in Aust...

In spite of the effects of the pandemic, Swire Shippes continues to thrive as it unveiled its new office in Lae.In attendance during the opening were Swire Shipping country manager Alistair Skingley, partners, customers, employees, and members of the business community.According to Skingley, this new office signals the successes of Swire Shipping, which h...

If low-cost power can be produced, then the investment into the Ramu Two power project may proceed, said Prime Minister James Marape, who was responding to a report that a Chinese investor in the Ramu project had said that the government had nothing to do with this. Marape added that the investment was part of the public-private partnership, where the ...

Kingston Resources has appointed Geoff Callister to help lead the social responsibility programs and project approval at its 3.6-million-ounce Misima Gold Project in Milne Bay Province of Papua New Guinea.This will further expand Kingston’s in-country management team as the project moves further through regulatory approvals and mining studies. Among the r...

The closure of the Porgera gold mine has caused its people to feel the pinch. “We are feeling a lot of effects such as power outages, deteriorating roads, businesses shutting down and many schools and aid posts closed,” said acting district administrator Jerry Mapu, who added that the Paiela-Hewa local level government had all but closed down with an aid ...

Following a public forum in Lae last week, regarding the Wafi-Golpu project, Morobe Governor Ginson Saonu said that there must be a mutual understanding between all stakeholders - which includes provincial and national governments, and landowners and mine developers. He added that many people in Morobe allows the start of the multi-million Kina, except fo...

The government hasn’t breached any laws in granting the environmental permit for the Wafi-Golpu project in Morobe.This was according to Environment, Conservation and Climate Change Minister Wera Mori, who added that the deep-sea tailings placement (DSTP) was the best way for tailings disposal for the project. “We have not breached any laws in granting the...

The merging of bmobile and Telikom into a single operator will be complete in June. According to State Enterprises Minister William Duma, both companies had their own structures, payroll system and assets so the merger would not be straight forward.“When you look at employees and assets, we have to have alignment,” he said. “There are many technical issue...

Papua New Guinea is expecting the delivery of the COVID-19 vaccine around April.This was according to National Pandemic Controller David Manning who said, “We’re working closely with the Australian authorities to make sure that we have a fair share of the vaccination. At this point, we are looking (at) around April. As to what vaccination we will be seeki...

Starting April 3, 2021, Air Niugini will increase its flight services between Port Moresby and Hong Kong from once to twice weekly.Under a codeshare arrangement, services will be operated by Air Niugini’s Boeing 767 aircraft, in partnership with Cathay Pacific Airways.Flights to Hong Kong continued in October last year, operating every Wednesday which all...

Port Moresby residents have been ordering pizza from small business Little CEO Pizza with a touch of a button via Kina Bank’s online payment platform. The local pizzeria collaborated with the bank last year to launch their online internet payment platform that enables individuals or families to simply place and pay for their pizza orders on the Little CEO...

With a focus on engaging more with its membership in 2021, the National Superannuation Fund, Nasfund, has begun its member engagements.In addition to online presentations via Zoom, the Fund’s Client Relations Team has commenced conducting shop-floor presentations, in accordance with COVID-19 protocols. Whilst the shop-floor presentations cover a range of ...

The National Superannuation Fund, Nasfund, is reminding employers to ensure that superannuation contributions are paid on time each month, in line with the Superannuation Regulations.In outlining the Fund’s employer engagements for 2021, Nasfund Chief Officer Member Services Anne Wilson is encouraging employers to ensure that superannuation payments remai...

To bring communication services to the country, State Enterprises Minister William Duma says the Government will provide K100 million to PNG DataCo Ltd. This was after the submarine cable, Australia PNG-2 which served the country for more than 15 years has been decommissioned. For his part, PNG DataCo chief executive officer Paul Komboi expressed his grat...

After 15 years of service, the link of Papua New Guinea to the outside world - through PNG-2 submarine cable - has been decommissioned. According to Minister for State-Owned Enterprises William Duma, this has been a symbol of the relationship between Papua New Guinea and Australia - but things must come to an end. “We have reached the end of an era from 2...

The Mineral Resource Authority plans to decentralise as well as establish an office set up in Kainatu, as mentioned by Kainantu MP and Mining Minister Johnson Tuke during the visit of Prime Minister James Marape to Kainantu. “In my capacity as the Mining Minister I have been working closely with the Prime Minister and we will see that some government offi...

For its half-year financial results, Newcrest Mining has brought a profit of K1.8billion (US$533m).In the company’s market report, managing director and chief executive officer Sandeep Biswas said that the company has delivered a record free cash flow, lifted its dividend and looks at opportunities to unlock significant value at Lihir.“In 2018 we set ours...

The PNG market has adapted to 64 per cent Visa contactless transactions. This is significantly higher than other markets in the Asia-Pacific region such as Hong Kong, the Philippines, Malaysia, and Taiwan. According to Bank South Pacific’s digital general manager, Nuni Kulu, this is a magnificent start for the BSP digital payment system with an adoption r...

The economy of the country will have steady growth this year.According to Senior economist Ilyas Sarsenov of the World Bank, it was predicted to be nine per cent smaller in 2023 compared with pre-pandemic. “Like in the rest of the world, the pandemic’s shock was expected to lead to a long period of below-trend economic growth in Papua New Guinea, “ he sai...