After months of refusing to extend its lease, Papua New Guinea Prime Minister James Marape has finally approved the continuation of the operation of the Porgera gold mine between Barrick Gold Corporation and its Chinese joint venture partner Zijin Mining.According to reports, this news coincides with the release of Barrick’s third-quarter 2020 production ...

Papua New Guinea Prime Minister said that he would like all stakeholders in the Wafi-Golpu project to work together to bring the project forward. This came after the developer of the project made baseline studies to the PM, supporting Deep Sea Tailings Placement (DSTP), at a workshop in Port Moresby.The Prime Minister mentioned that he has heard the conce...

According to the Kina Bank, investment from resource projects is a prerequisite to medium-term economic growth in PNG. Its mid-year outlook has noted that the estimate of the International Monetary Fund would shrink by 4.9 per cent this year. “PNG, by comparison, is expecting a relatively modest 2 per cent fall in the real gross domestic product (GDP),” t...

According to an economist, many of the Pacific Island countries that rely much on tourism such as Vanuatu and Fiji have been hit hard by the pandemic. Institute of National Affairs Executive Director Paul Barker said the pandemic had caused PNG a major drop in commodity prices such as gas and copper, adding that the government had been “in a severe budget...

The Gobe Haus which was a K26.5 million investment by the Mineral Resources Development Company (MDRC) has brought assets to the company in PNG and the Pacific to a total of K6 billion. According to MRDC board chairman Isaac Lupari, MMDRC’s most recent development was the three-storey office building in Top Town. Deputy Prime Minister Sam Basil expressed ...

The year 2021 will witness Papua New Guinea revealing all agreements related to oil and gas, and mining. This, according to the Head of PNGEITI National Secretariat Mr. Lucas Alkan, who added that all contracts and MOUs signed between two parties next year are required to be disclosed to the public. “The current practice in Papua New Guinea is that once t...

Mining has never been this lucrative, as proven in a report by K92 Mining which said that in the third quarter of the year, has harvested at least 22,261 oz AuEq (gold equivalent) at its Kainantu Gold Mine in Papua New Guinea.To be more specific in Q3, K92 has come out with 21,298 ounces of gold, 488,020 pounds of copper and 7,127 ounces of silver, or 22,...

To help with the upcoming 2022 national elections, Prime Minister James Marape said that the government intends to use the biometric voting system. According to him, This same system had been used in different recent elections such as the Goroka Open by-election, the Kupiano ward by-election, Abau, Central, the local level government by-election for the P...

Papua New Guinea’s corporate sector is increasingly embracing gender equality and understanding the importance of women leaders to organisational success and profitability. Never before have so many talented PNG business women been sent on so many leadership courses. However, the extent to which businesses are providing the right environment for their tal...

The ICCC Appointments Committee has recently re-appointed Paulus Ain as the Commissioner and Chief Executive Officer of the Independent Consumer and Competition Commission for the next five years. This was made official by the National Gazette No. G669 of 6th October 2020.Commissioner Ain expressed his gratitude to the government for its decision. He said...

In spite of the pandemic, the petroleum industry continues to be a vital aspect in providing a sustainable future in the PNG. This, according to Petroleum and Energy Department Secretary David Manau, who said that since its first oil production in Kutubu in 1995, the industry continues to thrive. In fact, since 2015, the liquefied natural gas (LNG) has br...

PNGX, Papua New Guinea’s national stock exchange, has recognised JMP Securities Limited (JMP) - which began trading last October 6, 2020 - as a new participating organisation. In a statement, PNGX Chairman David Lawrence, said, “PNGX is very pleased to have JMP Securities joining the market as a new stockbroker. It reflects confidence in the growth opport...

With the support of PNG-Australia Partnership, the Department of Treasury and Asian Development’s Bank (ADB), Private Sector Development Initiative (PSDI), and the Investment Promotion of Authority (IPA) signed a Memorandum of Understanding (MOU) to make doing business together in Papua New Guinea easier and more convenient.Under the MOU, PSDI supports th...

Steamships Limited has a history of supporting the fight against family and sexual violence (FSV) through its pioneer sponsorship of the Coalition for Change, an Advocacy Group that in 2013, successfully lobbied for the introduction of legislation to address FSV. This was a breakthrough, as for a long time FSV was seen as a ‘personal issue’ that needed to...

Pacific Towing (PacTow) has nearly 40 years’ salvage experience in not only its home country of Papua New Guinea but in the waterways of many countries in Oceania and South East Asia. Whether working in partnership with international operators, or individually, PacTow has considerable open ocean, coastal and also river and estuary salvage expertise and ca...

Father of four and midwife at Susu Mamas Clinic in Lae, Simon Amos, is proud to be providing maternal and child care to mothers and babies in PNG's second-largest city.After working as a nursing officer for 10 years, Simon was inspired by a tragic personal experience to pursue midwifery studies and support better health outcomes.“My niece went into labour...

A strategic partnership aims to provide affordable medical access to members of Papua New Guinea’s leading superannuation provider, Nasfund.Through the PIH-Nasfund Healthcare Partnership, active nasfund contributors, and their beneficiaries can take advantage of discounts at the PIH Clinics in NCD, as well as the Lae International Hospital in Morobe provi...

Starting October 2020 all coffee exports will only be facilitated through the use of the Coffee Industry Corporations (CICs) new online export management system.This is in line with the CIC’s strategic focus on moving towards digitalization by processing and documenting coffee exports from Lae and other authorized ports using the new online Coffee Export ...

Survival is the first primary focus of businesses following prolonged lockdowns and ‘new normal’ brought on by the global Covid-19 pandemic that has impacted everybody worldwide. This was the crux of the message from acting CEO of PNG Air, Mr Anthony Pereira during a recent interview with PNG Business News at their 7 Mile head office, in Port Moresby. Whi...

In the last quarter of 2019, PNG Air provided the Aviation Industry with a crucial Media Release: the company received approval from the European Aviation Safety Agency (EASA).EASA has the pivotal role of carrying out certifications, regulations and standardisations while also performing investigations and monitoring. It also works on an international sca...

At James Cook University Brisbane, we try to instil a real community spirit into our students, embracing cultures from all over the globe and celebrating diversity. A recurring theme with our international students is the desire to inspire others from their home country. One student who has taken this to new levels is Michelle Numambo Joseph who has turne...

A group of Certificate IV in Business students from Papua New Guinea who have limited computer experience are revelling in the challenge of online learning in the wake of COVID-19.The 10 students, who arrived in Rockhampton to study Business and English with CQUni in March, are just some of the thousands of students who are now studying online because of ...

East West Transport (EWT) continues to expand its fleet and secure additional ISO accreditations despite the challenges and uncertainties of PNG’s current business environment. One of the country’s largest logistics companies, EWT deployed 14 brand new fuel trucks to Lae, Wewak and Madang in September to service the extension of its five-year contract wit...

Ark Pacific is celebrating 10+ years of delivering all kinds of fit-for-purpose modular buildings throughout Papua New Guinea. Specialising in camp accommodation and office complexes for the resource sector, the company has a reputation for successfully delivering their projects no matter how challenging the building scope or remote the location.Ark’s mod...