Twenty-two new apprentices officially joined Ok Tedi Mining Limited’s (OTML) Apprenticeship Training Program, after signing their Indenture Contracts with OTML and the National Apprenticeship Trade Testing Board (NATTB) on January 30th in Tabubil, Western Province. The 22 apprentices are enrolled in various trades including auto electrical, carpentry, ...

Mayur Resources Limited wishes to update shareholders regarding its announced partnership with PT SEA First Nickel Industry (PTSFNI) on 23 January 2024 concerning the Orokolo Bay Vanadium, Titanium, and Iron Sands project in Papua New Guinea (PNG). PTSFNI has requested to put on hold its obligations to fund the development of the Orokolo Bay project, c...

The seven landowning communities of the proposed Frieda River Copper-Gold Project have reaffirmed their commitment to work collaboratively with PanAust Limited at the first Community Leaders Forum for 2024. The Community Leaders Forum is a regular pre-development meeting that provides an opportunity for Frieda River Limited to inform and consult with k...

Financial Statement Highlights: • Strong Balance Sheet o Cash on Hand of $214 million including $168 million available cash and $46 million restricted cash o Listed Investments of $26.1 million • Growth Capital of $4.6 million incurred to rapidly advance development projects: o Resource definition supporting a targeted upgrade of 1 Moz...

Prime Minister Hon James Marape, recently witnessed the first gold pour of the New Porgera Mine, since the expiry of the then Special Mining Lease (SML1) in 2019. The event signifies that it will be 'all systems go' come July when full operations are expected to commence. The PM was on-site accompanied by the Governor for Enga Province Hon Sir Peter...

Production in 2024 is expected to be 120,000 to 140,000 ounces gold equivalent (“AuEq”). The second half of the year is expected to be the strongest, as operations progressively ramp up ahead of the new 1.2 million tonnes per annum (“mtpa”) Stage 3 Process Plant commissioning, scheduled for the end of Q1 2025. Cash costs between $820-$880 per ounce gold...

The Minister for International Trade and Investment, Hon. Richard Maru recently announced that the Government has issued new policy directions for Special Economic Zones (SEZs) in Papua New Guinea (PNG) to give first priority to PNG investors. “The Marape-Rosso Government enacted the Special Economic Zone Authority Legislation in 2019 without the polic...

Minister for International Trade and Investment, Hon. Richard Maru today announced that Papua New Guinea (PNG) will roll out Trade Commission Service this year. “I am happy to inform the country that PNG is appointing Honorary Trade Commissioners across the world this year with the first being the Honorary Trade Commissioner to Australia and the Philip...

Abu Dhabi, February 25, 2024- The Minister for International Trade and Investment, Hon. Richard Maru indicated to his counterparts from Pacific ACP who had gathered in Abu Dhabi, United Arab Emirates for the World Trade Organization (WTO) 13th Ministerial Conference (MC13) that Papua New Guinea will maintain its position to standstill on fisheries subsidi...

First two holes from K92’s maiden drill program at the Arakompa project (“Arakompa”), located ~4.5 km from the Kainantu process plant, recorded significant mineralization, with 4 high grade lodes intersected in hole KARDD0002 recording 7.20 m at 24.76 g/t AuEq, 5.70 m at 9.94 g/t AuEq, 5.30 m at 6.06 g/t AuEq and 3.60 m at 3.38 g/t AuEq (See Fig 1), and s...

Kumul Petroleum Holdings Limited, Papua New Guinea’s national petroleum and energy company, announced recently that all necessary verification had been completed with the representative company of the PDL 2 landowners, enabling them to receive their portion of accrued Kroton Equity Option (KEO) preferential dividends. Wapu Sonk, Managing Director of Ku...

Freeport Resources Inc. is pleased to announce that further to the Company’s news release of December 11, 2023, Papua New Guinea’s outgoing Minister for Mining, the Honourable Sir Ano Pala, approved the renewal of the Yandera Copper Project’s Exploration License 1335 (“EL”) through November 19, 2025, in accordance with the regulatory processes prescribed ...

The PNG Industrial & Mining Resources Exhibition and Conference set to be bigger and better in 2024. The PNG Industrial & Mining Resources Exhibition and Conference (PNG Expo) is the premier event that brings together all sectors of the industrial, mining and resources industries into one location to create a marketplace where business is done....

Papua New Guinea’s diver recompression facility, strategically located in Port Moresby, has saved many lives and prevented numerous long-term disabilities since it opened in 2004.  Although recreational divers have traditionally been the most frequently treated, the last five years have seen an increase in commercial diver patients.  Given the surge in pr...

Weir’s Chief Strategy and Sustainability Officer Paula Cousins recently spoke at COP28 in the United Arab Emirates about the importance of harnessing innovative technologies to make mining more sustainable.  In a panel discussion hosted by the Ministry of Economy, Trade and Industry of Japan and moderated by the World Business Council for Sustainable D...

Seafaring officers are no sooner graduating from their cadetships than being snapped up by maritime companies keen to fill gaps in their workforces. Take for example, recent graduates of the Deck and Engine cadetship programmes of Pacific Towing (PacTow) and Consort Express Lines (Consort).  Many of these new ‘Officers of the Watch’ secured employment wit...

The Australian Infrastructure Financing Facility for the Pacific has pledged a grant and concessional loan package totaling USD150 million to Papua New Guinea for the purpose of enhancing and repairing crucial energy infrastructure. This commitment was affirmed during Prime Minister Marape’s visit to Canberra on February 8, 2024. The funding will be al...

Papua New Guinea’s Prime Minister, James Marape, made history by addressing Australia’s parliament in Canberra on 8 February, marking the first occasion a leader from a Pacific Island nation has done so. Marape’s speech underscored the deep-rooted ties between Papua New Guinea and Australia, characterising the latter as PNG’s “big brother” and emphasising...

Australia’s new High Commissioner to Papua New Guinea, His Excellency John Feakes has officially presented his letter of introduction to Papua New Guinea Prime Minister James Marape. Australian Foreign Minister Penny Wong announced Mr. John Feakes’ appointment as Australia’s next High Commissioner to the Independent State of Papua New Guinea in Septemb...

The Chairman of Paga Hill Estate, Mr. Peter Barge announced recently that the Radisson Blu Hotel at Paga Hill be 40 per cent owned by Papua New Guineans. Mr. Barge made this announcement in a press conference with the Minister for International Trade and Investment, Hon. Richard Maru and the Managing Director, Australasia of Radisson Group, Mr. Lachlan Ho...

Papua New Guinea (PNG) needs to work on developing a very strong, deep, and a robust relationship with Indonesia, says the Minister for International Trade and Investment, Hon. Richard Maru who will be leading a trade delegation to Indonesia at the end of March this year. “We have wasted the last 50 years. Indonesia is the country we should have focuse...

Prime Minister and Treasurer Hon. James Marape has extended his gratitude and apologies to all businesses that have supported Papua New Guinea over the years,  in an address recently to the business community during the annual Back-to-Business Breakfast sponsored by Kina Bank in Port Moresby, The Prime Minister’s speech comes in the wake of the events ...

Prime Minister and Treasurer Hon. James Marape has described Morobe as one of the “most-important” provinces of the country which anchors 70 per cent of Papua New Guinea’s economy. He reiterated this sentiment on Friday, February 16, 2024, when receiving the K681 million Morobe Provincial Budget from Morobe Governor Hon. Luther Wenge. Prime Minister Ma...

Beltech Engineering, born as a one-man mining maintenance consultant that has grown into a significant national presence in Australia, now extends its expertise and commitment to excellence internationally to Papua New Guinea and the wider Oceania region. As a renowned engineering, fabrication, and maintenance services provider to the mining and heavy ...