Policy reforms that strengthen legal frameworks will help Papua New Guinea (PNG) boost nontax revenues, says the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM).. “Subdued economic growth of 2% in 2023 is largely due to foreign exchange shortages, 20%–30% lower sales in various sectors, and a weakened contribution to g...

The Pacific economy is projected to continue expanding in 2023–2024, but supporting further growth requires additional government resources, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM). Growth for the Pacific is forecast to be 3.5% in 2023 and 2.9% in 2024. Tourism-dependent economies including Fij...

Prime Minister Hon. James Marape has welcomed the reopening of Porgera Mine, which is set to officially restart under SML 13 on 22 December 2023 with New Porgera Limited (NPL) expecting its first gold in the First Quarter of 2024. Prime Minister Marape said New Porgera examplifies a new direction in the handling of negotiations with mining companies fo...

Prime Minister Hon. James Marape praised the dedication and efforts of the 300 contractors involved in the Government’s flagship ‘Connect PNG’ programme for generating employment opportunities for 30,000 individuals, including women, throughout Papua New Guinea. The Prime Minister conveyed his appreciation during the Department of Works and Highways’ C...

Prime Minister Hon. James Marape says the Government’s ‘Connect PNG’ programme will open up Papua New Guinea “like never before” by leveraging unprecedented resource developments. The Prime Minister outlined his vision during the Department of Works and Highways’ Christmas party in Port Moresby recently. “The next 17 years to 2040 will see us building,...

Prime Minister Hon. James Marape has outlined a bold vision for Papua New Guinea’s economic future in an address to the independent Australian think tank Lowy Institute.  He predicts a substantial surge in the country’s economy over the next decade, propelled by six major resource projects. The Prime Minister anticipates a remarkable milestone, reaching a...

Prime Minister Hon. James Marape reaffirmed the substantial progress made by Papua New Guinea since his inaugural address at the Lowy Institute in Sydney, Australia, in July 2019. Addressing the Lowy Institute on Monday, December 11, 2023, Prime Minister Marape outlined significant achievements and acknowledged persisting challenges that require attent...

Prime Minister Hon. James Marape recently highlighted Papua New Guinea’s allure as an investment destination, emphasising its unique status as “carbon-negative, at the 17th Papua New Guinea Resources and Energy Conference held in Sydney, Australia. This declaration positions Papua New Guinea as a frontrunner in environmentally conscious investment oppo...

Sykes Group, a leading name in the realm of dewatering pump solutions, is excited to announce the launch of its latest innovation, the Sykes / Primax XH250. Developed with the distinct requirements of the mining and quarry industries in mind, the XH250 is set to revolutionise dewatering operations in these sectors. Mines and quarries are continually ex...

by Henry Ivarature On 7 December 2023, the prime ministers of Australia and Papua New Guinea signed an historic security agreement in Canberra. It has taken approximately three years to conclude since both countries signed the Comprehensive Strategic and Economic Partnership on 5 August 2020, which committed the parties to develop a bilateral security ...

The 2023 Papua New Guinea Resources & Energy Investment Conference recently held in Sydney Australia was officially opened by Prime Minister Hon. James Marape. Prime Minister Hon. James Marape in his keynote address has acknowledged the collaboration with the private sector and the positive mergers and transitions that have occurred in the likes of...

Ok Tedi Mining Limited projects over K30 billion (US$8.0 billion) in Social Benefits, which includes taxes, royalties, and dividend payments, over the next 27 years. This is based on the company’s current Strategic Business Plan which includes Life of Mine (LOM) extension to 2050, ushering in significant sustainable development for mine operation impac...

It was a significant milestone for the Department of Petroleum and Energy after its completion of the National Ministerial Determination No. G967, No.G968 and No. G969  for the Papua LNG Project that was successfully gazetted and published on the 6th of December by the Government Print Office. This was announced officially by the Minister of Petroleum ...

New Porgera Limited (NPL) is pleased to announce that all legal and contractual conditions necessary for the reopening of Porgera Mine have now been met and the mine is set to officially restart operations on December 22, 2023. With the ramp up of operations, first gold is expected to be poured in the first quarter of 2024. As Prime Minister Marape not...

Freeport Resources Inc. is pleased to announce Papua New Guinea’s Minister for Mining, the Honorable Sir Ano Pala, has approved the renewal of the Yandera Copper Project’s Exploration License 1335 (“EL”) through November 19, 2023, in accordance with the regulatory processes prescribed by the Papua New Guinea (“PNG”) Mining Act. “We are pleased to have ...

The Independent State of Papua New Guinea through the Ministry of International Trade and Investment signed a historic MOU with Wilmar International Limited recently. Minister for International Trade and Investment, Hon. Richard Maru described this MOU signing as the “start of the agriculture transformation in Papua New Guinea”. “This is the first time...

Prime Minister Hon. James Marape expresses his gratitude for the invitation extended by Australian Prime Minister Hon. Anthony Albanese to address the Australian Parliament on February 8, 2024. The announcement was made on Thursday, December 7, 2023, by Prime Minister Albanese during a press conference held outside the Australian Parliament in Canberra , ...

Prime Minister Hon. James Marape expressed his appreciation for the significant progress made in the longstanding relationship between Australia and Papua New Guinea, following the signing of the historic A$200 million (K455 million) Bilateral Security Agreement. The ceremony took place at Parliament House in Canberra, with Australian Prime Minister Hon. ...

Thirty-three (33) women employees from Ok Tedi Mining Limited (OTML) graduated with a certificate of participation in the Company’s RISE Program on November 22nd and 29th respectively in Tabubil. Due to the work rosters, the program hosted two graduation ceremonies to cater for all the participants while onsite. In April this year, OTML commenced the t...

Steamships’ logistics division has invested more than Kina 80 million (approximately USD21 million) in the acquisition of three tug and barge sets to support Papua LNG projects. These tugs and barges have been transferred into the Papua New Guinean flag, expanding the availability of high quality locally owned marine assets available to LNG operators and ...

The Weir Group PLC, a global mining technology leader, has completed a comprehensive study that highlights a significant opportunity to reduce energy use and emissions in comminution, the rock crushing process that is key to minerals extraction, and that consumes around 3% of the world’s electrical power each year1. The study shows that replacing conventi...

The Women in Maritime program, a partnership between Pacific Towing (PacTow), the Australian Government, Consort Express Lines and Swire shipping is pleased to recognise 8 young PNG women who have recently graduated as ‘Officers of the Watch’ in their pursuit of a seafaring career. The women, who were all cadets at PacTow, represent the second and third i...

Steamships and the Embassy of the Federal Republic of Germany are pleased to announce a partnership to fund the redevelopment of Vula’a Elementary School in Hula, Central Province, Papua New Guinea. The joint effort will support the implementation of a community-based comprehensive redevelopment plan that includes the construction of a double classroom...

With the 2023 PNG Resources & Energy Investment Conference commencing in a week’s time, preparations are on track for the event, with major project operators expected to highlight what is in store for PNG in the near future. Among organizations that will feature prominently is Santos Limited, who have confirmed the attendance of their Managing Dire...