According to International Trade and Investment Minister Richard Maru, the construction cost of the Pacific Marine Industrial Zone (PMIZ) project in Madang may be close to K1 billion. Maru stated that although the government had set out roughly K70 million for the project, it might not be sufficient. “We are going to make sure that PMIZ is going to ...

When Parliament convenes in October, it is anticipated that the National Trade Bill, which was approved by the National Executive Council in 2021, will be presented. The National Trade Office Bill aims to address the need for anchoring the government's trade policy role, removing redundancy and resource waste, and giving the newly established National ...

Photo credit: Newcrest With the help of royalties, taxes, a production levy, and vendor agreements, PNG has received K1.5 billion from Newcrest's Lihir Gold Mine in the province of New Ireland. Speaking during the recent induction of the Members of the 11th Parliament in Port Moresby, Newcrest PNG country manager Stanley Komunt stated that the busin...

Prime Minister Hon James Marape recently addressed the importance of the partnership that the government and businesses can foster to discuss policy, financial barriers, technology and innovation so that growth in business can be accelerated.  He highlighted this during the Business Council of PNG's Back to Business Breakfast which was held on the 30th...

Oil Palm growers, investors and stakeholders need to take notice and work closely with the government to revamp the once thriving industry. The newly appointed minister for Oil Palm Hon. Francis Maneke realizes and sees the creation of the Oil Palm industry as a way forward and a huge advance in the industry that has been subjected to indifference for ...

Photo: PM Marape and Health Minister Hon. Dr Lino Tom with members of the medical fraternity at the Medical Symposium recently Prime Minister Hon. James Marape recently (September 5 2022) announced a K42.7 billion health intervention programme for the next 10-15 years in Papua New Guinea. He made the announcement today (September 5 2022) when addres...

Photo: James Marape Prime Minister Hon. James Marape says fisheries must be put on the pedestal in Papua New Guinean as a major business for the country. He said this today (Tuesday September 6 2022) when addressing the Provincial Fisheries Conference in Port Moresby organised by the National Fisheries Authority (NFA). PM Marape challenged the NF...

Photo: PNGX Chairman Mr David Lawrence receives the Securities Commission of Papua New Guinea approval from Acting Chairman Mr Robert Salmon-Minak and Mr James Joshua PNGX, Papua New Guinea’s national stock exchange, has received formal reconfirmation of approval by the Securities Commission of Papua New Guinea to operate a stock exchange. The approval...

Weir Minerals rubber technology has long been a hallmark of its offering to the mining and minerals processing industry. The Warman® MCR® slurry pump is a case in point; often utilised in applications where competitors use metal-lined pumps, Weir Minerals continues to push the boundaries of what rubber is capable of in mill circuit applications. Weir M...

EU-STREIT PNG collaborates with registered enterprises (nurseries) to sustainably supply quality cocoa seedlings in the Sepik region of Papua New Guinea. The Food and Agriculture Organization of the United Nations (FAO), under EU-STREIT PNG Programme, in its mission to increase the production of high-quality cocoa that will improve the agribusiness of ...

EVERYONE’S A WINNER: Mr Gerea Aopi, CBE – PNG Cancer Foundation Chairman and Mr Leon Buskens, Santos Country Chair, PNG along with Team Southern Cross Assurance Limited, winners of the Santos 2022 Corporate Golf Challenge. The Santos 2022 Daffodil Corporate Golf Challenge with the tremendous support of the business community has raised more than K160,0...

The Australian government has signed a new five-year deal with foreign fisheries agencies to address illegal fishing in the Pacific region including Papua New Guinea waters. This was revealed by Australian Foreign Affairs Minister Penny Wong in response to questions on illegal fishing. Wong, who was on a three-day visit, said that access to sovereignty...

Photo: Philip Samar  According to the PNG Chamber of Mines and Petroleum, the government must make greater efforts to safeguard the economy by encouraging exploration to find new projects in the resources sector. Chamber Vice-President Philip Samar said that the resource sector has made direct contributions to the government totaling K2.9 billion to...

Photo: Ok Tedi Mine According to the Chamber of Mines and Petroleum, the resources industry contributes 39% to the nation's gross domestic product (GDP). As current mines near their end of life, such Ok Tedi, which will stop operating by 2030, vice president Philip Samar said exploration was essential for the industry's survival. “Exploration is ...

August 30th commemorates 21 years since the 2001 Bougainville Peace Agreement (BPA) was signed between the Government of Papua New Guinea and the people of Bougainville to cease hostilities in the Bougainville Civil War. Bougainville President Ishmael Toroama said the BPA is a joint creation between the GoPNG and the Autonomous Bougainville Government,...

Photo credit: PNG Chamber of Mines and Petroleum - Stephen Quantrill The Pasca A gas project's developer, Twinza, is prepared to collaborate with regional members of parliament to identify and reap the community advantages of the Pasca Development project. Stephen Quantrill, the executive chairman of Twinza, stated as much at a briefing for the PNG ...

Small and medium-sized businesses have received export orders totaling more than K7 million (US$2 million) as a result of an ongoing commercial collaboration between the British and PNG governments. Keith Scott, the British High Commissioner to PNG, made this statement in response to Prime Minister James Marape's appeal for investors to consider the ag...

The Central Bank has been encouraged to take action and resolve the problem of the country's businesses having a backlog of foreign exchange, according to Prime Minister James Marape. “We’ve reached a K11 billion threshold as far as Forex is concerned. We work to ensure we bring in additional liquidity into the market and so Mr. Popoitai (Central Bank ...

According to Peter Laden, managing director of ExxonMobil PNG Ltd, there are major sources of LNG (liquefied natural gas) supplies outside of Papua New Guinea (PNG). According to Laden, PNG presently accounts for 2% of the market for LNG, which produces eight to nine million tonnes annually. “In the future, even after Papua LNG, we will still repres...

Photo credit: TotalEnergies  According to an official, Papua New Guinea would gain K86 billion from the Papua LNG project throughout its lifetime. Jean-Marc Noiray, managing director of Total Energies PNG Ltd, made the comments at the induction ceremony for new lawmakers in Port Moresby. He said this when acknowledging the country’s laws and regulat...

The clean green energy projects initiative being championed by Papua New Guinea Prime Minister James Marape moves one step closer to take-off as he met the second time this month with Fortescue Future Industries South-East Asia President Allard M. Nooy in Port Moresby today (August 29 2022). The Prime Minister used this opportunity to connect the compa...

Photo: Minister Wong and PM Marape during their meeting in Port Moresby. Prime Minister Hon. James Marape recently (August 29 2022) welcomed Australian Foreign Affairs Minister Hon. Penny Wong to Papua New Guinea. He welcomed Minister Wong during a meeting with her and her delegation in his office in Port Moresby. PM Marape was accompanied by Min...

Prime Minister Hon. James Marape Hon. James Marape says “the story of our country is not bad” as many make it out to be. He said this today (August 31 2022) when welcoming the 2022 Mid-Year Economic and Fiscal Outlook (MYEFO) presented by Treasurer Ian Ling-Stuckey which highlighted the fact that the Papua New Guinea economy was on the rebound. PM M...

Photo: New Office - Nambawan Super Building - Top Town FinCorp embarks on a transformation program as it commences a nationwide branch upgrade that will incorporate the newly revitalized Fincorp brand. The roll out commences with the relocation of the Lae branch, to the Nambawan Super Building, Section: 49, Allotment: 3 – 7, Office 4, Lae, Morobe Provi...