Photo: Kina’s CEO and Managing Director Greg Pawson Kina has today announced an NPAT of PGK 45.6m an increase of 15% compared to the prior corresponding period (PCP). Kina’s 1H22 results reflect strong revenue growth and ongoing progress against the key strategic priorities of the Group. Kina remains committed to delivering improved returns by growing ...

The Pasca A offshore gas project in Gulf will go ahead once the gas agreement is signed and the petroleum development licence (PDL) is approved, says developer Twinza. Robert Gard, the chief executive officer of Twinza, made the statement while attending the recent induction ceremony for the 11th National Parliament in Port Moresby. “We are awaiting...

Photo credit: PNG Tourism Promotion Authority The PNG Tourism Promotion Authority is still encouraging travellers from all around the world to come to PNG. This was made known at the beginning of this month at the week-long roadshow, The Treasures of the Pacific, a tourism-focused event held in many Australian cities, including Brisbane, Gold Coast,...

Photo credit: Kumul Petroleum - Ila Temu The government must now think about creating a strategy to facilitate the raising of equity capital for fresh resource projects. Dr Ila Temu, country executive director for Barrick Niugini Limited, stated that one of the major challenges that have to be resolved is the financing of equity for resource project...

The re-opening of Papua New Guinea's Pogera Mine must be accelerated as it is a key contributor to the foreign exchange says, BSP Financial Group (BSP) CEO Robin Fleming. The mine has been closed since 2019, but a reopening is imminent after representatives of Mineral Resources Enga and landowners recently signed the shareholder agreement. Foreign e...

The Independent Consumer and Competition Commission has postponed the review of the coastal shipping industry until 2023. In a statement, ICCC Commissioner Paulus Ain said the review, which was started earlier this year to address issues with the market structure and efficiency of the coastal shipping industry, has been postponed until next year after ...

EU-STREIT PNG joins hands with rural youth groups in Papua New Guinea to celebrate the International Youth Day with a message for young population to become proactive and take part in agri-food value chain businesses.  The EU-STREIT PNG Programme in collaboration with rural youths and students in the Greater Sepik region marked the International Youth ...

PNG Study Abroad has been guiding many students in PNG to pursue success in their study abroad journey for almost seven years. Managing Director of PNG Study Abroad, Ms Mitsuki Sato, originally from Japan established her education agency in 2015 shortly after moving to Port Moresby with her family. Mitsuki has since grown the business and in 2018 won the ...

The Autonomous Bougainville Government has rejected Prime Minister James Marape’s statement calling for a nationwide consultation on Bougainville’s 2019 Referendum for Independence results. The ABG’s response is to Prime Minister James Marape’s inaugural statement delivered in the National Parliament following his election as Prime Minister on August 9...

Photo: PM Marape and his Cabinet outside Government House on Tuesday, August 23, 2022. Prime Minister Hon. James Marape says the allocation of four ministries to the agriculture sector is a complete paradigm shift to get agriculture moving again. The Marape Government’s focus on ‘Taking Back PNG’ is deeply embedded in the agriculture sector – which ...

Nambawan Super and Kumul Hotels Ltd, trading as Holiday Inn & Suites and Holiday Inn Express, are pleased to announce the renewal of their Discount Partnership which caters to all Nambawan Super members. Nambawan Super members, with membership ID cards, can now enjoy a whopping 20% off Best Available Accommodation Rates at both the Holiday Inn &amp...

Photo: Consort’s newest addition to its fleet, general cargo vessel ‘Kimbe Chief’, is dedicated to providing a reliable, efficient, and safe service between PNG’s busiest port of Lae and West New Britain’s capital, Kimbe. Papua New Guinea’s leading coastal shipping provider, Consort Express Lines (‘Consort’), recently welcomed the arrival of its latest...

Prime Minister Hon. James Marape says all those involved in election-related violence and crimes will face the full force of the law. He said this recently (August 21 2022) when commenting on the ongoing violence in Mendi, Southern Highlands, since the burning of ballot boxes in the Mendi Police Station in the early hours of last Thursday (August 18 20...

Photo credit: K92 Mining Inc K92 Mining Inc is pleased to announce that it has published its 2021 Sustainability Report. This is K92’s third annual sustainability report, outlining the environmental, social and governance (“ESG”) practices and performance of the Company. The report builds on the progress of our reporting and disclosures including key m...

To build the capacity of the local workforce to support rural road transport infrastructure development projects in Papua New Guinea, the EU-STREIT PNG Programme trained and upskilled a new batch of interested young men and women in the Sepik region.  The EU Funded UN Joint STREIT Programme continues to train more young people from rural Sepik with the...

Photo: Part of a 21-vessel fleet, Pacific Towing’s latest tug acquired as part of its fleet expansion program will be dedicated to harbour towage and permanently stationed at the company’s dedicated tug base in Port Moresby. Melanesian marine services company, Pacific Towing (PacTow), has added yet another tug to its fleet.  The Azimuth Stern Drive (AS...

Photo: Local workforce installing Ark Pacific building units for a replacement camp at a one of PNG’s biggest mines.  The camp encompasses 800 rooms in 16 two-storey accommodation blocks. Prefab modular camp specialist, Ark Pacific, is working with one of PNG’s largest mines to finalise the design stage of a 700 room camp.  Ark has provided the same mi...

Photo credit: Post Courtier - Benny Popoitai Bank of Papua New Guinea (BPNG) claims that the government has to concentrate more on an export-driven strategy. This statement on the country's current amount of foreign exchange was given by acting governor Benny Popoitai. He said that the amount of foreign exchange reserves was $3.08 billion as of M...

The Pasca A project's discussions will resume, according to Prime Minister James Marape.  Marape said that they would start dialogue with them after negotiations had been stalled for months. “I assure resources licence holders for Wafi-Golpu, Pynyang, Papua, Pasca A, and Porgera that to enjoy the benefits of the current regime, we need to work toget...

For many of the country's main importers, the problem of lack of foreign exchange availability continues to pose a danger to supply security in the nation. According to Hulala Tokome, Country General Manager and Director of Puma Energy, they are hopeful that a strong framework in terms of government policies would be in place to address these concerns ...

By the end of December 2021, the total public (government) debt still due was K48.1 billion, or 51.6% of the nation's GDP. The present outstanding debt is made up of K25.2 billion from local sources and K22.9 billion from external sources, according to the acting governor of the Bank of PNG Benny Popoitai. Total government deposits at depository fir...

An official claims that it's important to gauge how much agriculture contributes to the country's economic development, particularly its Gross Domestic Product. The Department of Agriculture and Livestock's acting secretary, Dr. Nelson Simbiken, said: “We want to see in a coordinated manner capital investment programmes that have been invested in the a...

The Shareholders Agreement has finally been approved in Port Moresby by Mineral Resources Enga and the Landowners of the Porgera Gold Mine in Enga Province. Nixon Mangape, director of Mineral Resources Enga (MRE), stated that although MRE had been expected to approve the shareholder's agreement four to five months prior, there were still certain concer...

Photo credit: Pacific Mine Watch Prime Minister Hon. James Marape has welcomed the signing of the Porgera Gold Mine shareholder agreement by Enga Provincial Government-owned Mineral Resources Enga (MRE) and landowners in Port Moresby today (August 18 2022). He said it was a “milestone achievement” towards reopening of the Porgera mine which has been...