Prime Minister Hon. James Marape has provided assurances on the K1.4 billion (approximately A$580 million) loan from the Australian Government, stating that it is well within Papua New Guinea’s 2024 Budget framework and does not increase the country’s debt burden beyond planned fiscal targets. Speaking at the NASFUND FM100 Talkback Show launch, PM Mara...

Prime Minister Hon. James Marape has reaffirmed his administration’s unwavering commitment to strengthening the Independent Commission Against Corruption (ICAC) as a key pillar in the fight against corruption. The Prime Minister emphasised that ICAC will be fully empowered with the necessary resources, legal backing, and institutional support to fulfill i...

Mayur Resources Limited is pleased to announce the execution of definitive agreements with Pacific Unison Holdings Limited  for the construction and operation of the Orokolo Bay Industrial Sands Project, located in Gulf Province, Papua New Guinea. The execution of these agreements follows the previously announced terms sheet signed in December 20241 an...

“There will be no riverine disposal by the Frieda River Copper-Gold Project (FRCGP).” This clarification comes from Phil McCormack, Project Director of Frieda River Limited (FRL), a part of PanAust Limited. Phil made the clarification to help the public understand the design of the proposed copper-gold development. “Frieda River Copper-Gold Project ...

Steamships Trading Company (Steamships) and Laba Holdings Limited (Laba) are pleased to announce the formal establishment of Hebamo Transport Limited (HTL), a dedicated landside logistics company specialising in project cargo and heavy transport. This milestone follows 14 months of collaboration since the signing of a Memorandum of Understanding (MOU) ...

The recent announcements of significant resource development projects in Papua New Guinea are promising for the nation’s economic future. However, the success of these projects—and the prosperity of PNG businesses—relies on a healthy, productive workforce. While foreign investors and project operators are required to employ local workers, only PNG busines...

The PNG Chamber of Resources & Energy (PNG CORE) has made a contribution to Efogi Adventist Primary School to help enhance students' educational experience. The donation, handed over on Monday, February 10, 2025, includes books such as "The Crocodile Prize," "Hunting for Minerals and Oil," "It's a Gold Mine," and guides on starting a business for b...

Prime Minister Hon. James Marape has reaffirmed his government’s commitment to strengthening superannuation and voluntary savings for Papua New Guineans, announcing key reforms aimed at ensuring financial security for retirees. Speaking at the NASFUND FM100 Talkback Show launch on Monday, Prime Minister Marape emphasised the importance of saving for li...

Prime Minister Hon. James Marape has reaffirmed his government’s commitment to advancing the Papua LNG project, confirming that Final Investment Decision (FID) is expected by the end of 2025, paving the way for a new wave of economic growth in Papua New Guinea’s oil and gas sector. Speaking at the launch of the NASFUND FM100 Talkback Show on Monday, th...

Whilst there is potential for growth and opportunities within Papua New Guinea’s mineral petroleum and energy sectors, security challenges remain a cause for concern, particularly in certain regions of the country. This is according to the Papua New Guinea Chamber of Resources & Energy (PNG CORE), when presenting at the recent Business Council of P...

Papua New Guinea has reaffirmed its commitment to successfully hosting the 42nd Board Meeting of the United Nations Green Climate Fund (GCF), scheduled for the last week of June this year in Port Moresby. The GCF Board Meeting is expected to attract more than 300 international delegates, marking the first time the board will convene in the Pacific regi...

Prime Minister James Marape has announced a bold tax reform strategy aimed at fostering investment, increasing consumer spending, and driving local industry growth. The reforms will take effect once Papua New Guinea’s economy reaches a K150 billion milestone, a target expected to be achieved within the next three to four years. He announced this at the Ba...

Prime Minister Hon. James Marape recently addressed the annual Back to Business Breakfast, reaffirming his government’s commitment to economic growth, business sector stability, and national security as Papua New Guinea approaches its 50th anniversary of independence. In his fifth consecutive appearance at the prestigious event, organised by the PNG Bu...

Prime Minister James Marape on Tuesday, February 4, 2025, held a high-level meeting with senior officials from the World Bank, including Country Director for Papua New Guinea and the Pacific Islands Stephen Ndegwa, PNG Country Manager Khwima Nthara, and Lead Economist for Education in East Asia and the Pacific Lars Sondergaard. Also in attendance were Tre...

Ok Tedi Mining Limited (OTML) hosted six geoscience students from the University of Papua New Guinea’s School of Earth Sciences, who undertook an intensive eight-week Industrial Training Program with the company’s Operations (Mining) Business Unit. The trainees were immersed in hands-on learning with different departments and sections such as Explorati...

The Papua New Guinea Tourism Promotion Authority (TPA) and the Australian Government-funded Kokoda Initiative Partnership (KIP) have signed an MOA to boost tourism infrastructure and services along the Kokoda Track. The MOA, signed at Owens Corner on Tuesday 4 February, launches the “Kokoda Sanitation Project”. The Kokoda Sanitation Project is part of ...

The Rotary Club of Lae Huon Gulf has once again demonstrated the power of partnerships in driving community impact, with the success of the 2024 Rotary Gala significantly boosted by contributions from corporate supporters like Westpac. At the heart of this success was the auction of a signed Queensland Maroons jersey, generously donated by Westpac. The...

Papua New Guinea has entered a week of national mourning following the peaceful passing of former Prime Minister Right Hon. Sir Julius Chan at the age of 85, the last standing of the founding fathers of the country.   The Chan family released a statement on Thursday 30 January, afternoon announcing the death of Sir Julius Chan at 12.30pm at his beloved...

K92 Mining Ltd. has announced a series of leadership changes and highlighted the significant contributions of Dr. Chris Muller and Dr. Mark Schubert, both of whom have played instrumental roles in the company’s achievements. Dr. Chris Muller, who joined K92 in 2016, most recently served as the Executive Vice President – Exploration. Dr. Muller was a me...

K92 Mining Inc. has released an update regarding its operations and strategic plans for the future with its 2025 Operational Outlook, which outlines another record year of production plus major capital investment and investment in exploration. John Lewins, Chief Executive Officer and Director of K92 Mining, expressed his optimism and enthusiasm for the...

Negotiations for the Community Development Agreement (CDA) of the Central Cement and Lime Project commenced on Jan. 30 in Port Moresby for the project in the Hiri-Koiari District of Central Province, Papua New Guinea. Officials said the discussions are expected to last at least a week, bringing together key stakeholders to finalize agreements on benefi...

Papua New Guinea’s Minister for Mining, Hon. Wake Goi, has commended the progress of Phase 2 construction at the Central Cement and Lime Project’s wharf in Kido, Central Province of Papua New Guinea calling it “a significant step toward economic diversification and industrial self-sufficiency.” Minister Goi visited the project site alongside the Member...

One of the most pressing issues raised by Papua New Guinea’s Minister for Foreign Trade and Investment, Hon. Richard Maru, is the state of the oil palm industry, which he described as being in “a mess.” MP Maru revealed that the government has commissioned an independent investigation to address regulatory gaps, pricing disparities, laws, and policy, i...

To bring investors into the Yangoru-Saussia District, the Minister for International Trade and Investment, MP Hon. Richard Maru is cleaning up his district with the operation “Ston Brukim Ston” starting in February in line with the preparations for the 50th Independence anniversary of Papua New Guinea. The Minister said up to three investors are intere...