The PNG Expo 2020 Pavilion in Dubai hosted a Business to Government (B2G) networking event in cooperation with IBMC Global, a Dubai-based investment firm, which drew interest from investors in tourism, information and communication technology (ICT), transportation, and wood trade. Investors from the UAE and India met and shared information on prospects...

PNG Minister for ICT Timothy Masiu and UAE Minister of State for Economic and Commercial Affairs Ahmed Ali Al Sayegh had a high-level discourse on trade and ICT in the UAE Ministry of Foreign Affairs and International Cooperation in Abu Dhabi recently. Minister Masiu informed Minister Al Sayegh that both PNG and the UAE have maintained cordial and frie...

Photo: Range of Isodry® thickeners (from conventional to paste) gives you the ability to create products with 30-70% solids percentage by weight. Weir Minerals’ range of industry-leading equipment seamlessly works together to provide comprehensive tailings solutions for the mining and aggregate industries. For decades, Weir Minerals have been provid...

It was another quarter of significant developments and milestone achievements across Mayur’s portfolio.  A major highlight was the granting of the Mining Lease for the Orokolo Bay iron and industrial sands project. As with the ML for the CCL project this was achieved in record time despite the impacts of COVID. This was followed by the signing of a mag...

Commenting on the December quarter, Kingston Managing Director Andrew Corbett said: “We’ve hit the ground running in 2022 after finishing last year strongly on a number of fronts. Three key events – the acquisition of the Mineral Hill Mine, the divestment of our interest in the Livingstone Project, and a successful $14 million capital raising – have given...

His Excellency Mr Joshua Kalinoe, Papua New Guinea's Ambassador to Belgium and the EU and Commissioner General for Expo2020, has received multiple Letters of Interest from firms in the UAE and India who recently attended the B2G Economic Networking Forum in Dubai, United Arab Emirates. IBMC Global, a UAE-based investment firm, organized the Economic Fo...

Hon. Minister of Information and Communications Timothy Masiu, who was recently in Dubai to deliver the Keynote Address at the World Expo 2020 in the PNG Investment Forum themed "Eco-Tourism and Connectivity – Living in Balance with Nature," is pleased with the efforts of the lead Department of Foreign Affairs and Trade and the Management team of the PNG ...

Hon Timothy Masiu wants tourists and adventurers visiting Papua New Guinea to be able to experience a mix of modern and traditional PNG lifestyles, so that they can have a cold drink from the fridge, watch the news, and keep in touch with their loved ones even when they are on the most remote islands, hilltops, and valleys. Minister Masiu was addressin...

Photo credit: PNG PM Media Unit The formation of the Independent Commission Against Corruption (ICAC) is advancing, with the ICAC Appointments Committee convening for the second time this year in Port Moresby. Hon. Prime Minister David Cameron James Marape emphasized the urgent necessity for the government to combat the "disease of corruption" in th...

According to the New Ireland Chamber of Commerce and Industry, local jobs would be produced throughout the upgrading and refurbishing of ports around the nation, which will cost roughly K1.48 billion. Nolis Thomas, president of the Chamber, said the initiative might boost the province's export earnings. The Australian government has granted AU$580 m...

Papua New Guinea's economy is expected to grow by 5.4% in real term in 2022 following a muted recovery of 1.5% in 2021, according to National Budget estimates. According to BSP’s 2021 Quarter 4 Pacific Economic and Market Insight, the 2022 National Budget and the Asian Development Bank (ADB) estimate real GDP growth in 2021 at 1.5% and 1.3%, respective...

Photo credit:  According to Robin Fleming, chief executive officer of Bank South Pacific Financial Group Ltd (BSP), the country saw significant amounts of foreign exchange (FX) currency in December. Strong commodity prices, end-of-year dividend payouts, and donor cash for different initiatives, according to Fleming. He stated that foreign exchang...

Stephen Mombi, the Acting Secretary of Agriculture and Livestock, complimented the European Union for sponsoring the EU-STREIT PNG Program, which focuses on the development of sustainable agri-food value chains in the Sepik area. Mr Mombi was presenting at a two-day Geographical Indication (GI) Awareness Conference recently hosted in Port Moresby by th...

The Autonomous Bougainville Government has signed a Memorandum of Agreement with a South Korean partner for investment prospects in Bougainville through its commercial arm (BIPCL). The Memorandum of Understanding with South Korean partners led by Mr Geun-Su Kim will result in the formation of a joint venture called BOU&KO Ltd, which will be certifi...

Photo credit: International Mining Harmony Gold Mining Company Limited wishes to share an update on its production as at the end of December 2021 (“first 6 months of the financial year” or “H1FY22”) ahead of its interim results to be announced on 28 February 2022. South African operations Gold production for H1FY22 from the South African operatio...

Photo credit: St Barbara St Barbara Managing Director and CEO Craig Jetson said, “The end of the December FY22 quarter marks a momentous period for St Barbara. Through the announcement of our acquisition of Bardoc Gold, we took decisive steps towards securing Leonora’s future as a significant processing hub in the Western Australian goldfields. The acq...

Prime Minister James Marape receiving a COVID-19 vaccine in April 2021 (PNG PM Media) Article by Stephen Howes National elections will be held in PNG in the middle of this year. Elections are held every five years, and are very popular events. Though voting is voluntary, voter turnout is just below that of Australia, where voting is compulsory. An e...

Photo credit: K92 Mining K92 Mining Inc. is pleased to provide its operational outlook for 2022. The Company expects a significant, year over year, increase in gold equivalent production of up to 34% to 115,000 to 140,000 ounces, while also delivering low-cost production with an estimated cash cost of $560-$640 per ounce gold and all-in sustaining cost...

THE governments of Papua New Guinea and Australia have signed an agreement worth USD435 million (AD580 million or PNGK1.48 billion) for Australia’s funding of the refurbishment and upgrade of ports in PNG. The massive funding, to be executed through PNG Ports Corporation, is the biggest single investment by Australia in any sector and project in the hi...

Photo credit: PNG Chamber of Mines and Petroleum Parliament recently (January 19 2022) passed the Mineral Resources Development Company (MRDC) Ltd Authorisation (Amendment) Bill 2021, after it was introduced by Prime Minister Hon. James Marape. The Bill allows for governance procedures relating to appointment of directors on the MRDC board, and the ...

The New Britain Highway, which connects Kimbe in West New Britain with Kokopo in East New Britain, has been given a K138.5 million contract, according to James Marape. Cabinet authorised K1.4 billion for new road contracts around the country, including the New Britain Highway, last week. PM Marape stated this in Parliament in response to a query fro...

As of 2020, no new round log export permits have been awarded to foreign corporations, according to James Marape. He stated in Parliament that round log exports must cease by 2025. PM Marape stated this in response to queries from Hon. Ambunti-Drekikier, the Member of Parliament for Ambunti-Drekikier. Foreign enterprises exporting round logs, accord...

Photo credit: Oil Search According to Petroleum Minister Kerenga Kua, the production of liquefied natural gas from the Juha petroleum development licence nine (PDL 9) region in Western has yet to begin. Kua stated this in response to Western Governor Toboi Awi Yoto's inquiries concerning the PNG LNG project's integration with other PDL regions and t...

Agriculture and Livestock Minister John Simon believes that coffee and cocoa should be exported through a government organisation. Simon stated the private sector could not continue to export and suppress prices in response to concerns from Pomio MP Elias Kapavore. “I have talked to the department (Agriculture and Livestock) and the commodity boards...