Photo: PM Marape launches the new online tax payment platform, MyIRC, with Commissioner-General Koim and managers of IRC Despite a hard economic climate brought on by COVID-19, the Marape Government's commitment in reinvigorating the Internal Revenue Commission (IRC) is paying off with a revenue collection of a record K8.1 billion in the year 2021. ...

The Accumin™ lubrication system has proven itself an efficient way of preventing expensive bearing assembly failures, reducing maintenance downtime and promoting safety by decreasing the amount of manual interface to keep equipment performing. Accumin™ lubricators automatically deliver even, measured lubricant to the vital points of your Warman® pump. ...

Photo credit: PNGEITI - Lucas Alkan Papua New Guinea’s prominent petroleum company, Oil Search Ltd merger into Santos has been welcomed by the PNG Extractive Industries Transparency Initiative (PNGEITI).   PNGEITI hailed the merger as a milestone achievement for both companies who are prominent and competitive players in the PNG petroleum space.   ...

Photo credit: Ok Tedi Mining Ok Tedi Mining Limited (OTML) Chairman Dr Roger Higgins recently announced that the Company has declared a final dividend of PGK300 million which was paid on Friday 24th December to its shareholders, bringing total dividends paid by OTML this year to PGK450 million. Dr Higgins noted that despite a fire incident at the mi...

The Twinza Oil Limited Board of Directors is pleased to announce the appointment of Robert Gard as the Company’s new Chief Executive Officer, commencing on Monday 17th January 2022. Robert has over 35 years of experience in oil and gas including 12 years as a senior executive in junior Australian-based oil and gas companies and 23 years at ExxonMobil. ...

The Asian Development Bank (ADB) and ECOM Agroindustrial Corp. Limited (ECOM) signed a loan of up to $60 million to help sustain the livelihoods of smallholder farmers amid the coronavirus disease (COVID-19) pandemic and improve their ability to withstand the impacts of climate change. The loan will support ECOM’s continued operations in India, Indones...

World Bank and UNICEF surveys of Papua New Guinean families have found that while levels of employment, access to education and healthcare remained relatively stable from January to June 2021, 93% of households in PNG had used at least one economic coping strategy since the beginning of 2021, and 40% had used five or more coping strategies. According t...

The Autonomous Bougainville Government has approved a budget of nearly K500 million for the fiscal year 2022. The 'One Post Referendum Budget' was the topic of the 2022 ABG Budget, which was presented in parliament by ABG Minister for Treasury and Finance Hon. Salas, Mathias “The budget directly addresses all priorities that the ABG has set towards ...

According to the current issue of the Asian Development Bank's (ADB) Pacific Economic Monitor (PEM), the Pacific economies are expected to return in 2022. While the Pacific region's GDP prediction was cut to -0.6 per cent in 2021 in the ADB study, the subregion is expected to increase by 4.7 per cent in 2022 as widespread immunization against coronavir...

Photo credit: PM James Marape News Page - PM Marape (right) receiving the K200 million from KPHL Chairman Ben Yaru The Papua New Guinea government, five PNGLNG-impacted province governments, and landowners have received a total of K551.82 million from Kumul Petroleum Holdings Limited, the country's largest oil and gas business (KPHL). Hon. Prime Min...

The K140 million 12-story West New Britain Haus in Port Moresby, according to James Marape, demonstrates that agriculture is "transformational." He remarked this as he unveiled the West New Britain people's landmark emblem, which was supported by the province's lucrative oil palm sector. The Department of Justice and Attorney-General, as well as all...

Left to right: Mr Kedi Ilimbit who will now be Deputy CEO and General Manager Communities and Operations Support, Mr Harold Duigu is now General Manager Corporate Affairs, Mr David Laulau who has taken up the Deputy General Manager Mining position, Mr Lawrence Na’awi, OTML’s first technical manager from the Western Province. Mr Na’awi is being appointed M...

Photo credit: Mayur Resources Mayur Resources Limited’s 100% owned subsidiary company, Mayur Iron PNG Ltd’s (“Mayur”) Orokolo Bay Iron and Minerals Sands Project (“Orokolo Bay” or the “Project”) in Papua New Guinea (PNG), is a major step closer to production with the PNG Government announcing today it has granted the project a 20- year Mining Lease (ML...

Santos is pleased to announce that it has listed on the official list of the PNGX, Papua New Guinea’s National Stock Exchange, following approval by the Board of PNGX of Santos’ listing application as an exempt foreign entity. The listing of Santos’ shares on PNGX relates to Santos’ merger with Oil Search Limited (Oil Search) which became effective on ...

Santos is pleased to announce that the merger with Oil Search is now effective following the approvals by Oil Search shareholders and the National Court of Papua New Guinea. Oil Search shareholders will receive 0.6275 new Santos shares for each Oil Search share held on the record date of 14 December 2021. Santos Chairman Keith Spence said: “The merg...

The third Papua New Guinea-Australia Annual Leaders' Dialogue was conducted virtually on December 8, 2021, between Prime Minister Scott Morrison and Prime Minister James Marape. The two Prime Ministers recognized the fundamental importance of the bilateral relationship between Australia and Papua New Guinea, as well as our shared interests in a safe, s...

Ok Tedi Mining Limited Chair Dr. Roger Higgins Ok Tedi Mining Limited (OTML) recently announced the appointment of three new directors by its majority shareholder the Kumul Minerals Ok Tedi Ltd (KMOTL) which owns 67% of the Company. Joining the OTML Board are Ms Nellie James who serves as Chair of Kumul Minerals Holdings Limited (the parent company ...

Photo credit: Australian High Commission by Stephen Howes When the COVID-19 pandemic hit, the Australian government reversed its earlier policy of cutting aid, and started to increase it. Aid increased from 2019/20 (before the pandemic) from $4.29 billion to $4.56 billion in 2020/21 (the first year of the pandemic). (All amounts are adjusted for inf...

CEFI Executive Director Saliya Ranasinghe (3rd from left), Bank of PNG Assistant Governor Ellison Pidik (4th left) and AOR / Development Assistance Specialist, USAID Julie Hulama and Maurice Knight (Cardno LGP Chief of party) with the signed financial inclusion partnership documents. The Lukautim Graun Program (LGP) — funded by the United States Agency...

Photo credit: K92 Mining K92 Mining Inc. is pleased to announce results from the ongoing underground diamond drilling of the Kora deposit at the Kainantu gold mine in Papua New Guinea. The results for the latest 50 diamond drill holes completed from underground into the Kora deposit are summarized in Table 1 below. The results continue to demonstrat...

During his official visit to West Sepik, James Marape inaugurated a number of impact initiatives. PM Marape described his visit as a watershed moment, not only for the official opening of the new West Sepik Provincial Administration Building but also for the announcement of other significant projects. “I want to acknowledge the leadership of the Gov...

By the year 2030, Papua New Guineans could anticipate decent healthcare services "within an hour's reach" across the country, according to Prime Minister Hon. According to James Marape. As he summarized the National Health Plan 2021– 2030 before unveiling it in Port Moresby, the Prime Minister gave this command to the Department of Health, namely the H...

According to Prime Minister James Marape, the multi-billion kina Porgera mine will reopen in April of next year. He said that Papua LNG, P'Nyang, and Wafi-Golpu, the country's three main significant resource projects, were "on track." The government also aims to "finish off" the Pasca A oil and gas project. “For Porgera, work to restart (the mine...

According to Twinza chairman Stephen Quantrill, the Pasca A oil and gas project in the Gulf is estimated to bring in about K8.6 billion in direct revenue to the government throughout the project's lifetime. A total of K500 million in tax and royalties is projected to be paid in a year, according to Quantrill, who spoke at the 2021 Mining and Petroleum ...