According to St. Barbara's last quarterly report, the company's Simberi facility in New Ireland is doing well with the pre-investment phase of their sulphide project. “The pre-investment phase is advancing well, with initial new fleet purchases completed and the front-end, engineering and design (Feed) study package awarded and on track for delivery in...

The State has received a dividend of over K21 million from PNG Ports Corporation Limited for the fiscal year 2020. This payment of K20, 921, 465.00 comes on the heels of a net profit after tax of K83, 685, 862 last year. PNG Ports Board Chairman Kepas Wali said the payment was made as a result of the company's good financial management and operating st...

Photo credit: BSP Despite continuing to face reduced economic activity, BSP Financial Group Ltd has issued its unaudited September 2021 results, with a Net Profit After Tax of K698 million. COVID-19 continues to have an impact on enterprises in all nations, although tourism-dependent countries have been hit more than others due to limited or non-exi...

Photo credit: Autonomous Bougainville Government  Communities in Buka and Arawa will soon see improved access to stable, clean and sustainable electricity. This follows the announcement of upgrades to the PNG Power electricity grids in Buka and Arawa yesterday. Australian High Commissioner to PNG Jon Philp officially announced this support packag...

Photo credit: PNG Department of Information & Communications Technology - Minister for Treasury, Hon. Ian Ling-Stuckey (left) accompanied by Principal Advisor, Dr Misty Baloiloi in front of the US Department of Treasury , adjacent to the White House, 19 October 2021. In order to modernize PNG's anti-money laundering legislation, the Minister of Tre...

PNG has received a K13 million donation from Japan for road construction equipment. Japanese Ambassador Kuniyuki Nakahara and Minister of Foreign Affairs and Trade Soroi Eoe signed the agreement on paper. Eoe expressed gratitude on behalf of the people and government of PNG, particularly the recipient provinces, to the people and government of Japan...

The 100 per cent national owned Independent Electricity Producer, Dirio Gas and Power Limited and PNG Power Limited, has announced that it would begin delivering power into the Port Moresby grid at the end of this month. Dirio and PNG Power directors inked an agreement that allows Dirio to deliver power to the PNG Power system in Port Moresby. In No...

Peter Fredricson, Acting CEO, said “Oil Search delivered another strong quarter of production, which was up 5% on the previous quarter, demonstrating the resilience of our operations and sustained commitment to the safety of our people and maintaining safe and reliable production. Operating revenues were up 12%, supported by strong growth in oil prices.” ...

Photo credit: Herald Sun Prime Minister Hon. James Marape, MP acknowledged the Telstra announcement through a Market Release on the 25th of October 2021 that Telstra will acquire Digicel Pacific. He acknowledged that this is a commercial transaction that has been concluded under the present regulatory environment which encourages investments in the sec...

Photo credit: Devpolicy by Stephen Howes Yesterday, Telstra announced that it was buying Digicel Pacific. Telstra itself is only paying $270 million, and the Australian government $1.33 billion. Yet, Telstra is obtaining 100% ownership. The deal is certainly an attractive one for Telstra. But does it make sense for Australia, and for the Pacific? ...

Isikeli Taureka's position as managing-director (MD) of Kumul Consolidated Holdings (KCH) was terminated by the National Executive Council (NEC) recently. Professor David Kavanamur has been appointed as interim MD until a permanent appointment is made, and Moses Maladina, the current chairman of PNG Power Ltd, has been named as acting chairman. Taur...

Telstra has announced that it will buy Digicel Pacific for $US1.6 billion, plus up to an additional US$250 million based on business performance over the next three years, subject to government and regulatory approvals. In its six South Pacific markets – Papua New Guinea, Fiji, Nauru, Samoa, Tonga, and Vanuatu – Telstra, Australia's leading telecommuni...

Papua New Guinea Expo Commissioner General and Ambassador to Brussels and European Union Joshua Kalinoe with Click Media CEO and Founder Ms. Noha Jaheen taking a tour of the PNG Pavilion after the PNG investment forum. The Papua New Guinea Expo2020 team in Dubai successfully delivered the first investment forum to the global audience in collaboration w...

His Excellency Nooh Alhammadi, (Left), Director for East Asia and the Pacific (including Papua New Guinea) of the UAE Ministry of Foreign Affairs and International Cooperation receives a Sepik bilum from Papua New Guinea’s Ambassador to Belgium and the EU and Commissioner General for Expo2020, H E Ambassador Joshua Kalinoe. Ambassador Kalinoe is also the ...

Forest Minister Hon. Walter Schnaubelt (left) meeting with UAE Minister for State for International Cooperation and Director General of World Expo2020 Her Excellency Reem Ephraim Al Hashimy. Photo: Courtesy of PNG Expo2020 Media. Papua New Guinea and the United Arab Emirates reached an understanding to strengthening and deepening relations during the b...

The Porgera Project Commencement Agreement was signed by the State and Barrick Niugini Limited, paving the way for the commencement of mining activities at the Porgera Mine. Prime Minister James Marape confirmed the government's commitment to reopening Porgera Mine as soon as possible, with BNL as an equity partner and operator, and vowed to provide BN...

Last Friday, October 15th, Treasurer Ian Ling-Stuckey met with the United Nations' second most senior official in New York. Ling-Stuckey expressed his satisfaction with the informative and productive conversations he had with Amina Mohammed, the Deputy Secretary-General of the United Nations, on incorporating the Sustainable Development Goals (SDGs) in...

Photo credit: Loop PNG - Paulus Ain According to the Independent Consumer and Competition Commission (ICCC), fuel costs may decline as a result of travel limitations imposed by the Coronavirus (Covid-19). The Covid-19 epidemic, according to Commissioner and Chief Executive Officer Paulus Ain, might affect travel and hence lower demand for gasoline. ...

According to PNG Ports Corporation Ltd, the country's two international marine ports have developed considerably in the last four years. According to statistics released last month, cargo volumes increased by 204,518 20-foot equivalent units (TEU) this year, while vessel turnaround time decreased by approximately 50%. PNG Ports owns the Lae and Motu...

Decentralised sewage treatment is not common in Papua New Guinea (PNG) yet according to the United Nations sustainability development goals (SDG's) sanitation and clean drinking water are two of the core fundamentals for society. Whether your site is a community village, an educational institute, regional hospital or mining camp, it needs to adequately se...

Pacific Towing’s commercial dive team is central to the numerous services it provides PNG’s O&G sector including in-water surveys to class with live feeds back to international survey technicians. Pacific Towing, a 44 year old marine services business headquartered in Papua New Guinea has been servicing the oil and gas sector in excess of 10 years....

Photo credit: Adyton Resources Corporation Adyton Resources Corporation has reported an 88% increase in total gold ounces across the company’s 100% owned Fergusson Island Gold Project and Feni Gold and Copper Project, located within Papua New Guinea’s renowned “Rim of Fire”. Fergusson Island maiden Indicated Resource of 175,000 gold ounces at 1.33 g...

Dirio has completed its first power project in Caution Bay, near the PNGLNG Plant Site, which is expected to be operational later this month. PPL needed to modernize its transmission and substation infrastructure, which took a lengthy time. Governor Undialu advised landowners not to trust Facebook zealots who only know how to write beautiful English and h...

According to Des Yaninen, president of the Micro Small Medium Enterprise (MSME) Council, a reduction in employment nationally reflects the current situation of the economy. Commissioner-general of the Internal Revenue Commission (IRC) Sam Koim indicated that private sector employment has decreased, as evidenced by a drop in the salary and earnings tax ...