Photo of: Tasman Samuel, General Manager, Colony Papua New Guinea Colony is a 100% independent, full-service strategic communications agency that had its inception in Asia-Pacific in 2012. So, it’s only befitting that for the first time ever Colony were a Diamond Sponsor of the 36th Australia Papua New Guinea Business Forum and Trade Expo along with K...

Twinza notes the comments regarding the Pasca A Gas Agreement made by the Petroleum Minister, the Hon. Kerenga Kua, in a media release of 25th May 2021. Twinza is currently awaiting a response from the Petroleum Minister as to whether the terms offered to the State, and outlined most recently in the Twinza media release of 19th April 2021 are acceptabl...

Mr. Henray van Vyve, Managing Partner of Meurisse Chocolate NV (right), a Belgian Chocolate manufacturer that uses PNG cocoa beans, presents the Papua New Guinea brand to Ambassador Joshua Kalinoe at the PNG Embassy in Brussels, Belgium. (Photo-courtesy of the Embassy of Papua New Guinea, Brussels, Belgium). A Belgian chocolate manufacturer has include...

Swire Shipping serves the many communities in the Pacific which are directly impacted by global warming. “With many communities at risk of disappearing we must take action to drive change. We are committed to reducing our GHG footprint, ultimately to net zero by, and preferably well before, 2050,” said James Woodrow, Managing Director, The China Naviga...

Photo Credit: Wafi-Golpu Joint Venture   Landowners of Morobe's US$5.4 billion (K18.48 billion) Wafi-Golpu gold and copper project are urging the government to proceed with the project. The landowners of the special mining license 10, who were represented by their presidents from Hengambu, Yanta, and Babuaf, stated the project had been delayed fo...

Even though Papua New Guinea produces oil and gas, making inexpensive energy available remains a difficulty, according to Minister for Petroleum Kerenga Kua. He believes that this is why the Energy Department must adopt a holistic strategy to lowering energy costs by introducing new energy sources such as hydropower, geothermal energy, and wind turbine...

Morobe Governor Ginson Saonu. Photo Credit: PNG Bulletin 2021   The Morobe Government will cooperate with the National Airport Corporation to begin the Aviation in Agriculture and Fisheries initiative on June 18, 2021. A memorandum of agreement will be inked, according to Morobe Governor Ginson Saonu, to obtain a part of the money collected at Na...

Photo Credit: Papua New Guinea Travel According to Gudmundur Fridrikkson, chief executive officer of Paga Hill Development Company, the country can generate US$250 million (K869.60 million) in 18 months if 80 of the 300 cruise ships that pass by are allowed to visit. Fridrikkson stated that the country needs the appropriate products and infrastructu...

Photo Credit: Paga Hill Development Company - PNG Ltd In accordance with the Marape-Basil government's Special Economic Zone concept, a new multi-million kina casino would be built in Port Moresby to encourage tourists and stimulate other economic activity. The National Gaming Control Board (NGCB) and the Paga Hill Development Corporation (PHDC) hav...

PNG Power Managing Director Flagon Bekker said the company's assets have a lot of potential for generating income and maximizing their use to help the country distribute energy more efficiently. PNG Power has the capability and assets to provide that opportunity and needs to look at the best solutions to accomplish this sort of outcome, he said. Electr...

Photo Credit: Oxford Business Group   According to ANZ PNG managing director Mark Baker, the country's long-term survival rests on diversifying its economic base to allow agriculture and manufacturing to thrive. Baker stated that it will need increased investment in infrastructure, particularly roads and power. “The source of that significant ...

According to Petroleum Minister Kerenga Kua, the first cargo of the liquefied petroleum gas (LPG) from the US$1.6 billion (K5.5 billion) Pasca A project in the Gulf is expected to start in 2025. It will be the country's first offshore extractive resource project with infrastructure, located 95 kilometres offshore in seas 93 meters deep in the Gulf of P...

Photo credit: Santos The National Government is set to concluding all project discussions for the $US11 billion P'nyang gas project by the third quarter of 2021. This, according to Petroleum Minister Kerenga Kua, will provide project partners enough time to obtain Sales and Purchase Agreements (SPA) and achieve a Final Investment Decision (FID) by 2...

Aerial view of the Porgera gold mine. (Image courtesy of Zijin Mining.) The Prime Minister, Hon. James Marape, MP will formally handover the Framework Agreement for the reopening of the Porgera Mine in Enga Province to the affected landowners. PM Marape announced this today following reports that the affected landowners in the province have apparent...

Photo credit: Total (2019) By 2027, the first gas from the Papua LNG Project is planned to be sold. As a result, the government will receive an additional 7% free carry in equity from the project. The pre-FEED phase of the Total E&P (PNG) Limited-led joint venture project in Caution Bay will be completed by the end of this year, followed by F...

Thursday 27th May 2021, marked a significant phase for the operations of Morobe Alluvial Mining Limited with the hosting of the Warden Hearing of the Mining Lease for the Maus Markham Project (ML 167). Morobe Alluvial Mining Limited (MAML) was established on the 14th May 2020, and came into full operation with the appointment of Chief Executive Officer...

Kina Bank is pleased to announce the appointment of Judith Ugava-Taunao as Chief of Staff reporting directly to the Chief Executive Officer. In this new senior leadership role, Judith will take a position on the Executive Committee, demonstrating Kina’s continued commitment to promoting PNG women into leadership roles. Judith joins Kina Bank with a dis...

Oil Search confirms that the Company received a letter from PNG Power Limited (PPL) that could significantly impact the PNG Biomass Power Purchase Agreement (PPA) which was signed between both companies in December 2015. The Company has analysed the implications of the letter’s unforeseen ‘notice of termination’ and is currently engaging with all key stak...

The publication of the PNG Extractive Industries Transparency Initiative reports are meaningless if they do not give rise to critical policy debates for a robust mining and petroleum sector in Papua New Guinea, an official says. Head of PNGEITI National Secretariat Mr. Lucas Alkan told leaders at the 36th Australia Papua New Guinea Business Forum on We...

Ok Tedi Mining Limited (OTML) launched its COVID-19 Vaccination Roll-out on Friday 21st May in Tabubil, Western Province. The launching marked the first batch of 1,000 doses of the AstraZeneca vaccine which OTML received from the National Department of Health on Wednesday 19th May. OTML Managing Director and Chief Executive Officer Musje Werror with...

The Russian Federation has declared that it is happy and willing to supply the Sputnik V vaccine to Papua New Guinea. It said that once the pandemic is over, Prime Minister James Marape will be welcomed to Russia. The Russian government is negotiating with Papua New Guinea to create a reciprocal visa-waiver deal. This was said by Ludmila Vorobyov...

The Mineral Resources Authority (MRA) will provide a division that will concentrate on what happens when a mine closes. One of the problems found in the industry, according to managing director Jerry Garry, is mine closure. “We are also looking to make sure that there is proper planning or sustainability beyond a mine closure,” he said. “When we clo...

The Bank South Pacific Financial Group Ltd has had its application to join the Australian Securities Exchange (ASX) accepted. The bank will be listed on the ASX this week, according to Group Chief Executive Officer Robin Fleming, and shareholders will be able to transfer partial shares to the ASX. “We were listed on the PNGX (PNG Stock Exchange) in ...

In the first quarter of 2021, South Pacific Financial Group Ltd recorded a net profit of K203 million. According to the bank, this is a 2.6 per cent decrease from the first quarter of 2020, owing to a decrease in net insurance revenue and a rise in computing costs. Some highlights included net assets of K3.6 billion, a cost to income ratio of 40.3 p...