According to BSP Financial Group Limited (BSP), Papua New Guinea's GDP would increase by 4.2 per cent next year as the country recovers from a pandemic-induced slump. “Economic growth is anticipated to rise to 4.2 per cent in 2022 as PNG's economy continues to recover from a pandemic-induced recession in 2020,” according to the bank's Pacific Economic ...

Photo Credit: The Department of Lands & Physical Planning of Papua New Guinea Prime Minister James Marape has stated that his government is considering tax incentives, one of which will be a 100% tax break on capital expenditures. He stated that this was one of the incentives his government was considering implementing to help businesses thrive ...

Papua New Guinea, according to Minister for Foreign Affairs and International Trade Soroi Eoe, has enormous potential to grow into a first-class economy in the Asia-Pacific. During the introduction of the National Trade Office's (NTO) business plan 2021-2025, he stated that PNG has a lively and expanding population that may generate enough demand for l...

Photo Credit: Twinza Oil Ltd The landmark Pasca A Project agreement, in which the National Government will walk away with a 55 per cent interest in the first offshore gas project in the Gulf of Papua New Guinea, will see Gulf Province demand a considerably larger share of the profits. Twinza Oil and the National Government revealed the results of th...

The prime ministers of Papua New Guinea and New Zealand have signed a memorandum of agreement to further their cooperation. The leaders signed a Statement of Partnership in a virtual conference, reinforcing efforts to work through issues of trade and economics, as well as regional solidarity, amid the epidemic. PNG's Prime Minister, James Marape, ha...

External investors can now apply to do business in Bougainville under an amended Inward Investment Act. ABG Minister for Commerce, Trade and Industry Hon. Patrick Nisira made this announcement recently saying that Bougainville is ‘open for business’. “We are looking to deliver on the Autonomous Bougainville Government’s ambition for a strong local e...

The Porgera Mine in Enga Province will continue to roll out its COVID-19 vaccination program for employees and contractors, who are currently part of the Care and Maintenance (C&M)team. When the AstraZeneca vaccine was rolled out at the mine site on the 21st May 2021, 23 volunteer employees and contractors received the jab, and to date a total of 1...

The Asian Development Bank (ADB) has launched a new strategy to help ADB’s Pacific developing member countries (DMCs) improve connectivity and tackle other core development challenges across the Pacific over the next 5 years. The Transport Sector Assessment, Strategy, and Road Map 2021–2025 reviews transport sector performance, summarizes development c...

On June 28, Canadian junior mineral exploration company Freeport Resources Inc. announced it had acquired Carpo Resources Inc. in a definitive share purchase agreement -- and thus took control of the Yandera Copper Project in Madang, within New Guinea’s rich Copper-Gold Belt. Yandera is one of the most prospected resources in PNG that has yet to be min...

Phishing prevention has become essential as more criminals turn towards online scams to steal your personal information. Since you will likely be exposed to a phishing attack eventually, you’ll need to know the red flags.  Because scams are nothing new on the web, but phishing is harder to spot than you might think.  Across the web, phishing attacks have ...

Sexual Harassment is a problem not just for employEES but also for employERS. Did you know that there are real and significant business costs associated with Sexual Harassment? Statistics show that 1 in 5 women and 1 in 20 men experience sexual harassment in the workplace. The Business Case for Addressing Sexual Harassment In addition to the moral i...

A company that has operated in Papua New Guinea for 13 years recently announced that it has changed its name to PNG CR Services Company Limited. Previously known as the Red Sea Housing Company, it has completed 127 major projects, constructing more than 15,000 project accommodation rooms and 750 support facilities for clients such as ExxonMobil, Oil Se...

Image: Lihir geothermal model (Source: Newcrest Mining Limited [1] A recent study by Mineral Resources Authority (MRA) explores the potential of geothermal energy as a possible source of sustainable energy for Papua New Guinea. The Geological Survey Division, Mineral Resources Authority published “Geothermal Energy Resources of Papua New Guinea: Cou...

Here is a recent study that investigates the mechanisms of arsenic partitioning into, or out of, streambed sediments downstream of the Porgera Gold Mine in Papua New Guinea. [1] Arsenic (As) is a metalloid element with atomic number 33. Arsenic is known to be released in the environment during gold mining activities. Preventing toxic contamination of s...

On 19 August 2020, Kumul Petroleum Holdings Limited (Kumul Petroleum) signed an MOA with the Ministry of Health and Port Moresby General Hospital to support the improvement of the Port Moresby General Hospital National Heart Centre. Today, nine months later, Kumul Petroleum follows through on this commitment with the presentation of the first set of speci...

Flat pack building specialist Ark Pacific is further expanding its business in Papua New Guinea while simultaneously exploring opportunities in both Africa and Indonesia.  The company’s growth and international business development initiatives are on the back of 10+ years’ project delivery in Papua New Guinea, primarily in the resources sector. The fir...

The Mineral Resources Authority (MRA) is happy with the conclusion of the recent Consultative Meeting in Wabag, as well as the landowners' demands that the Porgera mine be reopened as soon as feasible. The re-opening of the mine, according to MRA Managing Director Jerry Garry, is contingent on the conclusion of various agreements between Kumul Minerals...

Prime Minister James Marape said that the Papua LNG project in the Gulf will enter pre-Feed (front end engineering and design) in September. “Papua LNG will move into pre-Feed in September after the financial stability agreement was signed in February,” he said. “It is my expectation that as the country celebrates its 46th Independence anniversary o...

Following negotiations last week between the State and developer Twinza Oil Ltd, Pasca Ain the Gulf is likely to get underway shortly. Petrol Minister Kerenga Kua characterized the agreement between the State Negotiating Team (SNT) and Twinza as "by far the greatest" in terms of developing the country's petroleum resources. “We delivered an agreemen...

The cost of doing agriculture in the country is far too expensive, said Minister for Agriculture and Livestock John Simon. He said there are challenges in the sector that are far more expensive. “As soon as I became the minister, I did research and found out that the cost of doing agriculture in Papua New Guinea is high. “For instance, coffee at ...

According to firm chief executive officer Robin Fleming, interest in BSP Financial Group Ltd (BSP) shares on the Australian Securities Exchange (ASX) is strong, with the current bid price of AU$5 (K6.6). Fleming said there were some compliance obligations that shareholders needed to fulfill when BSP got listed on the ASX last month. Obtaining a tax ...

According to a provincial official, mine safety laws need to be updated to keep up with current trends and practices. This was said by Levi Mano, the deputy administrator of East New Britain, at the beginning of a consultation forum for the New Guinea Islands area on the mine and works on safety and health bill 2021, which includes the Mine Safety Act ...

Small-scale alluvial mining will be regulated, according to an official, since the impact on the environment, people's health, and safety is significant. Winterford Eko, acting deputy secretary of the Mineral Policy and Geohazards Management Department, said individuals should be informed of the repercussions of a specific activity. “The Government ...

The Kokoda Track Foundation has appointed Peter Aitsi to its board of directors. Aitsi brings his wealth of experience gained over 30 years in corporate leadership roles and directorships across Papua New Guinea, most recently as group CEO of Credit Corporation PNG and country manager of Newcrest Mining, to his new position, which was confirmed at the ...