Issue 4

Before we knew it, 2023 is almost over, yet our job here at PNG Business News continues as we deliver the latest of Papua New Guinea’s business and resources sectors in our Issue 4 to end ’23 with a blast with our largest issue EVER! A whopping 132 pages.

There’s perhaps no bigger report in the last quarter than PNG welcoming the top gold company in the world, Newmont Corp., to its shores, as Prime Minister James Marape rightly rolled out the red carpet in ceremonies in Port Moresby on 6 November. This is after Newmont acquired all operations of Newcrest in the country. The story starts on page 40.

The Marape-Rosso Government has also announced a new regime for the oil and gas sector at the recent Petroleum and Energy Conference. PM Marape wants Papua New Guinea to establish carbon-negative clean energy as its priority even as it takes its place among carbon-trading countries. More details can be seen on page 74.

Our esteemed columnist Michael McWalter, the former director for the Petroleum Division and adviser to the Government of PNG, reveals to us how Papua New Guinea became and oil producer and then an LNG Producer, in the first of a two-part report starting on page 10. It’s worth following to our next issue in the first quarter of 2024, so keep tabs on this page.

Finally, on the cover we feature the mine site of Ok Tedi Mining Limited at Mt. Fubilan in the Western Province. The Board of OTML on 13 September approved the extension of the mine’s life from year 2033 to 2050, giving the company and stakeholders alike more opportunities to benefit from the longest-running gold, silver, and copper mine in the country.

That story is on page 58, and just flip the pages – in print and in digital online – to read more about our beloved Papua New Guinea. From all of us on the PNG Business News team, thank you for another year of your valued patronage. Cheers and have a blessed holiday season!