Prime Minister James Marape has announced a major new land and housing initiative aimed at creating up to 10,000 allotments in Port Moresby, as part of a broader national effort…
PORT MORESBY, Mar. 23, 2026 — Papua New Guinea has the potential to build a strong, job-rich economy but to deliver on this potential, it must unlock more value from…
Port Moresby, March 12, 2026- The Ministry of International Trade and Investment has requested the Department of Works and Highways (DoWH) to set up a Special Economic Zones (SEZs) Building…
A consensus has been reached to develop the cattle industry where the Department of Trade will work with the Livestock Development Cooperation to develop large scale economic zones to raise…
A high-level discussion on Papua New Guineas development progress between PM James Marape and a senior World Bank official ended on a high note with both parties expressing satisfaction on…
Prime Minister Hon. James Marape has met with senior executives of ExxonMobil Corporation at the company’s global headquarters in Houston, Texas, to progress strategic discussions on Papua New Guinea’s next…
Prime Minister Hon. James Marape met with senior United States Government officials on Wednesday (9th July 2025), further strengthening strategic ties between Papua New Guinea and the United States across…
Prime Minister Marape Emphasises Commitment to Securing Maximum Benefits for PNG in Wafi-Golpu Mine Development Port Moresby, 18 March 2025 – Prime Minister Hon. James Marape has reinforced hisgovernment’s strong…
The Marape – Rosso Administration acknowledges the concerns raised by the Governor for Central Province in the news media on the 4th March 2025, regarding security risks associated with the…
Air Niugini’s Captain Beverley Pakii continues to record milestones in the aviation industry, this time becoming the first Papua New Guinean Airbus A220 Captain after successfully completing her type rating…
Santos, the operator of the Kutubu oil fields says it is reviewing a direction by the PNG lead environment regulator to pay millions of kina to Kutubu landowners for damages…
The Mineral Resources Authority (MRA) management and staff officially welcomed the newly appointed Mining Minister, Hon. Wake Goi MP, to the MRA on yesterday. Minister Goi, who serves as the…
Bougainvillians returning from seasonal work in Australia are leveraging their newly acquired skills and earnings to launch agricultural projects and businesses within their communities. Recently, alumni of the Bougainvillean seasonal…
Santos this week announced it had executed documentation to refinance its 2025 maturing syndicated bank loan facility. Santos holds leading shares in the PNGLNG Project following the successful merger with…
Prime Minister James Marape yesterday convened with State Lead Negotiator Dairi Vele yesterday to discuss key developments related to the Pasca Gas Condensate Project, located offshore from Kerema town. The…
Kina Asset Management Ltd (KAML) has announced a historic interim dividend of 20 toea per share for the half-year ending 30 June 2024, following a strong net profit of K9.9…
Ok Tedi Mining Limited (OTML) was recently awarded the Statement of Compliance (SOC) for its Kiunga Port, marking a significant milestone in ensuring the port’s adherence to the International Ship…
PNG leading retailer CPL Group has announced its financial results for the first half of the year, highlighting a 13% decline in revenues, totaling K239.5 million, as the company grapples…
Fisheries and Marine Resources Minister Jelta Wong has announced that the National Tuna Domestication Strategy (NTDS) will be officially launched in the first quarter of 2025. In the lead-up to…
By Roselyn Erehe The National Energy Authority (NEA) has officially introduced its Corporate Plan for 2023-2027, marking a pivotal moment for the energy sector in Papua New Guinea (PNG). Launched…
By Roselyn Erehe Papua New Guinea (PNG) recently hosted significant summits, among which the 2024 IPA Regulators Summit in July stood out. This gathering provided regulatory agencies a platform to…
Tisa Community Finance Limited (TCF) has officially rebranded as TISA Bank following the recent grant of a banking license by the Bank of Papua New Guinea (BPNG). This significant milestone…
NGIP Agmark Limited (NGP) has announced notable growth in its financial performance for the first half of the year ending June 30, 2024, attributing this success primarily to the exceptional…
Credit Corporation has announced its financial results for the first half of the financial year 2024, revealing significant growth in critical performance indicators. For the six-month period ending June 2024,…
Accountability.Fish, a global non-governmental organization focused on enhancing transparency and accountability in international fisheries governance, has issued a strong critique of the Western Central Pacific Fisheries Commission (WCPFC) for its…
In its ongoing move to combat tax evasion, the Internal Revenue Commission (IRC) of Papua New Guinea has launched an investigation into a leading healthcare company, the name of which…
Air Niugini, the national flag carrier, today announced the appointment of Gary Seddon as its Chief Executive Officer, with the Board expressing confidence in further improvements to the airline’s operations.…
The Government has launched a pre-Community Development Agreement (CDA) awareness program in Lae, focusing on the transformative Wafi-Golpu mining project, poised to reshape Papua New Guinea’s economy. This crucial consultation…
PNG Power Limited (PPL) is embarking on a vital initiative to replace all 7-digit prepaid meters with more advanced 11-digit prepaid meters in the National Capital District (NCD) and Central…
In a significant advancement towards inclusive economic participation, Prime Minister James Marape today announced the rebranding of the PNG Resources & Energy Investment Conference and Expo to the PNG Investment…
The Government of Papua New Guinea has issued a strong condemnation of an attempt by Channel 7, an Australian news outlet, to ignite regional tensions with its diplomatic partners, including…
In a strong rebuttal to the Bank of South Pacific’s recent prediction of an 8.5% annual devaluation of the Kina, Treasurer Ian Ling-Stuckey emphasized the need for a more measured…
Prime Minister Hon. James Marape announced on Friday, August 2, that the State Negotiating Team (SNT) is actively in discussions with Wafi-Golpu mine developers Newmont and Harmony, aiming to finalize…
Prime Minister Marape Moves to Revitalize Economy with K50 Million Infrastructure Grant for Wafi-Golpu In a significant step towards revitalizing the economy, Prime Minister Hon. James Marape announced the disbursement…
Prime Minister Hon. James Marape praised the visionary leadership and strategic planning of the Coffee Industry Corporation Ltd (CICL) during the grand opening of its newly constructed K10.6 million Coffee…
Kumul Minerals Holdings Limited (KMHL) has confirmed the payment of K150.75 million in dividends to the State for the 2023 fiscal year, a significant achievement attributed to the strong performance…
Newmont Corporation has officially announced its Bronze category sponsorship of the Geoscience, Exploration & Extraction Conference (GEE) 2024, set to take place from August 7-9. At a ceremony held at…
Papua New Guinea’s tax system has been a challenge for years, with taxpayers shouldering a heavy burden and concerns about maintaining revenue. The Independent Revenue Commission (IRC) understands the challenges…
Steamships Trading Company Ltd. (Steamships) has announced the appointment of Mr. Chris Daniells as its new Managing Director, effective Monday, July 1, 2024. Mr. Daniells takes over from outgoing Managing…
Today Kumul Petroleum Holdings awarded a contract to OilMin Holdings Limited to carry out seismic work in two petroleum retention licences where KPHL is the operator. General Manager, Fintan Lalor,…
The World Bank Group has announced the appointment of Mr. Khwima Nthara as its new Country Manager for Papua New Guinea (PNG), a position that will streamline country-level leadership across…
Kumul Petroleum Holding Limited has made a significant contribution to the ongoing disaster relief effort in Mulitaka, Enga Province, by presenting a cheque for K1 million to Hon. Peter Ipatas,…
Minister Assisting the Prime Minister on Treasury matters Ian Ling Stucky has reported an improved credit rating for Papua New Guinea from a negative B2 to positive B2. This announced…
A delegation from PanAust recently met with Papua New Guinea Prime Minister James Marape to discuss the economic implications of the Sepik Development Project. The project, which includes the Frieda…
The Bank of Papua New Guinea has released its Monetary Policy Statement for Quarter 1 2024, projecting an increase in inflationary pressures for the year ahead. This forecast is attributed…
The Mineral Resources Development Company (MRDC) has successfully concluded an Awareness Exercise on the Clan Bank Account Opening for the Hides PDL1 beneficiaries in the PNG LNG Project in Hela…
A recent report, the Asia Pacific Outlook released in April, has highlighted the crippling effects of an unreliable power supply on economic growth in Papua New Guinea’s main urban areas.…
Prime Minister and Treasurer, James Marape, expressed his warm welcome to Mayur Resources Ltd for securing US$155 million (K540 million) to finalize the Central Lime Project (CLP) in Kido, Central…
Ok Tedi Mining Limited (OTML) has achieved a significant milestone with a record production result for the first quarter of 2024. The company reported an outstanding achievement of 26,114 dry…
Following completion of the Frieda River Project Environmental Impact (EIS) roadshows, the head of Government’s environment regulatory agency Mr. Jude Tukuliya has made a unique site visit on the borders…
Kina Bank has declared a handsome net profit of K105.2 million for 2023. The profit represents a decrease of 0.8 percent relative to 2022 due to tax increase commencing January,…
Amid major changes to its company leadership in 2023, the Ok Tedi Mining has paid K450 million. The SOE announced that the final dividend of K350 million was paid on…
Prime Minister James Marape expressed his support for the newly formed Independent Commission Against Corruption (ICAC) today, heralding it as a significant milestone in the fight against corruption. The commission…
The New Porgera Limited (NPL), company responsible to further develop gold body at Pogera valley in Enga today announced it lodged an application with the Mineral Resources Authority (MRA) for…
The National Government plans to build up to two thousand five hundred houses for public servants at the Duran farm this year, according to housing minister Dr Kobby Bomareo. This…
Canadian mining giant Barrick is happy now that a consensus hand been finally reached amongst key stakeholders to re-open the stalled Pogera Mine in Enga. Its PNG subsidiary Barrick Niugini…
The superannuation industry in Papua New Guinea that hit rock bottom in the year 2000 is in 2023 a leading example of how businesses can be carried in PNG, thanks…
Chris Muller has been promoted as K92 Mining Inc’s Executive Vice President Exploration, the company has announced. Muller is a geologist with over 20 years of experience in open pit…
PNG’s leading superannuation fund, National Superannuation Fund- Nasfund has maintained its partnership with Kalang Advertising as naming rights sponsor for the Nasfund FM100 Talkback Program. This was confirmed in an…
The iconic Valupindi Haus in Waigani will now become the home of the Department of Education following relocation of Department of Finance and Planning to a new building during the…
A memorandum of understanding (MOU) between the Investment Promotion Authority (IPA) and the Eastern Highlands Provincial Administration will enable access to IPA services from the province. The IPA Managing Director…
The Wapenamanda District Development Authority in Enga is embarking on a training program for Small to Medium Enterprises to help expand the local economy. Registration for the SME training exercise…
The Nasfund Board today announced the appointment of Mr. Rajeev Sharma as its Chief Executive Officer replacing Ian Tarutia who is retiring on the 31st March, 2023. The Board and…
Transparency mechanisms built into the topical Papua New Guinea Sovereign Wealth Fund (SFW) will enable an effective functioning of the fund, according to the PNG Extractive Industries Transparency Initiative. PNGEITI…
Barrick Niguini Ltd, operator of the giant Pogera Mine in Enga has named Ms Karo Maha-Lelai as Country Manager to oversee its PNG operations. Lelai who had a short stint…
An undertaking by state owned Kumul Petroleum Holdings Limited (KPHL) to increase its PNGLNG equity through a conditional arrangement between PNGLNG partner Santos has raised concerns over the lack of…
Santos yesterday advised it has received a binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a 5 per cent project interest in PNG LNG for asset value…
The Nasfund Board today announced the appointment of Ms. Tamzin Wardley as the Fund’s new Chairperson from the 1st October 2022. Ms. Wardley has over 20 years of Financial and…
The Papua New Guinea economy is forecast to expand by four percent in 2022, up from one percent in the previous year, according to the latest World Bank Economic Update,…
“Foreign Exchange (FX) market inflows gained momentum in June Quarter. FX inflows are expected to seasonally taper in September Quarter, and outstanding FX orders build-up again,” says BSP Group General…
Bank South Pacific (BSP) will provide normal banking services to its customers today after it closed all branches in NCD at 2pm yesterday. BSP Group Chief Executive Officer Robin Fleming…
A World Bank commitment of US $ 200 million to help the PNG Government address critical development priorities stands to ameliorate cyclical forex constraints PNG business are faced with. The…
The World Bank’s Board of Executive Directors has approved three new projects with a combined commitment of over US$200 million (PGK722 million). The projects will support Papua New Guinean communities…
Good governance provides a conducive environment for investment and opportunities for employment, which in turn generate government revenue from taxes. However, promoting good governance has been a long-standing issue in…
The PNG economy stands to make a quick recovery and growth can pick up this year if the Government acts early to facilitate recovery in a fragile environment as the…
Papua New Guinea’s leading superannuation provider, National Superannuation Fund (Nasfund), and the country’s premier island resort, Loloata Island Resort, have partnered to provide more value for Nasfund contributors. Through the…
By Patrick Köllner During her recent visit to Fiji, new Foreign Minister Penny Wong announced that the Australian government would create a Pacific Engagement Visa, providing a pathway to permanent…
A second review of the Central Banking Act aimed at creating a robust financial system in Papua New Guinea is underway with position papers accepted from the public before 22nd…
Bank South Pacific says forex supply at its disposal is lower compared to the same period last year as there had been a build-up of forex orders in recent months.…
Mr Andre De Bakhapouve is the new Chief Risk Officer with Credit Corporation effective last week. The company announced and welcomed Mr Bakhapouve to the company as its Chief Rrish…
An anti-corruption work-plan by a Government agency has been praised and welcomed by the PNG chapter of Transparency International. The National Economic and Fiscal Commission (NEFC) last week launched its…
A total of K189 million will be paid to landowner groups impacted by the Papua New Guinea Liquefied Natural Gas Project (PNGLNG) as dividend of their commercial share in the…
A museum worth more than K6 million will be built up in the Star Mountains in Western Province to capture the giant Ok Tedi Mine’s rich history. Construction work is…
Christopher Kinver is project director for the Kora expansion in K92 Mine the company announced yesterday. A mining engineer with 20 years experience in the mining industry, Mr. Kinver will…
Mr. Johnson Pundari is new Chief Executive Officer of the National Development Bank commencing June, its Chairman, Darrell Seeto has announced today. Mr. Pundari will take over from acting CEO…
Increasing access to reliable electricity or energy services in villages can improve livelihoods by creating economic opportunities. On Monday April 11, 2022, the final version of the Papua New Guinea…
A recently introduced taxation regime passed by the PNG parliament will deter Foreign Direct Investment (FDI) which the PNG economy needs dearly. PNG’s biggest commercial bank, Bank South Pacific says…
The Papua New Guinea Stock Exchange (PNGX) is part of the United Nations Sustainable Stock Exchange as its newest member, PNGX announced today. PNGX announced that its membership to the…
PORT MORESBY: Papua New Guinea’s second country validation on implementing the Extractive Industries Transparency Initiative (EITI) Global Standard commences on Friday, April, 1st, 2022. Head of the PNGEITI National Secretariat…
The Board of Kina Securities Limited today announced positive results for the financial year 2020 with net profit of 76 million kina declared. The company which acquired ANZ retails operations…
Santos has today joined the Papua New Guinea Government and P’nyang project participants (affiliates of ExxonMobil and JX Nippon) to execute a gas agreement that provides a clear framework for…
by PNG Business News -December 08, 2021 According to ExxonMobil PNG Ltd, the PNG LNG project has earned K11 billion in revenue for the government thus far. This was announced…
by PNG Business News -December 08, 202 According to Prime Minister James Marape, the multi-billion kina Porgera mine will reopen in April of next year. He said that Papua LNG,…
01 Dec 2021 On the back of significant resource growth in the past four years, K92 Mining is already well through its expansion plans to build the next sustainable world-class…
January 20, 2022The NationalBusiness LICENCES for round log exports will only be given to locals and landowner companies including provincial government business arms with the aim of migrating to downstream…
“Oil Search has been a founding member of the PNG EITI Multi Stakeholder Group (MSG) and has played significant roles in the EITI implementation process in Papua New Guinea."
By GEDION TIMOTHY The extraction of minerals such as gold, copper, zinc and petroleum resources such as liquefied natural gas is complex and challenging. The complex and challenging environment presents…
June 21, 2021The NationalBusiness THE Bank South Pacific Financial Group Ltd (BFL) is not of any transaction involving its correspondent banks in Australia being under review.The group was responding to…
June 22, 2021The NationalBusiness By DALE LUMATHE cost of operating a business in PNG is high because of law and order issues, an unreliable or inconsistent supply of power, water…
“the worst is yet to come”. Peter O’Neill, MP He said current indicators of the economy included the unemployment rate with many people out of jobs, inflation going up and…
Ok Tedi Mining Limited (OTML) today launched its new FM Radio Station, Radio Fly.The launching marked the community radio station’s return to broadcasting after nearly sixyears when it was suspended…
TREASURER Ian Ling-Stuckey has announced arrangements for a review of the Bank of PNG, including the review team members and a terms of reference. The review, proposed in the 2020…
PORT MORESBY 9th JUNE, 2021: The PNG Extractive Industries Transparency Initiative (PNGEITI) has praised the open stakeholder dialogue culminating in reaching consensus to re-open the Pogera Mine in Enga. Parties…
The project lead of the offshore Pasca Gas Project in Gulf, Twinza has announced it notes the comments regarding the Pasca A Gas Agreement made by the Petroleum Minister, the…
Kumul Petroleum Holdings Limited, Papua New Guinea’s national oil and gas company, announced today an increase in its aggregate equity in future joint exploration projects with Total SE following talks…
ANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) — K92 Mining Inc . (“ K92 ” or the “ Company ”) (TSX : KNT; OTCQX : KNTNF) is pleased to…
PNGX listed BSP Financial Group Limited (BSP) has successfully joined the Australian Securities Exchange. BSP’s dual-listing will open up the company’s register to Australian investors and boost the liquidity of…
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…
Australia is supporting its Pacific and Timor-Leste partners as we work together to recover as a region from the health, economic and social impacts of the COVID-19 pandemic. In further…
Prime Minister James Marape (Friday June 4th 2021) visited Porgera accompanied by State Ministers and Government delegates to announce the new Porgera Framework Agreement. The agreement was successfully negotiated with…
The Pacific is forecast to return to positive growth in 2021, according to a new report by the Asian Development Bank (ADB) released today. But the region’s outlook remains subject…
Rumors have been floating lately that Government has proposing some changes to the Central Banking Act which would give the executive Government powers to print money as and when needed.…
PORT MORESBY: 26th 2021: The publication of Extractive Industries Transparency Initiative reports are meaningless if they do not give raise to critical policy debates for a robust mining and petroleum…
DEBT ISSUES IN PAPUA NEW GUINEA – PRACTICAL SOLUTIONS
The issue of debt, particularly the fear of it inducing Papua New Guinea bankrupt to the extend of surrendering sovereign rights to creditors has been a source of public anxiety…