PNG Economics Bulletin

Section Title

Prime Minister Marape Emphasises Commitment to Securing Maximum Benefits for PNG in Wafi-Golpu Mine Development

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...

MINISTER FOR WORKS AND HIGHWAYS RESPONSE TO CENTRAL GOVERNOR’S CONCERNS ON THE CONNECT PNG PROGRAM

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...

Captain Beverley Pakii Sets New Milestone as Papua New Guinea’s First Airbus A220 Captain

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...

Santos Reviews CEPA Directive for K50 Million Compensation to Kutubu Landowners

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 to two river...

MRA Management, Staff Welcome New Mining Minister Wake Goi

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...

Bougainville Labour Mobility Alumni Celebrate Successful Pilot Program

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...

Santos announces refinancing of syndicated debt facility

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...

Twinza’s Pasca A Gas Project on the cards to boost PNG Economy: PM satisfied with Progress

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...

Kina Asset Management Ltd Declares Record Interim Dividend for 2024

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 million. This record...

STAR MOUNTAIN MUSEUM TO SHOWCASE RICH HISTORY OF OK TEDI MINE

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 anticipated to commence in January of next year following last month’s launching of this significant project jointly by Ok Tedi Mining Limited (OTML), Mineral Resource Star Mountain and the Landowners Royalty Trust Limitted.

“This project is very significant for Ok Tedi given its contribution to the development of Papua New Guinea. It is only fitting that a museum is built to preserve and showcase the company’s history and that of the surrounding mine community for future generations to appreciate and be proud of,” the company stated in a media statement.

OTML Managing Director & Chief Executive Officer Musje Werror said the project once completed would capture Ok Tedi’s rich history from discovery to production and will showcase prominent people including Government and Community leaders who have been behind the success of the company.

“The museum will be shaped like a star which is synonymous to the Star Mountains where the Ok Tedi mine is situated,” he revealed .

MRSM Chairman David Kaiankim applauded the initiative saying it is timely that the landowners are working in partnership  with OTML and other  stakeholders to execute the project.

“When we unite, we achieve greater things as opposed to working in isolation and I must commend everyone for this and pledge our utmost support to this project,” Mr Kaiankim said.

Kumul Minerals Ok Tedi Limited Chairman Bonnie Ninai commented, “Ok Tedi is synonymous with the growth of PNG so the future generations need to know the path the Company took and its colourful history that contributed to building the nation.

OTML Manager, Infrastructure Support Services, Akolo Kotange said his team was excited to commence the project and encouraged all stakeholders to contribute where they are needed to ensure this project is completed successfully.

Share this post

Leave Your Comment

Recent