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Senior Harmony Executives visit PNG and meet with PM Marape
Senior Harmony Executives from the company’s South African offices visited PNG recently. Harmony has several significant interests in Papua New Guinea, and the executives toured their assets and met with Prime Minister Marape. The company stressed their continued commitment to growing and investing in PNG. Harmony’s Boipelo Lekubo, Financial Director, and Marian van der Walt, Senior Group Executive: Enterprise Risk and Investor Relations, talked about the company’s long-term interests in
Angore Project hugely beneficial for PNG, says Santos
Santos President Upstream Oil and Gas, Brett Darley, has said the Angore Development Project would be a significant plus for Papua New Guinea. Mr Darley made his comments at the Australia Business Forum in Brisbane as he announced the next tranche of backfill gas that will help maintain PNG LNG production. The first gas from the development is due in 2024. Santos’ capital expenditure share would be about US$135 million
PNG Resources Q2 2022
Government funds completion of multiple highways
Prime Minister James Marape has said that his government has provided funds to complete multiple highways throughout the country. The roadwork payments are part of the government’s ‘Connect PNG Programme’, which has seen K2.4 billion in expenditure over the last three years, with K1.4 billion spent this year alone. The funds have gone to multiple projects. For example, K400 million was used to complete the Yalu Bridge-Nadzab section of the
Institute of National Affairs says all resource projects need assessment
Paul Barker, the executive director of the Institute of National Affairs (INA), has said that all resource projects need to be examined and assessed. This assessment applies to both extractives and significant renewable energy projects like hydropower. The INA director said this was crucial as projects must provide a net benefit to the nation. Resources should create jobs and increase revenues and economic benefits, but this needs to be balanced
Ten-year biosecurity policy launched
PNG’s National Agriculture Quarantine and Inspection Authority (NAQIA) recently launched its first ten-year biosecurity policy. The policy will run from 2022 to 2032 and aims to ease trade within Papua New Guinea, conserve biodiversity, and allow for commodity imports. The general director of NAQIA, Joel Alu, has said the biosecurity policy would act as a springboard for the authority and the agriculture industry. He hopes it will result in regulations
PNG customs get tough on local manufacturers and importers
David Towe, the PNG Customs chief commissioner, has warned stricter measures are being introduced. He said local manufacturers and importers had been warned that they could face fines of a million Kina if they failed to comply with the law and didn’t pay taxes. “Last year, we increased all the penalties that applies to the non-compliance; in the past, it was not tough. The penalties have increased almost 100 per
NEW HARBOUR TUG FOR PNG
Dedicated harbour tug ‘Koranga’ arrived in Port Moresby in June as part of Pacific Towing’s re-fleeting program. Purchased in Singapore, and then despatched to Indonesia for her first project, Koranga will be soon permanently stationed in Lae. Koranga is one of seven Azimuth Stern Drive (ASD) tugs in the fleet, together with five conventional tugs, and nine work boats. Lae Port, PNG’s busiest port, is utilised by an increasing number of larger
World Bank approves three PNG projects worth US$200 million
Three new PNG projects worth a combined US$200 million (around K722 million) have been approved by the World Bank’s Board of Executive Directors. The projects aim to improve roads and transport, child nutrition and protection, and work conditions and mobility. The Australian Government has also pledged additional support for the schemes. Stefano Mocci, Country Manager at the World Bank for Papua New Guinea, said, “Collectively, these new projects will help