PNG Resources | PNG Resources is the leading oil and gas sector publication in Papua New Guinea, delivering unique, accurate and up-to-date coverage of mining and petroleum activities in the Asian Pacific nation.

Mining

November 24, 2020 No Comments Colin Hay

Kingston says Misima PFS confirms long-life, low-cost PNG gold mine potential

KINGSTON Resources Limited has taken an important step towards its objective of becoming a significant new low-cost, mid-tier gold producer in the Asia-Pacific region with the completion of a positive Pre-Feasibility Study (PFS) for its flagship 100%-owned Misima Gold Project in Papua New Guinea. Managing Director, Andrew Corbett, said the PFS confirms the potential to develop a technically robust, large-scale, long-life, low-cost operation delivering gold production of 130,000oz per annum

November 20, 2020 No Comments Colin Hay

Freeport completes acquisition of Star Mountains Gold Project

CANADA’S Freeport Resources Inc. has acquired all of the outstanding share capital of Quidum Resources Inc. providing it with ownership of the rich Star Mountains Gold Project in PNG’s remote Western Province. Quidum is a privately-held company which controls Highlands Pacific Resources Limited, a corporation established under the laws of Papua New Guinea and which owns a series of contiguous exploration licenses located in Papua New Guinea and which are

Petroleum

July 02, 2020 No Comments Colin Hay

Oil Search to reduce workforce by 34%

LEADING PNG petroleum company Oil Search Ltd has released details of a plan to reduce its workforce by 34% in light of the industry downturn. The company, which recently completed a detailed and systematic review of its organisation and cost structure, which came up with some significant findings, including: Oil Search Full Time Employees (FTEs), which include employees and long-term contractors, have been reduced from 1,649 people as of March

June 09, 2020 No Comments Colin Hay

Investigation clears Horizon Oil of alleged PNG bribery allegations

Horizon Oil Ltd reports that an investigation has cleared the company of any wrongdoing in its payment to acquire an interest in PNG Petroleum Retention Licence (PRL) -21 in 2011 it has been found to have not breached any bribery laws. The investigation, which included a forensic review of all aspects of the transaction, was conducted by Herbert Smith Freehills (HSF) and Deloitte with the oversight of an Independent Board

Politics

October 16, 2020 No Comments Colin Hay

Barrick says positive discussion held with PNG Government on Porgera re-opening

PNG Prime Minister James Marape, together with Enga Provincial Governor Sir Peter Ipatas, have met with Barrick Gold CEO Mark Bristow in Port Moresby to discuss the terms of the re-opening of the Porgera Gold Mine. Prime Minister Marape indicated that he was very happy with the discussions that had taken place. “I was very pleased to be able to meet with Barrick CEO Mr Bristow and his team today

August 31, 2020 No Comments Colin Hay

Chamber raises concerns over government’s mining moves

THE PNG Chamber of Mines & Petroleum says it is alarmed at the PNG Government’s decision to fast track the adoption of Production Sharing Contracts for mining and petroleum in place of the Royalty/Tax Concessionary System that has operated successfully since the country’s independence. In a statement, the Chamber said it remains cognisant of the government’s prerogative to review and reform our resource laws and has never been opposed to

Law & Order

June 09, 2020 No Comments Colin Hay

Investigation clears Horizon Oil of alleged PNG bribery allegations

Horizon Oil Ltd reports that an investigation has cleared the company of any wrongdoing in its payment to acquire an interest in PNG Petroleum Retention Licence (PRL) -21 in 2011 it has been found to have not breached any bribery laws. The investigation, which included a forensic review of all aspects of the transaction, was conducted by Herbert Smith Freehills (HSF) and Deloitte with the oversight of an Independent Board

November 27, 2019 No Comments Colin Hay

Barrick welcomes PNG Government pledge to enforce law and order in Porgera region

BARRICK (Niugini) Limited (“BNL”) has welcomed the Papua New Guinea Government’s commitment to finding a long-term solution for the law-and-order problems that have for decades plagued the Porgera region of Enga Province, home to its Porgera gold mine. The Company noted that, following a two-day visit to the region to meet the community and assess the situation first-hand, police minister Bryan Kramer had pledged to sponsor government measures to strengthen

Tourism

February 28, 2020 No Comments Colin Hay

Air Niugini delays delivery of four 737 Max Jets until at least 2024

AIR Niugini has updated its purchase contract with the Boeing Company to delay the delivery of the four Boeing 737 MAX jets it has on order until at least 2024. The airline’s managing director, Alan Milne, said the four 737 MAX jets were ordered in 2014, and the airline had originally been due to receive its first aircraft later this year. “This delay will give the airline more time to

November 29, 2019 No Comments Colin Hay

Rabaul tour operators pitch ideas to cruise passengers

CRUISE passengers docked in Rabaul, East New Britain Province, have been interviewed about potential tours and excursions as part of efforts to strengthen local tourism. Supported by the Australian Government in partnership with Carnival Australia and The Difference Incubator, YuMi Tourism Partners is an initiative being rolled out across the South Pacific region to assist tourism entrepreneurs build their business models to fit the needs of customers. Michael Mihajlov from

Featured

Kingston says Misima PFS confirms long-life, low-cost PNG gold mine potential

Kingston says Misima PFS confirms long-life, low-cost PNG gold mine potential

Oil Search to reduce workforce by 34%

Barrick says positive discussion held with PNG Government on Porgera re-opening

Investigation clears Horizon Oil of alleged PNG bribery allegations

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Mining

Kingston says Misima PFS confirms long-life, low-cost PNG gold mine potential

Freeport completes acquisition of Star Mountains Gold Project

Petroleum

Oil Search to reduce workforce by 34%

Investigation clears Horizon Oil of alleged PNG bribery allegations

Politics

Barrick says positive discussion held with PNG Government on Porgera re-opening

Chamber raises concerns over government’s mining moves

Law & Order

Investigation clears Horizon Oil of alleged PNG bribery allegations

Barrick welcomes PNG Government pledge to enforce law and order in Porgera region

Tourism

Air Niugini delays delivery of four 737 Max Jets until at least 2024

Rabaul tour operators pitch ideas to cruise passengers

Featured

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Mining

Petroleum

Politics

Law & Order

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