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May 20, 2020 - No Comments

K92 reports significant high-grade resource increase at Kora

K92 Mining Inc. has reported a 180% increase in its updated resource estimate on the Kora deposit, at its producing Kainantu Gold Mine in Papua New Guinea. The resource estimate is based on surface and underground exploration diamond drilling and underground face sampling (grade control). The Kora eeposit Mineral Resource Estimate highlights include: Measured and Indicated Resource of 1.1 million ounces at 10.45 g/t gold equivalent (“AuEq”) representing a +180% increase from the previ...

Mining

May 25, 2020

Ok Tedi declares 2019 Full Year Profit After Tax of K754 million

Petroleum

May 18, 2020

PNG Government and Twinza to commence discussions on Pasca A gas development

Politics

April 25, 2020

Barrick says non-extension of Porgera SML a catastrophe for Landowners

Law & Order

November 27, 2019

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

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Mining

May 25, 2020 No Comments Colin Hay

Ok Tedi declares 2019 Full Year Profit After Tax of K754 million

FOLLOWING the Ok Tedi Mining Limited Annual General Meeting held on 22 May 2020, Chairman Sir Moi Avei KBE announced that the Company had recorded a 2019 Profit After Tax of K754 million (US$222 million). This was an increase of K289 million or 61% compared to the previous year. “The Company distributed PGK 400 million in dividends during 2019 while investing a further PGK 408 million in the strategically important

May 20, 2020 No Comments Colin Hay

K92 reports significant high-grade resource increase at Kora

Petroleum

May 18, 2020 No Comments Colin Hay

PNG Government and Twinza to commence discussions on Pasca A gas development

TWINZA Oil has welcomed an announcement by PNG Prime Minister, James Marape, that the country’s National Executive Council has endorsed the submission for development of the Pasca A gas-condensate field in the Gulf of Papua. The Government is said to be ready to commence negotiations with Twinza on the Gas Agreement in the near term, setting out the fiscal terms to allow the Project to enter the Front End Engineering

March 25, 2020 No Comments Colin Hay

PNG project delays raise concerns from global and local financiers

GLOBAL and local financial experts have expressed concerns at the state of Papua New Guinea’s economy in the face of continued delays to a number of world-class resource projects. The mood has darkened further with the PNG Government’s decision to walk away from negotiations on the P’nyang development, a key piece the proposed expansion of the country’s LNG industry. There have also been delays in negotiations for the giant Wafi-Golpu

Politics

April 25, 2020 No Comments Colin Hay

Barrick says non-extension of Porgera SML a catastrophe for Landowners

PORGERA gold miner Barrick Niugini Limited (BNL), claims the PNG Government’s decision not to extend its Special Mining Lease was tantamount to nationalisation without due process and in violation of the government’s legal obligations to BNL. The company said it remained willing to discuss the issue with Prime Minister James Marape and his government in the hope of averting what it described as a catastrophic situation for the communities at

April 17, 2020 No Comments Colin Hay

Ok Tedi Mine vows to continue operating

OPERATIONS at the Ok Tedi mine will continue as long as it’s safe and economical to do so, says Ok Ted Mining Limited Managing Director and Chief Executive Officer Peter Graham. Mr Graham made these remarks after Papua New Guinea announced yesterday (Thursday 16th April) that it had five new COVID-19 cases, of which three were from border villages adjacent to the mine’s Bige dredging project in the Western Province.

Law & Order

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

November 25, 2019 No Comments Colin Hay

Warring tribes in Enga give up guns for bibles

TWO warring tribes, Pinai and Puikin in Enga Province have committed to peace and prosperity by symbolically surrendering guns in exchange for bibles after a decade of fighting. The ceremony was recently held in Kepakanda village in Kompiam District and was facilitated by the Salvation Army as part of its Restorative Justice programme. Through the programme, the Salvation Army has been working with the people from the two tribes for

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

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