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Interim Dividend Announced for payment in September

Ok Tedi Mining Limited (OTML) Chairman Sir Moi Avei KBE today announced that the Company has declared an interim dividend of PGK150 million to be paid in September 2021. Sir Moi noted that despite a fire incident at the mine’s processing facility late last year that impacted its January 2021 production, and a two-week suspension of operations in March 2021 due to COVID-19, the Company had benefitted from improved second

K92 achieves record annual and quarterly production at Kainantu

K92 Mining Inc.(TSX: KNT) has achieved record production in the fourth quarter (at its Kainantu Gold Mine in Papua New Guinea of 29,820 oz AuEq, or 28,809 ounces of gold, 493,584 pounds of copper and 10,395 ounces of silver. CEO, John Lewins, said annual production also achieved a record of 98,872 oz AuEq or 95,109 oz gold, 1,853,078 lbs copper and 36,067 oz silver, representing year-over-year AuEq production growth of

Frontier identifies significant gold extensions in PNG

Frontier Resources Limited has significantly extended known gold mineralisation through a sampling and mapping programme at the Kimono and Kimono South prospects near the Tolukuma Gold Mine in Papua New Guinea. A total of 102 soil, 102 rock chip (51 float and 51 outcrop) and 205 chip‐channel trench samples were collected. The geological mapping, rock sampling, ridge‐spur soil sampling and hand trenching was designed to: Test the continuity and strike

Frontier defines undiscovered Kimono Vein Systems through sampling and mapping

FRONTIER Resources Limited has identified indications for a number of undiscovered vein systems throughout the Kimono Central and Kimono South prospect areas in Papua New Guinea’s highlands. The recently completed Ridge and Spur soil sampling programme also discovered two historical drill holes into the Kimono Central veins which are currently being logged by geologists at the Saki camp. Frontier is planning for follow‐up sampling and drilling at the new prospect

National Anti-Corruption Plan approved

THE National Executive Council has recently endorsed the National Anti-Corruption Plan of Action 2020-2025. Prime Minister James Marape said Cabinet noted the contents of the submission and endorsed the National Anti-Corruption Action Plan and its Monitoring & Evaluation Framework. The Prime Minister said Cabinet has directed the Heads of Departments and Agencies named in the Plan to join the composition of the National Anti-Corruption Taskforce (NACTF) that will be co-chaired

NAC delivers De Havilland Dash 8-400 to Link PNG

NORDIC Aviation Capital (NAC) has delivered a De Havilland Dash 8-400, MSN 4184, to Link PNG on lease. The aircraft was originally scheduled to deliver in 2019, however, due to the impact of COVID-19 on travel restrictions the delivery was postponed. The improving conditions and easing of restrictions in Papua New Guinea have allowed for the delivery to take place. MSN 4184 is the final aircraft to deliver as part

New facilities a boost for Nuku

OVER 500 people in West Sepik Province will now have access to agriculture training and education services through two new multipurpose centres and a refurbished Local Level Government (LLG) chamber office. The facilities, which were supported by the Papua New Guinea-Australia Partnership, will help improve service delivery and provide economic opportunities for the people of Nuku. These facilities will be centres of training, with a focus on increasing women’s involvement

PNG PM confident of smooth road ahead for country’s LNG projects

PNG’s Prime Minister James Marape has declared that announced that the onshore P’nyang Project and the offshore Pasca condensate field developments “are definitely going ahead.” The PM also announced that he had paved the way for the US$20 billion, Total-operated Papua LNG Project with the passage of six important pieces of legislation by Parliament. Prime Minister Marape said discussions on P’nyang said following a meeting with Total on the Papua

Kina Securities acquires Westpac Pacific Businesses interests

Kina Securities Limited has entered into sale and purchase agreements to acquire 89.91% of the banking operations in Papua New Guinea and 100% of Fiji, known as the Pacific Businesses, of Westpac Banking Corporation. The company will outlay up to A$420 million / K1,036 million, including A$60 million payable in three A$20 million six monthly instalments after completion, and up to A$45 million of future earn-outs to be paid annually

ADB announces US$150 Million to support universal health care in PNG

THE Asian Development Bank (ADB) has approved a US$150 million loan to help Papua New Guinea  provide affordable, accessible, high-quality health services for all PNG citizens. The loan will fund the third and final subprogram of the ADB-supported Health Services Sector Development Programme. “Through ADB’s programme, national and health-specific reforms are expected to increase the availability of funds, and the effectiveness and efficiency of how resources are used,” said Principal