Madang Pacific Marine Industrial Zone will expand fisheries, says Chamber president

According to Kevin Murray, the president of the Madang Chamber of Commerce and Industry, the Pacific Marine Industrial Zone (PMIZ) project will boost the province’s fisheries sector. Murray said that communities around Madang were supportive of the project as it would benefit the economy and create jobs. He added, “A number of canneries will be developed apart from RD Tuna, which is the main one in the province today.” The

TWM PNG Limited Granted The Highest Level Of Environment Permit That Can Be Issued Under The PNG Environment ACT 2000

TWM Group, a local SME business in the waste and environmental services sector operating in PNG, was recently presented with a Level 3 Environment Permit (EPL-485) by the Conservation and Environment Protection Authority (CEPA). This is the first of its kind to be issued to a Waste Management company in PNG and of this scale. L3 environment permits are applied where the greatest level of environment and social protection are

PNG celebrates National Day and sustainability achievements at Expo 2020 Dubai

At the recent Expo 2020 Dubai, Papua New Guinea celebrated its National Day and used the opportunity to highlight the importance of sustainability goals and having a positive impact on the environment. The National Days at the Expo allow each of the 200-plus attending nations to showcase their culture and achievements. For PNG’s turn, there was a display of traditional Papua New Guinean music, dancing, and ‘bilas’ decorations. The PNG

PNG Petroleum Minister Kua attends meeting with Sinopec

Karenga Kua, PNG’s Petroleum Minister, attended a virtual meeting with China’s Sinopec in Beijing recently. Minister Kua and Wapu Sonk, the Managing Director of Kumul Petroleum, met with the Senior Vice President of Sinopec to discuss various aspects of Papua New Guinea’s petroleum business. Among the topics discussed were Sinopec’s interest in additional long-term LNG contracts for the PNG LNG project. The Chinese petroleum giant was the first LNG customer

Crude prices directly influence import parity pricing

Hulala Tokome, the manager of Puma Energy PNG – Papua New Guinea’s largest fuel and energy provider – has claimed that crude price fluctuations directly influence the energy market’s import parity pricing. This is a pricing mechanism based on the opportunity cost of imported replacement products and is used to establish domestic sales prices. Mr Tokome said the fluctuating price of oil is being felt across the globe. He added

Fisheries Minister declares signing of Trade Protocol Agreement with China a success

Dr Lino Tom, Papua New Guinea’s Fisheries Minister, described the signing of the Trade Protocol Agreement with China as a success. The agreement relates to the export of Live Marine Products to the Chinese market, and the signing took place during the Fisheries Sector’s trip to China. The minister added that the trip to China, with Prime Minister James Marape, was also successful. Minister Tom said, “We successfully signed the

New Ireland Chamber says upgrading PNG ports will produce jobs

The Australian Government has granted Papua New Guinea AU$580 million to rebuild and upgrade its ports (roughly K1.48 billion). The State Enterprise Minister, William Duma, stated K66.4 million was already earmarked for Kavieng Port. The New Ireland Chamber of Commerce and Industry president, Nolis Thomas, said the initiative would create local jobs and boost New Ireland’s export earnings. Mr Thomas said, “Just by having the project here will provide employment

CRA deal will see K54 million handed out by Lihir Gold

FIFTY-four million kina in compensation and relocation benefits will be paid by Lihir Gold Mining Limited (LGL) directly to parties to the Compensation & Relocation Agreement (CRA) of the Lihir Mining Project every year beginning next year. This was revealed during the final week of the Compensation and Relocation Agreement (CRA) meeting last week on Lihir Island. The figure is projected to amount to K2 billion in the next 20

New Barrick president confirms continuing commitments on Porgera

ON his first visit to Papua New Guinea as the new president and CEO of Barrick Gold Corporation, Mark Bristow, said the global mining group is committed to strengthening the Company’s partnership with the government and local communities, which has enabled the Porgera gold mine to deliver substantial benefits to PNG for almost 30 years. During his four-day visit, Bristow met with Deputy Prime Minister Charles Abel and representatives of