According to the Porgera Chamber of Commerce and Industry, the multi-billion-kina Porgera gold mine needs to open soon. The head of the Chamber, Nickson Pakea, said the mine, which is in Enga, must reopen to promote economic activity and reduce criminality in the region. Pakea said, “The law and order issues in the district is partially due to the shutdown of the mine and those with access to guns taking
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
In a recent report by the Acting Governor of the Bank of Papua New Guinea (BPNG), Benny Popoitai, PNG is experiencing domestic inflation and increased import costs due to global price rises. Mr Popoitai noted that the war between Russia and Ukraine had put considerable pressure on the prices of food, fertilizer, and crude oil, as both countries were key producers of these products. The effects of the conflict were
Prime Minister Marape recently visited Bunsil Station on central Urumboi island in Morobe. While there, he stated that the remote regions of Papua New Guinea, such as Morobe’s Siassi islands, were no longer being neglected. Marape launched several impact projects for the Tewai-Siassi District Development Authority (DDA). He also provided K5 million to create a community facility at Bunsil for young people, women, Flexible Open Distance Education (FODE), and small
Prime Minister James Marape has said his government has raised vital infrastructure expenditure across Papua New Guinea. He made his comments while launching the Manus Special Economic Zone (SEZ) and opening the K101.9 million Momote International Airport. Marape said that the boost in spending would benefit all regions of the country. He added that other developments included K10 million being set aside to construct headquarters for the SEZ; the National
Kevin Gallagher, the managing director and chief executive officer of Santos, has highlighted his company’s portfolio of high-quality growth projects. He also talked about the current global energy situation and likely scenarios for the future. “We will be disciplined in taking further final investment decisions, ensuring that projects like Dorado, Pikka, Narrabri, Bayu-Undan CCS, Papua LNG, and others fit with our strategy and meet our commercial and economic hurdles. This
Discussions between Telikom PNG, Vodafone, and Digicel on the subject of sharing mobile towers are still ongoing. The chairman of Vodafone PNG, Kalpana Lal, said the company had initiated talks about the possibility of leasing towers and sharing with Telikom/BeMobile and Digicel, but no agreement had been reached. Consequently, Vodafone had built its own towers. “However, we remain open to further discussion if the incumbents in the market are amenable
The Investment Promotion Authority (IPA) has noted a significant increase in the number of businesses registering in Papua New Guinea over the last three years. According to Clarence Hoot, the managing director of the IPA, the rise in registrations began when the pandemic reached the country. Mr Hoot said, “We are slowly seeing registration of businesses, especially from international investors and international businessmen and women, we are coming back from
Kumul Petroleum Holdings Limited recently held a ground-breaking ceremony outside Port Moresby, near the LNG plant at Caution Bay. The event was for a new Steel, Mechanical, and Piping (SMP) module fabrication facility and also for a construction training academy. Wapu Sonk, the managing director of Kumul Petroleum, said his company was establishing a world-class SMP Module fabrication facility as part of preparations for the development of LNG and mining
According to statistics from the Independent Consumer and Competition Commission (ICCC), international shipping rates for containerised and general cargo have risen dramatically since 2020. This has had a noticeable effect on the price of domestic products. The sharp rise in prices for maritime freight was primarily caused by the Covid pandemic and trade imbalances. This consequently resulted in international container shortages. Paulus Ain, the commissioner and CEO of the ICCC,