PNG Business News

Issue 1, 2025 IS OUT NOW!! Read it here: https://lnkd.in/giDNMsRH The year 2025 is shaping up to be another big one for Papua New Guinea, and we at PNG Business News will always strive to keep up with the latest developments in the country. First off is a look at our cover feature, the Paga Hill Development Company (PNG) Ltd (PHDC) Special Economic Zone (SEZ), which starts on page 24. The multi-billion-kina project has positioned itself as PNG’s flagship SEZ, driving investment, job creation, and economic diversification, and safe to say everybody has high hopes for this venture. Next is a rosier economic outlook for PNG on the back of strong growth despite inflationary challenges and a surge in the trade surplus, which our reporter Roselyn Erehe writes about on page 30. The National Statistical Office revised PNG’s 2023 GDP growth from 3.0% to 3.8%, reflecting stronger-than-expected performance in crude oil and natural gas production, leading to an upward adjustment in 2024 GDP growth to 4.3% from the previous estimate of 3.7%. Then, PNG is all geared up to join the Osaka World Expo, set to commence on April 13 in Japan and continue for six months. This will offer PNG a platform to display its rich cultural diversity to a global audience, and provide a platform for PNG to engage Japanese businesses and attract investment in key sectors such as technology, energy, and agriculture. Read about this on page 48. Finally, we have our stalwart commentator Michael McWalter, who discusses "Oil and Gas in an Uncertain Energy Future" starting on page 10. He deftly weaves the big picture in the petroleum industry from past to present and PNG's place in it, and advises how the country can get the most out of the current trends in the industry. This and more of the updates in the mining, oil and gas, and related industries are here in the 144 pages of your PNG Business News - grab a FREE copy at your nearest resources event or visit us online at pngbusinessnews.com TODAY! Thank you to our advertising partners: Westpac PNG, Westpac, Moni Plus, Quest Exploration Drilling (PNG) Limited, CreditBank PNG, Swire Shipping, Bishop Brothers Engineering Ltd, NGIP AGMARK LTD., PNG Forest Products Limited, Atlas Steel - PNG, International SOS, Consort Express Lines Limited, Remington Technology, Datec PNG Limited , Datec PNG Limited , EastWest Transport, Ela Motors PNG, Port Moresby Electrical - PME, Express Freight Management, EagleXP, nasfund, PNG CR Service Company, PEUNA PNG, Institute of Banking & Business Management, PNG Institute of Banking and Business Management , Steamships Limited, Trans Niugini Tours, PNG Motors, Cypro Australia, Coral Coast Migration Service, National Institute of Standards & Industrial Technology (NISIT), NCI Packaging, Niugini Assurance Group Limited, NiuPower Limited, Ok Tedi Mining Limited, Mapai Transport & Logistics and Islands Petroleum

𝗪𝗲𝘀𝘁𝗽𝗮𝗰 𝗔𝗽𝗽𝗼𝗶𝗻𝘁𝘀 𝗔𝗻𝗱𝗿𝗲𝘄 𝗖𝗮𝗶𝗿𝗻𝘀 𝗮𝘀 𝗖𝗵𝗶𝗲𝗳 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗳𝗼𝗿 𝗣𝗡𝗚 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 Read the full story here: https://lnkd.in/dqe9MZUZ Westpac PNG is pleased to announce the appointment of Andrew Cairns as its new Chief Executive for Papua New Guinea, effective immediately. Andrew brings extensive leadership experience across banking, social finance, telecommunications, and corporate social responsibility. Having worked in Australia, the South Pacific, Asia, and the USA, he has a proven track record of driving business growth, operational excellence, and innovation. His expertise will be instrumental in strengthening Westpac’s role as a trusted financial partner in PNG. Welcoming Andrew to the role, Westpac Pacific Managing Director Emma Low said, "I’m delighted to officially welcome Andrew Cairns as Chief Executive of Westpac PNG. Andrew is a seasoned Chief Executive with 20 years’ experience leading growth, innovation and operational optimisation with a strong focus on developing people. “His experience in leading transformation and driving sustainable growth aligns with our commitment to delivering innovative banking solutions and enhancing financial inclusion. Under his leadership, we will continue to strengthen customer relationships, expand digital banking services, and support economic growth across the communities we serve." Andrew steps into the role at a crucial time, as Westpac focuses on accessibility, digital innovation, and customer-centric solutions in PNG. His leadership will ensure the bank remains agile in responding to market dynamics while reinforcing its commitment to financial empowerment and responsible banking. Reflecting on Westpac’s deep history and connection with PNG, Andrew describes joining the team as an enormous privilege. He emphasised, “While banking is Westpac’s business; it does not define who we are. Our most important role is to feed into the prosperity of our customers, helping them realise their aspirations and build better futures for themselves, their families, their communities and their businesses”.

𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗠𝗮𝗿𝘂 𝗗𝗶𝘀𝗰𝗵𝗮𝗿𝗴𝗲𝘀 𝗣𝗡𝗚 𝗧𝗲𝗮𝗺 𝘁𝗼 𝘁𝗵𝗲 𝗢𝘀𝗮𝗸𝗮 𝗪𝗼𝗿𝗹𝗱 𝗘𝘅𝗽𝗼 𝟮𝟬𝟮𝟱 Read the full story here: https://lnkd.in/gM_cDbXJ Papua New Guinea Ministry of International Trade and Investment The Minister for International Trade and Investment, Hon. Richard Maru, officially discharged the Papua New Guinea (PNG) team to the World Expo 2025 in Osaka, Japan which will be held from April 13 to October 13, 2025. “The Commissioner General of Section PNG, Ambassador Gabriel Dusava and his core team will depart this weekend, and in the coming weeks, officers from key agencies such as the Investment Promotion Authority (IPA) and the Tourism Promotion Authority (TPA) will also join them. These teams will work tirelessly and with desperate hopes to ensure PNG’s successful participation throughout the six-month duration of the Expo. The Expo Team in Osaka will operate under clear policy goals and objectives set out by respective government agencies and stakeholders. Their work will focus on ensuring PNG’s maximum visibility and impact on a global scale,” said Minister Maru. “For the past eight months, the Expo Secretariat has done everything possible to prepare the country for this participation. The next phase is now in the hands of our key stakeholders—the private sector, Government Departments, and provincial administrations—who must continue to prepare themselves and work closely with the Section PNG Desk Officer at the National Trade Office to facilitate their involvement in Expo-related conferences and business events.” Minister Maru announced that three provinces- Central Province, Western Highlands Province and East New Britain Province will participate, both at the Osaka Expo and at the PNG-Japan Trade and Investment Conference that will be held in Tokyo in July. “We had the privilege and honor to welcome the Governor of Central Province, Hon. Rufina Peter yesterday in our stakeholders’ wrap up meeting and hear her make a passionate presentation of specific areas her province would like to pursue and come up with collaborative arrangements with Japan. She spoke of province-to-province sister arrangements with an appropriate prefecture of Japan, established dialogue with a prefecture that is strong in cooperatives, as well as developing live streaming of Central Provincial Cultural Events during the Expo period and beyond.” “Meanwhile, the Western Highlands Province and the SME Corporation would like to go into sweet potato (kaukau) downstream processing and promote the historical Baiyer River Agricultural Belt, including bird watching, and East New Britain Province would like to promote its tourism potential by live streaming some of its festivals such as the Tolai Warwagira festival, leveraging on its historical war connections with Japan.”

𝗖𝗲𝗻𝘁𝗿𝗮𝗹 𝗟𝗶𝗺𝗲 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗖𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗨𝗽𝗱𝗮𝘁𝗲 Read the full story here: https://lnkd.in/giAdewDu Mayur Resources (ASX:MRL) Limited is pleased to provide an update on the construction progress at the Central Lime Project (CLP), located in Papua New Guinea. Development activities continue, with significant milestones achieved in wharf construction, site preparation, and early infrastructure works. The Company continues to de-risk the Project through strategic Engineering, Procurement, and Construction (EPC) contract negotiations, reinforcing cost certainty ahead of major construction activities. Highlights: - Wharf Stage 2 – Sheet piling installation complete at Roll-On/Roll-Off (Ro/Ro) ramp; finger wharf with forecast completion in early Q2 2025. - Wharf Stage 3 – Operability study finalised; concept design completion targeted for early Q2 2025. - Early Works – Construction is underway for a fuel storage area, site accesses, and community infrastructure. - Civil Design Complete – Bulk earthworks scheduled to commence following Final Investment Decision (FID). - Service Road – 27.6km design concept finalised; bridge abutment geotechnical investigations planned for Q2 2025. Wharf Construction Progressing as Planned Stage Two of wharf construction is underway, and all sheet pile materials have been delivered to site. Installation of the Ro/Ro ramp and the finger wharf is progressing well and is forecast to be completed early Quarter 2 2025. Following the Wharf Stage 3 operability study, the concept design phase is progressing as planned, with finalisation expected this month. This marks another key milestone in establishing a multi-purpose bulk and containerised cargo wharf ensuring its long-term capacity. Early Works and Site Preparation Continue Early construction activities continue across multiple infrastructure areas, including: - Development of the fuel storage facility; - Upgrades to internal site access routes; and - Relocation of the community recreational facilities. With site civil design works now complete, the Project is positioned to commence bulk earthworks immediately following FID.

𝗕𝟰𝗛 𝗥𝘂𝗻𝘀 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝘃𝗲 𝗦𝗲𝘀𝘀𝗶𝗼𝗻 𝗼𝗻 𝗧𝗕 𝗳𝗼𝗿 𝗖𝗿𝗶𝗰𝗸𝗲𝘁 𝗣𝗡𝗚 Read the full story here: https://lnkd.in/gcCXPcVy In recognition of World Tuberculosis (TB) Day, Businesses for Health Papua New Guinea (B4H) visited Cricket Papua New Guinea (CPNG) for an informative, interactive session and fielded lots of questions dedicated to the National Men’s and Women’s Cricket Teams and the Cricket PNG Staff. In a different kind of training session for the Baramundis, Lewas and Siales, B4H aimed to empower the country’s sporting heroes as role models in the fight against TB, a disease that disproportionately affects young, working-age individuals in PNG. “Despite their elite status, our athletes are not immune to TB,” said Margaret Sibona, Cricket PNG’s Senior Manager for Special Projects. During the session many players acknowledged losses of family, friends and players to the disease. “The rates of TB in the big villages are so high. Our players can play a part in raising awareness about TB, HIV and childhood vaccinations,” Sibona said. “Our focus is on the importance of early TB case finding, and the need to change societal mindsets regarding coughs and respiratory health. With TB rates remaining alarmingly high in the NCD (National Capital District), even the healthiest among us can be affected,” said Teresa Koratsi TB HEO with B4H. Dr Ann Clarke, director of Businesses for Health PNG, said: “On this World TB Day, we are so pleased to take a step towards ending TB by equipping our sporting icons with the knowledge they need to lead and support early case finding.” “By encouraging everyone to check every cough for TB, we can work together towards a healthier sports community and a healthier PNG.”

𝗣𝗡𝗚 𝗖𝗥 𝗗𝗲𝗹𝗶𝘃𝗲𝗿𝘀 𝗜𝗻𝗳𝗿𝗮 𝗳𝗼𝗿 𝗣𝗮𝗰𝗶𝗳𝗶𝗰’𝘀 𝗙𝗶𝗿𝘀𝘁 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗖𝗲𝗻𝘁𝗿𝗲 𝗼𝗳 𝗘𝘅𝗰𝗲𝗹𝗹𝗲𝗻𝗰𝗲 Read the full story here: https://lnkd.in/g2cqs9Kv Papua New Guinea PNG CR Service Company has successfully completed the construction of the dormitories and mess hall supporting the first Regional Centre of Excellence (RCOE) under the Pacific Policing Initiative (PPI). The facility was officially opened on March 21 in Port Moresby by Royal Papua New Guinea Constabulary (RPNGC) Deputy Commissioner Dr. Philip Mitna and Australian Federal Police (AFP) Assistant Commissioner Nigel Ryan. Located in Bomana, the state-of-the-art RCOE is the first of four centers to be established across the Pacific to enhance policing capabilities through targeted training and development. The completion of this landmark project underscores PNG CR’s commitment to excellence in construction and infrastructure development, as it delivered the project to fruition within ambitious timeframes. The firm’s dedication “to quality, efficiency, and innovation ensured the timely completion of the RCOE, fully aligned with the stakeholders' objectives and the region’s security goals,” the PPI said. The Australian Federal Police and Australian High Commission (AHC) provided crucial support throughout the initiative. PNG CR’s CEO, Allen Tyson, expressed gratitude for the continued partnership, thanking the AFP and AHC for their trust. During the opening ceremony, Deputy Commissioner Dr. Philip Mitna emphasized the importance of the RCOE in strengthening regional security cooperation. He said: "The police-to-police collaboration between PNG and Australia has never been stronger. This RCOE marks a significant milestone that will equip our officers with the necessary skills to address emerging security challenges."

𝗡𝗼𝗺𝗶𝗻𝗮𝘁𝗶𝗼𝗻𝘀 𝗢𝗽𝗲𝗻 𝗳𝗼𝗿 𝘁𝗵𝗲 𝟮𝟬𝟮𝟱 𝗪𝗲𝘀𝘁𝗽𝗮𝗰 𝗢𝘂𝘁𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗪𝗼𝗺𝗲𝗻 𝗔𝘄𝗮𝗿𝗱𝘀 Read the full story here: https://lnkd.in/g6k_M7Rr Nominations are now open for the prestigious Westpac Outstanding Women (WOW) Awards, Papua New Guinea’s leading platform for celebrating the remarkable contributions of women across various sectors. Returning after five years, the WOW Awards continue to honour women who are leading change in business, leadership, sustainability, and the creative industries. Westpac Pacific Managing Director Emma Low called on individuals, businesses and communities to submit nominations for exceptional women leaders. “The WOW Awards provide a platform to celebrate and elevate the voices of women who are driving change across Papua New Guinea. Whether they are leading businesses, championing sustainability or making strides in sports and the arts, these women deserve recognition. We encourage everyone to take this time to nominate an inspiring woman today”, said Ms. Low. Award Categories & Criteria Nominations are open in the following categories: • Private Sector Award – Awarded to a woman demonstrating strong leadership and influence in the corporate or business sector. • Public Sector Award – Recognising a woman excelling in leadership within government or public administration. • Young Achiever Award – Recognising an inspiring young woman (aged 18-35) excelling in her career or community. • Entrepreneur Award – Celebrating a female entrepreneur who has built a successful business that contributes to economic growth. • Sustainability Award – Honouring a woman making a significant impact in environmental sustainability, conservation, or community development. • Not-for-Profit Award – Recognising a leader in the NGO or non-profit sector driving meaningful change. • Sports & Arts Advocate Award – Celebrating a woman who has made significant contributions in sports, arts, or cultural advocacy. The overall winner gets the Westpac Outstanding Woman of the Year, which is the highest honour, awarded to a woman who has demonstrated exceptional leadership and impact in her field. Each nomination will be assessed based on leadership, impact, innovation, and contributions to advancing women’s roles in PNG.

𝗣𝗿𝗶𝗺𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗠𝗮𝗿𝗮𝗽𝗲 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝘀 𝗢𝗸 𝗧𝗲𝗱𝗶 𝗠𝗶𝗻𝗲 𝗥𝗲𝘃𝗶𝗲𝘄, 𝗘𝗺𝗽𝗵𝗮𝘀𝗶𝘀𝗲𝘀 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗙𝘂𝘁𝘂𝗿𝗲 𝗳𝗼𝗿 𝗪𝗲𝘀𝘁𝗲𝗿𝗻 𝗣𝗿𝗼𝘃𝗶𝗻𝗰𝗲 Read the full story here: https://lnkd.in/g_twEQ8c Prime Minister Hon.James Marape has announced that a comprehensive review of the Ok Tedi Mining Limited operations will be conducted before June 2025, reaffirming his government’s commitment to ensuring fair and sustainable benefits for the people of Western Province. Speaking at the launch of the Kiunga Airport terminal redevelopment, Prime Minister Marape said the people of Western Province—particularly those living in impacted communities—deserve a greater voice in how mining benefits are shared and invested. “You are entitled to a mine review. The Mining Minister and his team will assemble a team to begin this process, and your community has every right to present your case,” Prime Minister Marape told local leaders and residents. Prime Minister Marape stressed that the goal of the review is not to stop mining operations, but to ensure that the dividends and revenues generated are managed wisely and transparently. “We must not kill the golden goose. The dividends from Ok Tedi must be used to sustain development—some for investment, and some for essential services and infrastructure,” he said. He reminded stakeholders that Ok Tedi is one of Papua New Guinea’s most valuable national assets, and its long-term value lies not only in what is extracted from the ground, but in how those proceeds are used to build lasting institutions, infrastructure, and livelihoods. Prime Minister Marape noted that the review will include consultation with all relevant parties—including landowners, provincial authorities, local-level governments, and national stakeholders—to ensure transparency and collective decision-making. “Our people must benefit not only today but long after the mine closes. That means planning now—investing in roads, schools, hospitals, and economic alternatives.” He reiterated that development should not stop with mining, and that Western Province must prepare for a post-mining economy. He highlighted that resource projects must be catalysts for long-term community resilience, not short-term wealth. Prime Minister Marape also pointed out that since 2019, his government has transferred more than K5.6 billion to districts across the country, including millions of kina to North Fly, Middle Fly, and South Fly districts. He called on local leaders to account for how these funds are being used and urged communities to engage constructively in the upcoming mine review process.

𝗣𝗡𝗚 𝗖𝗢𝗥𝗘 𝗗𝗘𝗧𝗔𝗜𝗟𝗦 𝗜𝗡𝗗𝗨𝗦𝗧𝗥𝗬 𝗖𝗟𝗜𝗠𝗔𝗧𝗘 𝗖𝗛𝗔𝗡𝗚𝗘 𝗣𝗢𝗟𝗜𝗖𝗬 Read the full story here: https://lnkd.in/dcbz6S8A The PNG Chamber of Resources & Energy (PNG CORE) provides further details on its Climate Change Policy initiative to address the challenges and opportunities of climate change in Papua New Guinea (PNG). This policy aligns with the International Standard for Sustainable Development and emphasises PNG CORE’s commitment to collaboration and sustainability, as well as its strategic priorities. The vision of PNG CORE is to guide Papua New Guinea’s resources and energy sectors in managing climate change through cooperation and innovative solutions. PNG CORE aims to support policies and actions in line with the Paris Agreement to mitigate climate change impacts and promote sustainable development. Additionally, the Chamber seeks to enhance climate resilience through knowledge sharing, capacity building, and technology transfer. PNG CORE Sustainability and Climate Change Committee Chair Felix Kipalan states, “PNG CORE encourages responsible practices to reduce greenhouse gas emissions and protect biodiversity. Engaging stakeholders in dialogue to promote climate-smart investments and initiatives is also a key focus. Furthermore, we are dedicated to helping communities, especially those dependent on the resources and energy sectors, adapt to climate change and build resilience.”

𝗚𝗿𝗲𝗲𝗻 𝗛𝗶𝗹𝗹𝘀 𝗔𝗰𝗰𝗼𝗺𝗺𝗼𝗱𝗮𝘁𝗶𝗼𝗻 𝗩𝗶𝗹𝗹𝗮𝗴𝗲 𝗢𝗳𝗳𝗲𝗿𝘀 𝗖𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝘁 𝗮𝗻𝗱 𝗥𝗲𝗹𝗶𝗮𝗯𝗹𝗲 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 Read the full story here: https://lnkd.in/guiXxgGy Green Hills Accommodation Village is your ideal destination, located just 5 minutes from Motukea Wharf and 8 minutes from the Port Moresby CBD. Designed to cater to business travelers, corporate groups and individuals, Green Hills offers an all-inclusive stay with no extra charges for daily meals and laundry, plus a full range of services, all in one convenient location. Why do Corporates and groups choose Green Hills? Due to its convenient location close to two main business hubs and its all-inclusive rates, many corporates - such as Santos, Consort and P&O Shipping – as well as large groups and sporting teams, rely on Green Hills to accommodate their staff for short and long-term stays – from juniors through to Executives. Bookings and packages can be tailored to suit, with hassle-free bookings for additions such as Airport transfers, use of a meeting or conference room, and catering. Our clients keep coming back as Green Hills offers affordable accommodation that is comfortable and secure, and reliable. Who is behind the Green Hills operations? Green Hills Accommodation Village now operates under the banner of ‘Green Hills Hospitality Services Limited’ - a strategic joint venture between two well-known and reputable businesses: Peuna and PNG CR Services. Peuna brings a wealth of experience in facility management and catering services, while PNGCR brings to the table facility ownership and construction and maintenance capability. This partnership ensures high-quality service, top-tier security, and international hospitality standards for all guests. Green Hills Accommodation ticks the boxes of affordable, comfortable and fully serviced accommodation.