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

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.

𝗣𝗿𝗶𝗺𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗠𝗮𝗿𝗮𝗽𝗲 𝗢𝗽𝗲𝗻𝘀 𝗞𝗶𝘂𝗻𝗴𝗮 𝗔𝗶𝗿𝗽𝗼𝗿𝘁 𝗧𝗲𝗿𝗺𝗶𝗻𝗮𝗹, 𝗥𝗲𝗮𝗳𝗳𝗶𝗿𝗺𝘀 𝗖𝗼𝗺𝗺𝗶𝘁𝗺𝗲𝗻𝘁 𝘁𝗼 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲, 𝗖𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗮𝗻𝗱 𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗶𝗻 𝗪𝗲𝘀𝘁𝗲𝗿𝗻 𝗣𝗿𝗼𝘃𝗶𝗻𝗰𝗲 Read the full story here: https://lnkd.in/gqric3pB Prime Minister Hon. James Marape officially opened the newly redeveloped Kiunga Airport terminal in North Fly District of Western Province, marking a significant milestone in Papua New Guinea’s national infrastructure agenda and reaffirming the Government’s commitment to connecting remote communities through transformative public investments. The occasion marked the launch of a K70 million infrastructure upgrade under the Civil Aviation Development Investment Programme II (CADIP II)—a flagship initiative co- financed by the Asian Development Bank (ADB) and the Government of Papua New Guinea, implemented by the National Airports Corporation (NAC). This major project includes the construction of a new Type C terminal building, the strengthening and widening of the runway, apron and taxiway pavements, new aircraft parking pads and helipads, a new access road, and NAC staff housing, among other components. Once completed, the upgraded facilities will comply with International Civil Aviation Organisation (ICAO) standards and PNG Civil Aviation Rules, as administered by the Civil Aviation Safety Authority (CASA PNG). “This is not just an airport project. It is a bold signal that Western Province is not forgotten,” Prime Minister Marape stated. “Kiunga sits at the heart of what I call the ‘Midwest’ of Papua New Guinea—linking the Highlands, Southern, and Gulf regions. It is a growth centre in the making.” The event also featured the signing of a Memorandum of Agreement (MoA) between NAC, the Fly River Provincial Government, and contractor China Civil Engineering Construction Corporation (CCECC)—the firm awarded the contract in September 2024. Preliminary works commenced earlier this month, with full project delivery scheduled for completion within two years. CCECC has mobilised to Kiunga and is progressing with site preparation. Upon completion, the upgraded runway and taxiway pavements are expected to last five to ten years without major maintenance. The new terminal facilities will improve passenger and cargo processing and create employment opportunities for local residents.

𝗞𝘂𝗺𝘂𝗹 𝗣𝗲𝘁𝗿𝗼𝗹𝗲𝘂𝗺 𝗠𝗮𝗿𝗸𝘀 𝗞𝗲𝘆 𝗘𝘅𝗽𝗹𝗼𝗿𝗮𝘁𝗶𝗼𝗻 𝗠𝗶𝗹𝗲𝘀𝘁𝗼𝗻𝗲 𝘄𝗶𝘁𝗵 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗶𝗼𝗻 𝗼𝗳 𝗦𝗲𝗶𝘀𝗺𝗶𝗰 𝗣𝗿𝗼𝗴𝗿𝗮𝗺 Read the full story here: https://lnkd.in/dPAMBwqR KPHL Managing Director Wapu Sonk confirmed the milestone, stating: “On Wednesday, 26th March, we completed the final shot point on a seismic line within the Kimu licence, and demobilisation of the seismic crew has commenced. This marks the successful conclusion of our seismic acquisition program across both PRLs.” The objective of the seismic survey was twofold: firstly, to acquire additional geological data aimed at better defining the extent of known hydrocarbon accumulations, with the goal of increasing the certified volumes of recoverable oil and gas; and secondly, to identify optimal locations for potential delineation and exploration wells. “This campaign represents the first upstream exploration work undertaken by Kumul Petroleum since our establishment in 2010,” Mr Sonk added. “It is a significant step forward for the company, and we are optimistic about the insights the data will provide as we move into the next phase of resource development.” The six-month seismic campaign, carried out by contractor Oilmin Field Services Holdings, involved the acquisition of six seismic lines and provided employment for 477 local workers from remote areas in the Gulf and Western Provinces. The nature of seismic line cutting — being highly labour-intensive — provided substantial short-term economic benefits to the local communities. Mr Sonk emphasised that strong community engagement was a cornerstone of the program’s success. “Kumul Petroleum and OilMin worked collaboratively with landowners and community leaders. Although our presence in each area was temporary, we made it a priority to contribute positively — including providing support to primary schools in Kaiam and Kumusi.” He also praised the outstanding safety performance during operations, attributing it to the combined experience of OilMin and KPHL’s project teams. “Kumul Petroleum is making significant investments in both offshore and onshore petroleum retention licences to delineate hydrocarbon resources and shape development concepts that are technically and economically viable,” Mr Sonk said.

𝗧𝗿𝗮𝗻𝘀 𝗡𝗶𝘂𝗴𝗶𝗻𝗶 𝗧𝗼𝘂𝗿𝘀 𝗥𝗲𝘃𝗲𝗮𝗹𝗶𝗻𝗴 𝘁𝗵𝗲 𝗪𝗼𝗻𝗱𝗲𝗿𝘀 𝗼𝗳 𝗣𝗡𝗚 Read the full story here: https://lnkd.in/dHCU8tr4 You will never know the adventure, beauty and unique experience PNG truly has until you, travel with confidence, with Trans Nuigini Tours. As Papua New Guinea’s leading inbound tour operator, Trans Niugini Tours has been offering world-class travel experiences for over 38 years. With a reputation for excellence, the company not only manages award-winning wilderness lodges but also operates its own fleet of aircraft, vehicles, and boats, ensuring an unmatched standard of service and safety for travelers. A trip with Trans Niugini Tours is like a journey through culture and nature. Trans Niugini Tours provides unique opportunities for adventure seekers, cultural enthusiasts, and nature lovers to explore the stunning landscapes and vibrant traditions of PNG, known as the land of the unexpected. From the Sepik River cruises to immersive experiences in the PNG Highlands, the company curates exceptional itineraries designed to showcase the country’s rich heritage. Trans Niugini Tours proudly organizes and facilitates visits to some of Papua New Guinea’s most spectacular cultural events. Among the 2025 festival highlights are: - Tumbuna Festival: The Tumbuna Sing-sing is a celebration of culture and tradition - celebrating 'pasin bilong Tumbuna,' the way of the ancestors. - Wahgi Festival: A celebration of tribal customs and artistic expressions in the PNG Highlands. - Melpa Festival Tour: A 12-day, 11-night guided experience across three diverse locations in the country. - Mount Hagen Cultural Show: A vibrant showcase of Papua New Guinea’s various tribes, featuring traditional attire, dance, and song. - Goroka Cultural Show: One of PNG’s most famous events, held annually in September, where indigenous groups present their customs in a grand spectacle. - Kalam Festival: A rare chance to participate in the cultural ceremonies of the Simbai Valley’s highland tribes. These festivals offer travelers an unparalleled chance to engage with PNG’s indigenous communities, witness elaborate cultural displays, and gain deeper insights into the country’s diverse traditions.

𝗣𝗮𝗽𝘂𝗮 𝗡𝗲𝘄 𝗚𝘂𝗶𝗻𝗲𝗮’𝘀 𝗡𝗥𝗟 𝗽𝘂𝘀𝗵 𝘁𝗼 𝗯𝗼𝗹𝘀𝘁𝗲𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗴𝗿𝗼𝘄𝘁𝗵. Read the full story here: https://lnkd.in/g49FRdVX Rugby League is a national obsession in Papua New Guinea and the award of a team franchise to compete in Australia’s NRL from 2028 will come as a major economic boost for the country, as well as helping to deepen its ties with Australia, says Westpac Senior Economist Justin Smirk, fresh off the back of his visit to PNG. The Hunters NRL team was a major topic of conversation among delegates at the CEO100 business summit in the capital Port Moresby in March, contributing to a broader sense of optimism towards the PNG economy. Strong commodities prices underpinned robust GDP growth of 4.3 per cent in 2024 and we see the momentum continuing into 2025, forecasting a further pick up to 4.7 per cent. That PNG was able to achieve this in the face of some meaningful headwinds is remarkable. As outlined in the latest Westpac Business Advantage PNG CEO100 Survey, these headwinds include a significant lack of foreign exchange, security law and order issues, unreliable utilities, a lack of government capacity, regulatory uncertainty, and a shortage of skills and expertise. The restart of the Porgera gold mine in late 2023, after being shuttered since 2020 over a dispute between the government and operator Barrick Gold, has been timely with bullion prices surging more than 30 per cent in the past twelve months. PNG has also enjoyed strong export earnings from its coffee and cocoa production after weather-related disruptions in other key growing areas round the world led to a spike up in prices. We expect other parts of the economy such as services and domestic industries to make more of a contribution in the year ahead, while the outlook also looks more promising for PNG’s other key resources exports: liquefied natural gas and nickel. While growth is chugging along nicely, inflation is high in PNG and remains a risk to the outlook. The central bank increased interest rates by a full percentage point to 4 per cent back in September to keep a lid on price pressures, and we can’t rule out further policy tightening. Like every other trade-reliant nation, PNG is also vulnerable to the potential impact on the global economy from President Trump’s protectionist policy agenda. PNG is unlikely to see much direct impact from Trump’s trade tariffs due to its minimal trade exposure to the U.S., but we remain vigilant about their effects on some of PNG’s key trading partners.