Just when the country is looking forward to celebrating 50 years of Independence, our great nation of Papua New Guinea is hit with the passing of the last man standing, the Right Hon. Sir Julius Sungmen Chan GCL GCMG KBE PC. At the age of 85, the late Sir Julius peacefully passed away today at 12:30pm at his home at Manmantinut, Huris in New Ireland Province. Born on August 29th, 1939, on the Tanga Islands North-East of New Ireland, Sir Julius first became actively involved in politics in the 1960s. He was elected to represent the Namatanai district of New Ireland province in the pre-independence House of Assembly in 1968 and was re-elected in 1792, 1977, 1982, 1987 and 1992. Sir Julius first became Prime Minister on 11th March 1980, succeeding the country’s first Prime Minister and Founding Father the Late Sir Michael Somare He served as PM from 1980 to 1982 and from 1994 to 1997. He was Knighted as a Knight Commander of Order of the British Empire (KBE) in 1981. As a political icon, his legacy will remain forever in the pages of our history books and more so in the hearts of so many. The late Sir Julius is survived by his wife Lady Stella Chan and children Vanessa, Byron, Mark and Toea.

Prime Minister James Marape when meeting U.S Ambassador to Papua New Guinea Her Excellency Ann Marie Yastishock on Tuesday to discuss topics to strengthen bilateral relations between PNG and the U.S, also discussed economic development and the importance of increasing U.S investment in PNG. Ambassador Yastishock acknowledged the untapped potential PNG’s economy and committed to working with American businesses to explore investment opportunities. “There is a significant amount of investment potential here, and we aim to encourage U.S companies to explore these opportunities in collaboration with the PNG government,” she said. PM Marape underscored the importance of sustainable economic partnerships, stating, “We welcome more U.S investments in key sectors such as energy, infrastructure and technology. PNG is open for business, and we are committed to creating an environment that attracts international investors. Recognizing PNG’s unique geopolitical position as a bridge between the Pacific and Southeast Asia, the leaders discussed PNG’s aspirations to join ASEAN as a full member. “Papua New Guinea’s geographic and strategic positioning makes it a natural link between Asia and the Pacific. We look forward to strengthening our role in regional organizations to promote collaboration and shared prosperity,” Mr. Marape said. Ambassador Yastishock highlighted U.S efforts to assist PNG in addressing human trafficking and improving its standing in the U.S State Department’s Trafficking Persons (TIP) Report. She expressed gratitude for PNG’s collaboration in providing critical data to improve its ranking. “We are committed to working together to address human trafficking and other critical human rights issues,” she said. As PNG and the United States prepare to celebrate 50 years of diplomatic relations, Ambassador Yastishock extended an invitation from Washington for PM Marape to participate in commemorative events. She noted that senior U.S officials are likely to visit PNG during this milestone year, further underscoring the importance of the partnership.

The Nasfund Contributors Savings and Loan Society (NCSL) is currently updating its members' contributions and should be completed by 8th of February. NCSL Chief Executive Officer (CEO) Frans Kootte said that with interest payments for members, like every year, a part of their profit will be shared with their members who mutually own NCSL. Mr. Kootte stated that the level of this extra interest which they will pay to the savings accounts will be announced after the presentation of the annual report, which is usually in the month of March. He added that this will be made known to the media. “We have implemented the following since November of 2024 and that is: • Increased staff numbers • Extended working hours including weekends, nights and public holidays • Closely liaising with a team of experts from our new system vendor Most member contributions received from employers have already been updated. We still have a few more member accounts to be updated. All new contributions we are receiving are processed automatically. Additionally, we are continuously conducting online and onsite training for the registered partner employers to successfully upload contribution schedules and payment for their employees to NCSL. To guide them in the process, relevant print and videos resources are being supplied,” Mr. Kootte explained. He added that updating of members’ contributions are based on monthly and fortnightly frequency from schedule listings and payment advice received from their registered employers. “Employers who have not yet submitted the schedules and payment advice for the months of November and December 2024 are encouraged to send them to banking@ncsl.com.pg ,” Mr. Kootte said.

Prime Minister (PM) James Marape on Tuesday 28, January 2025 met with U.S Ambassador to Papua New Guinea Her Excellency Ann Marie Yastishock to strengthen bilateral relations. The meeting was for a comprehensive discussion aimed at reinforcing the growing partnership between Papua New Guinea and the United States. The meeting highlighted critical areas of cooperation, including security, environmental policy, economic growth and regional stability. PM Marape and Ambassador Yastishock reaffirmed their mutual commitment to strengthening diplomatic ties as both countries prepare to celebrate 50 years of bilateral relations this year. The Prime Minister remarked, “The United States has been a longstanding friend to PNG. Our partnership has spanned decades and has proven crucial in areas such as defence, development and climate action.” The leaders also reflected on the U.S-PNG Defence Cooperation Agreement (DCA), signed in 2023. Ambassador Yastishock assured PM Marape that the agreement enjoys strong bipartisan support in Washington and will remain a cornerstone of the U.S-PNG relationship. “We have communicated the importance of the DCA to Washington, and we expect the partnership to grow stronger in the years ahead,” she added. PM Marape expressed his gratitude for the DCA and its role in ensuring regional security. “This agreement is not just about defence, it is about strengthening PNG’s role as a key strategic partner in the Indo-Pacific,” he said. The leaders discussed plans for future high-level military exchanges and joint exercises aimed at enhancing regional stability and resilience. The leaders also touched on environmental issues, particularly PNG’s commitment to conservation and global climate goals. While addressing the U.S withdrawal from the Paris Agreement, Ambassador Yastishock emphasized that climate action remains a priority for the U.S Government. “The United States remains committed to balancing climate action, energy security and economic prosperity. We look forward to finding practical ways to work together to achieve these shared goals,” Ambassador Yastishock said.

BSP Financial Group Limited has announced its new executive appointments that are expected to be effective in the first quarter of 2025, subject to regulatory approval. Mr. Ben Wavell-Smith has been appointed Group Chief Risk Officer (he succeeds Mr. Mike Hallinan who retires after a long career with BSP), Mr. Jonathan Harvey has been appointed Group Executive, People & Culture, Mr. Peter Komon has been appointed Head of Retail Branch Operations and Ms. Esther Usurup-Harou has been appointed to the newly created role of Head of People and Culture PNG. BSP Group Chief Executive Officer Mark T. Robinson said “Ben, Jonathan and Esther are deeply experienced professionals and fantastic additions to BSP’s senior team. Mr. Robinson said the expertise and experience they bring will be key as BSP invest in their Risk and People & Culture capabilities. “I extend my appreciation to Peter and Mike for their contributions. Peter is a senior Retail Bank executive who stepped in to lead our People & Culture function in August last year and Mike has played an important role in BSP’s success during his 15 years with us,” he added. ● Ben Wavell-Smith brings over 30 years of international banking experience from ANZ Banking Group, where he held senior roles in Business, Risk, and Compliance. He most recently led the Wholesale Credit Policy, Financial Risk Governance, and Strategic Enablement function. ● Jonathan Harvey has over 30 years of international experience as an adviser to Boards and Chief Executives on leadership and culture and as a senior Human Resources executive with Barclays Bank and ANZ Banking Group. ● Peter Komon joined BSP in 2012 and has held various senior leadership roles within BSP, including leading Rural Banking, Branch Network, Payments and more recently People & Culture. ● Esther Usurup-Harou joins BSP from her current role as Deputy Chief Secretary Operations for the Autonomous Bougainville Government and brings more than 25 years of experience in Human Resources, including senior executive roles with TotalEnergies EPG PNG Ltd and Origin Energy PNG.

The Abau District Development Authority (DDA) has presented K1 million to the Women’s Micro Bank (Mama Bank) to support the district development through Micro Small Medium Enterprise (MSME) Credit Guarantee Scheme. Mama Bank Chief Executive Officer Mr. Gunanidhi Das stated that Mama Bank signed the MoA with Abau District Development Authority some months ago and now they will make it happen by receiving the funding of K1million from the district. Mr. Das said the agreement that was signed is a credit guarantee scheme which is basically the support given by the district development authority to go towards supporting MSMEs and SMEs in the formal SME sector in the district. “These will flourish the economic activities in the district and with that the cheque presentation today will start the journey of the MSME Credit Guarantee scheme. In the credit guarantee scheme we are looking at a minimum of K500 loan to K50,000 loan so the little formal MSME and SME can benefit. "The process includes looking at the MSMEs and SMEs to see if they are informal and formal and how best they can meet the loan requirements,” Mr. Das said. He emphasized that any of these MSMEs and SMEs from the district who wish to get the loan must meet requirements, get authorization from the district and have a proper plan to invest the loan they receive. “The loan given is not free money and Mama Bank will provide financial training to these MSMEs and SMEs on how they can utilize the loan they get,” he added. Member for Abau District Sir Puka Temu said he is excited about this partnership with Mama Bank because access to credit schemes is very important to rural people. Sir Puka said that he wants to see the credit scheme work out for his people, and out of the sixty thousand people of Abau district, at least a few should be successful from this credit scheme and have big businesses in the future. He spoke on the importance of access to credit by rural people and how people should know the power of money and how to make money work for us.

Papua New Guinea’s geographical and strategic importance in the Aisa-Pacific region makes PNG an attractive investment destination. Prime Minister James Marape when reflecting on the World Economic Forum (WEF), emphasized PNG’s geographical and strategic importance in the Asia-Pacific region. Mr. Marape said with Aisa driving the next century of global economic growth, PNG is uniquely positioned as a resource-rich nation close to major markets in Southeast Asia, China and India. “This proximity, coupled with our membership in ASEAN-related frameworks, makes PNG an attractive investment destination,” Mr. Marape said. He added that the forum provided an opportunity to emphasis PNG’s transition towards becoming a hub for manufactured products and downstream processing. “We want to go beyond just exporting resources. By establishing special economic zones and fostering partnerships with global investors, we aim to produce finished goods and export to Southeast Asia and beyond,” he said. Mr. Marape also met agriculture and forestry companies at the WEF. A key focus of the discussions at WEF was the government’s commitment to reforming PNG’s investment framework ahead of its 50th anniversary of independence. The Prime Minister outlined plans for a transition to a clear and investor-friendly hybrid production-sharing model. “This new framework will ensure that PNG benefits equitably from its resources while giving investors clarity and certainty on their returns. Existing agreements will be honored, but new projects will operate under clear laws that define taxes, royalties, and equity arrangements. This approach will reduce negotiation timelines and provide confidence for both PNG and investors,” Mr. Marape said. He said the reforms aim to create a legal structure that guarantees PNG’ s long-term economic security, ensuring that future governments and investors operate with clarity and mutual benefit. “This is about creating a legacy that transcends individual leaders, a structure that secures PNG’s future earnings while maintaining its attractiveness as a high-return investment destination,” he added. Mr. Marape described the forum as a powerful reminder of PNG’s potential on the global stage. “When the world’s largest oil, gas and mining companies express confidence in PNG as a investment destination, it shows the strength of our nation’s position in the global economy. From our proximity to Asian markets to the vast resources we possess, PNG is poised to play a pivotal role in the global energy and resource sectors for decades to come. My government is committed to fostering partnerships with investors, creating opportunities for Papua New Guineans and driving our nations’ development forward,” Marape concluded.

Prime Minister James Marape has described the World Economic Forum (WEF) in Davos, Switzerland as an eye-opening experience and a significant opportunity to engage with global leaders in science, technology, business and economic development. Reflecting on the forum, Mr. Marape said that the WEF was not just about nation-to-nation discussion but also about connecting with global companies, technology innovations and key investors. Mr. Marape said it provided a rare chance to meet the leaders of some of the world’s most influential organizations in one place. “ExxonMobil, TotalEnergies, Newcrest Mining and Newmont Corporation to name a few and discuss the future of Papua New Guinea as an investment destination,” Mr. Marape said. During the forum Mr. Marape met with top executives, including the presidents and CEOs of ExxonMobil, TotalEnergies and Newmont as well as other influential players in the oil, gas and mining sectors. These discussions reaffirmed their commitment to long-term investments in PNG, including key projects such as Papua LNG, P’nyang LNG and Wafi-Golpu. “ExxonMobil and TotalEnergies shared plans to ramp up their investments in PNG, with Total committing USD 200-300 million to exploration activities this year in Central Province. These companies have expressed strong confidence in PNG’s economic potential, underscoring their belief in the stability and growth of our nation,” Mr. Marape said. He highlighted that these investments represent over USD20 billion in economic development slated to take place in PNG over the next five years. “This is a testament to the confidence global investors have in our economy and our resources, positioning PNG as a key player in the global energy and resource market,” Mr. Marape added.

Ok Tedi Mining Limited (OTML) has surpassed its annual sediment dredging and its rehabilitation target for 2024 at its Bige Operations. The Bige Operations Team has consistently met and exceeded its annual sediment dredging and rehabilitation target consecutively over the last 5 years. This achievement highlights OTML’s ongoing dedication to managing the sediment loads in the Ok Tedi and Fly River systems, preventing adverse environmental and social impacts. Manager Bige Operations, Naimen Kepan, emphasized the importance of meeting these targets for OTML. Highlighting their role in maintaining the company's social license to operate. Achieving these goals also helps minimize the impact of riverine sediments on the environment and supports local communities. He further explained that it is a key component of responsible mining and aligns with the Ok Tedi Environment Management Act (OTEMA) guidelines and requirements. “Reaching our rehabilitation targets brings us closer to restoring the East Bank stockpile in accordance with OTML’s Mine Area Rehabilitation Plan (MARP) and Closure Plan, ultimately ensuring a sustainable environment for the local community after mine closure,” said Mr. Kepan. OTML has dredged approximately 438 million tonnes of sand from the river since 1998 at a cost of USD$60 million (PGK240,150 million) per annum. This operation has significantly contributed to reducing riverbed aggradation and the associated dieback. Last year, 10.75 million Cubic Meters (Mm3) of river sediments was dredged, surpassing the target of 10 Mm3, while 35.21 Hectares (ha) of sand stockpile was rehabilitated, exceeding the target of 30 ha. This achievement reaffirms OTML’s commitment to sustainable growth, economic prosperity, and community well-being supported by environmental sustainability, community development and operational excellence.

Ok Tedi Mining Limited (OTML), through its Health Services Department, launched its first Mental Health Clinic at the Tabubil Hospital on January 14th. The clinic will provide a range of services, including counselling and therapy, as well as educational resources and workshops aimed at raising awareness and reducing the stigma surrounding mental health. OTML Manager Health Services, Raymond Singamis, said that the mental health facility is part of OTML's strategic plan to reduce psychosocial hazards. “From 2017 to date, we have supported six individuals suffering from severe mental health issues. Over the years, the number of people with mental health problems has increased,” said Mr. Singamis. He added that they are also developing a Memorandum of Understanding (MOU) with Laloki Psychiatric Hospital to strengthen their referral pathways and gain expert assistance. OTML General Manager Strategic Business Development & Optimization, Mr. Alan Bong said that the opening of the mental health clinic is a significant step towards ensuring that their employees and the Tabubil community have access to the support they need to maintain their mental well-being. Laloki Psychiatric Hospital Chief Executive Officer, Dr Losavati Daugunu, acknowledged the OTML management and Health Services for leading the way in providing mental health services in the Western Province. Dr Daugunu stated that the overall operations of inpatient care services for mental illness, like those at Laloki Psychiatric Hospital, place a strain on the national economy. “OTML is alleviating this burden at the primary care level,” said Dr Daugunu. The opening of the mental health clinic reflects OTML's commitment to enhancing mental health services for its workforce, business partners, the Tabubil community, and the mine impacted villages. OTML has implemented various initiatives to support the mental health and well-being of its workforce, including workplace counselling, regular wellness activities in gyms, and the mental health campaign ‘Wantok Yu Orait?’ launched in November 2024.