Ok Tedi Mining Limited (OTML) just recently launched its 50th Anniversary logo to mark the country’s five decade of being and independent state, coinciding with the opening of its new office in Port Moresby city. OTML Managing Director and Chief Executive Officer (CEO) Mr. Kedi Ilimbit at the opening ceremony said the 50th Independence Anniversary Logo not only marks the county’s anniversary but also reflects on the years of operation and contribution to the economy of Papua New Guinea over 40 years ago when the mine started operations, just 10 years after independence. On to the new building- the Kwalumu…
Author: Emmanuel MAIPE
Ok Tedi Mining Limited (OTML) has announced its Quarter 1 (Q1) Results for 2025 and it looks good financially for the nationally owned mining company, promising some good returns for its investors. The exceptional performance results for Q1 CY2025, showcased yet another successful quarter of disciplined operational and financial excellence. OTML is a 100 percent Papua New Guinea (PNG) owned entity with 67 percent direct shareholding by the Independent State of PNG and the people of Western Province holding a 33 percent interest. 100% of the benefits from its operations are distributed to the people of Western Province and the…
The 10% base tariff (tax) imposed by the United States (US) President Donald Trump on exports from Papua New Guinea to the US market won’t have much impact locally in terms of costs of living, but a global recession is a big concern. The Papua New Guinea (PNG) Institute of National Affairs (INA) Executive Director Mr. Paul Barker in an interview with PNG HAUSBUNG recently revealed that tariff will have less impact because PNG exports less to the US market compared to what is imported from the US. Nevertheless, Mr. barker said these tariffs imposed by President Trump has created…
The Member for Kairuku, Peter Isoaimo is now the new Energy Minister and Member for Kerema Thomas Opa is now the new Finance Minister following the latest reshuffle made by Prime Minister James Marape. The prime minister made the announcement on Friday and also stating that the outgoing Finance Minister Miki Kaeok retains his Transport portfolio. Marape thanked Minister Kaeok for his tenure at Finance. Speaking after the swearing-in ceremony at Government House in Port Moresby city, Prime Minister Marape praised Mr. Isoaimo as a seasoned leader and dedicated member of the government coalition, noting his long political service since…
It has been confirmed that the late Sir Julius Chan will finally have his image printed on the K100 bank note as a mark of honour and a celebration of his service to the country as one of the founding fathers. Prime Minister James Marape today announced that Papua New Guinea (PNG) will honour the late Sir Julius with the issuance of a new K100 banknote bearing his image — a historic tribute to a man regarded as the chief architect of PNG’s financial system. Speaking during a commemorative event in Port Moresby today marking the 50th anniversary of the…
The Dagoda village in the Hiri- Koiari district of Central province recently saw the launch of the Robusta Coffee Nursery. The initiative, spearheaded by the Dagoda Coffee Cooperative, showcases an impressive 44,000 robusta coffee seedlings, aiming to revitalize coffee production in the region. It was officially launched by Central Province Governor Rufina Peter and Hiri/Koiari MP Keith Iduhu. Addressing the gathering at Dagoda village in Central province, Coffee Industry Corporation (CIC) acting Chief Executive Officer (CEO) Steven Tumae emphasized the importance of this local initiative in aligning with the government’s vision of producing three million bags of coffee by 2030.…
The greater Sepik that we are trying to build is not the place but it’s the people says young thriving private businessman Mr. Kevin Kamus. As a guest speaker at the 2025 Pacific Adventist University Sepik Student Association (PAUSA) New Student Orientation, Mr. Kamus told the PAUSA students that this greater Sepik that Sepiks dream to build, is not the infrastructural growth or development in Sepik, it is about changing and building the mindset of the people. “As a young man I dream of building Sepik, but my aim is to change the mindset of our younger generation to be…
The Vatican announced the passing of Pope Francis at the age of 88 on Easter Monday 21st April, announcing that the head of the Roman Catholic Church “returned to the house of the Father” at his residence, Casa Santa Marta. Following his passing, Prime Minister James Marape on behalf of the Government and people of Papua New Guinea (PNG), passed his deepest condolences to the global Catholic community and the Holy See on the passing of His Holiness Pope Francis. The death of Pope Francis is not only a loss to the Catholic faithful but to all humanity. He said…
In its efforts to promote financial education to Papua New Guineans, the Center for Excellence in Financial Inclusion (CEFI) recently signed a Memorandum of Understanding (MoU) with the Western Pacific University (WPU) to further this effort at the tertiary level. CEFI and the WPU signed this landmark MoU to jointly promote entrepreneurship, fintech, financial literacy, and microfinance education in Papua New Guinea (PNG). The MoU between CEFI and WPU signifies a collaborative effort to advance education, particularly in the realms of entrepreneurship and microfinance, fostering mutual growth and development. The MoU outlines several areas of collaboration, including: Support WPU with…
The President of the Porgera Chamber of Commerce and Industry has petitioned the Assistant Commissioner of Police Western End to address the ongoing law and order crisis in the Porgera Valley of Enga province or risk having business houses shutdown operations. In an official letter dated 17th April 2025 addressed to the Controller of the State of Emergency in Enga, the President Mr. Nickson Pakea plainly stated that Porgera businesses are no longer safe in an environment that is now extremely dangerous. The recent incidents along the main transport routes have raised significant concerns regarding the safety and security of…