The first of its kind Papua New Guinea (PNG) Mining Seminar was hosted in Japan recently where the vast opportunities in the country’s mining sector were presented to potential investors from Japan. It was a milestone event co- hosted by Ok Tedi where Prime Minister James Marape and Minister for International Trade and Investment, Richard Maru both addressed the sixty (60) person strong audience, consisting of Japanese smelter partners, industry peers and interested investors. Ok Tedi Managing Director and Chief Executive Officer (CEO)Mr. Kedi Ilimbit, who presented at the seminar on the mutual benefits of the PNG–Japan relationship, shared his…
Author: Emmanuel MAIPE
The Opposition has called the recent State sale of the Motor Vehicle Insurance Limited (MVIL) Shares in the BSP Financial Group Limited (BSP) to the Mineral Resources Development Company (MRDC) as an unfair concentration of national wealth. The Member for Sinasina-Yongamugl and outspoken Opposition strong man, Kerenga Kua, said this is because the MVIL Shares now with the MRDC, is now owned by few resource provinces. “As we know, MRDC is predominately owned by only a very few resource provinces. These few resources provinces are already benefiting immensely from resource projects in their areas. Mr. Kua said they have between…
Prime Minister (PM) James Marape has announced that the government will strongly defend its position following a surprise ex parte court order obtained by former Kumul Petroleum Holdings Limited (KPHL) Chairman, saying that the position of Chairman is not for just one person. The Board of KPHL had successfully obtained a court order to stay the implementation of recent purported board appointments by Instruments of Appointment that were signed off by the company’s Trustee Shareholder, Prime Minister Marape. The stay, issued by the Chief Justice Sir Gibbs Salika in the National Court, halts the purported appointment of Gerea Aopi as…
The unity and cooperation of policing in the pacific region was represented this morning at the inaugural Pacific Police Band Tattoo 2025, showcasing a brilliant performance and display of police bands in union at the Sir Hubert Murray Stadium in Port Moresby city. As expected by the crowd that gathered this morning at the stadium, the event did not disappoint. Full of brilliantly decorated police ceremonial uniforms and the sound of the thumbing and beating of the drums beautifully in rhythm with the trumpets and bagpipes along with some humor, the overall performance was amazing, keeping the crowd entertained right…
The Opposition is making a strong call to the Prime Minister to immediately establish a Commission of Inquiry (COI) to look into the recent sale of the Motor Vehicle Insurance Limited (MVIL) shares in BSP, calling also for a freeze on the proceeds of the sale. In a press conference this afternoon at the Dream Inn in Port Moresby city, the Member for Sinesine Yongomugl and outspoken Opposition member, Kerenga Kua describe the sale of MVIL shares in BSP Financial Group Limited to the Mineral Resource Development Company (MRDC) as a State sponsored crime. He continues to stress that the…
The Opposition is calling on the national government to sort out this matter of outstanding payments for the Koiari Landowners (LO) still owed to them as per the agreements and promises made by the State. This call comes following a sit in protest by the landowners at Rouna today in Central province, demanding that the State pays them for use of their resource, which is the water used for the hydro power and water supply to Port Moresby city residents and business houses. Opposition Leader Douglas Tomuriesa in a press conference this afternoon in Port Moresby city, calls for an…
Recent reports of law-and-order issues like the destruction of a bridge in Porgera Paiela in Enga province allegedly by supporters of a by election candidate and the attacks on the public in Port Moresby city last evening after the PNG Story celebrations, highlights the need for a serious approach to curbing the increase in crime in the country. Earlier during the week, the Opposition team held an important press conference at the Dream Inn in Port Moresby city and these very issues in law and order were raised among other things that they say are not being fully addressed by…
The seventy (70) per cent (%) Motor Vehicle Insurance Limited (MVIL) shares in BSP sold by the State was purchased by the Mineral Resources Development Company (MRDC), a Papua New Guinean buyer and not a foreign investor as speculated following the announcement recently. This was revealed by the Minister for State Enterprises, William Duma this week, putting it out there for the public and business community to know and easing some concerns that were raised regarding the future of the MVIL and its ownership. “Ownership of these shares in BSP remains within our country, giving the opportunity for everyday Papua…
Passengers and crew members on board an Air Niugini international flight into Port Moresby city this morning, are all safe and accounted for after the aircraft experienced a difficulty whilst landing at the Jackson International Airport. Air Niugini confirms this, stating that flight PX011 from Manila to Port Moresby landed safely at 08:25 this morning. Shortly after touchdown, one of the aircraft’s tyres deflated, and the aircraft came to a controlled stop on the runway. All passengers and crew members remained safe and on board throughout the response. According to Air Niugini, after assessment and consultation with the flight crew…
The BSP Financial Group Limited has become a Gold Sponsor for the much-anticipated 2025 Special Economic Zone (SEZ) Summit with a sponsorship of K200, 000 presented this week to the Minister for International Trade and Investment. The presentation event took place on Tuesday 15th July at the BSP Ravalian Haus in Port Moresby city where Minister for International Trade and Investment, Richard Maru, MP, thanked BSP for its contribution and support of the summit, emphasizing the critical role of public-private partnerships in achieving economic independence. “We appreciate BSP’s commitment as Gold Sponsor. The bank’s support sends a clear message —…