The Commissioner of Police David Manning, has confirmed a major investigation is underway into the holdup and theft of a shipment of gold bullion and cash that was being transported by a private security company during the early hours of this morning in Port Moresby.

Commissioner Manning confirmed that at around 4:30 AM this morning, two private security vehicles were intercepted by unknown vehicles in Port Moresby.

“Ten-armed assailants held the security crews at gunpoint and proceeded to steal a quantity of gold and cash, as well as firearms.”

He said that investigation is under the direction of Royal Papua New Guinea Constabulary (RPNGC) Deputy Commissioner of Specialist Operations, Donald Yamasombi.

“The gold and cash were being carried by a private security firm, and police had not been alerted to the movement prior to it taking place.”

Commissioner Manning clearly stated that police are not privy to the standard operating procedures of private security businesses that are contracted to carry commercial valuables.

“There are a number of witnesses that are being interviewed, including the private security crews, as well as management and workers from the firm.”

“This is a very serious incident. Early indications are that the movement of these valuables by the security company leaves a lot to be desired in terms of how the private operation was conducted.”

The RPNGC and the clients of these security companies expect the highest professional conduct by their management and personnel.

Meanwhile, Commissioner Manning said that investigations are well underway into all aspects of this incident, including the operating procedures of the security company.

“The priority for investigators is the timely identification of those involved and recovery of stolen goods.”

Further information will be provided at an appropriate time.