PNG to Join NRL in 2028 with Full Support from Australian Government

 Papua New Guinea-based companies have been urged to reinvest in the country by expanding and diversifying their business operations, according to International Trade and Investment Minister Richard Maru.

Maru made this call after attending the PNG Investment Week conference in Sydney. He highlighted that PNG-based companies possess a deep understanding of the local business environment, including the challenges they have faced, and are better positioned to assess the risks associated with expansion and diversification plans due to their local knowledge and experience.

During the conference, Maru noted that two companies stood out: K92 Mining and Canadian company High Arctic, whose chairman Michael Binnion also serves as the PNG consul-general in Canada. High Arctic has reportedly approached the Government to be listed on the PNG National Stock Exchange (PNGX) next year to raise domestic capital for its expansion and diversification plans in PNG.

Maru also shared that High Arctic is eager to collaborate with the Government to organize a major trade delegation to Canada next year. This initiative aims to market PNG’s investment opportunities to the Canadian investment community and strengthen trade and investment ties between the two nations.

The minister assured Binnion of his office’s support in working with the National Stock Exchange and the Securities Commission of PNG to facilitate High Arctic’s listing on PNGX. He added that this would allow the company to issue an initial public offering (IPO) for PNG investors.

Maru further encouraged K92 Mining to also consider listing on the PNGX, enabling citizens, institutional shareholders, and landowner companies to invest and fund its expansion plans. He expressed confidence that K92 Mining has the potential to become a tier-one mining company, emphasizing its promising future in Papua New Guinea.

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PNG to Join NRL in 2028 with Full Support from Australian Government