Tourists can now come into PNG again following a major change to Papua New Guinea’s pandemic measures, NICTA clarifies potential price reductions and licence for Feni Island project is renewed. The business news you need today.

The Feni Island copper/gold project. Credit: Ayton Resources

Travel

International tourists may travel to PNG as of today, following the issue of new pandemic measures, which also remove the need for pandemic approvals for those wishing to travel into PNG.

All persons must be fully vaccinated to travel to PNG, however, unless they are under 18 years of age or are a PNG citizen. They must also have had a valid COVID-19 test ‘within 72 hours prior to their original port of departure’. They will still be tested on arrival in PNG, unless they are aged 5 years to under or have a medical certificate certifying that they have had COVID-19 in the past three months and are no longer infectious. Seven-day quarantine will only apply for those that test positive on arrival in PNG.

For domestic flying, temperature checks and National Department of Health forms will still be required. COVID-19 restrictions no longer apply to public transport. While public gatherings are restricted to 100 people, religious gatherings, schools, educational institutions, markets and shopping centres and political gatherings are exempted. (Joint Agency Task Force)

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The PNG announcement follows news last week that Australia will reopen to all fully vaccinated visa holders, including tourists, business travellers, and other visitors from 21 February.  (Australian Government)

Energy

Local power company Air2Power has introduced an air turbine power generation system to PNG that uses compressed air to generate electricity. Managing Director and Chief Engineer Thompson Benguma reportedly told Post-Courier the system can supply power and water 24/7 at ‘the lowest possible cost anywhere in the country.’ (Post-Courier)

Telecommunications

No overall 60 per cent reduction in the wholesale internet price level yet, was the message that National Information and Communication Technology Authority (NICTA) Chief Executive Officer Kila Gulo-Vui gave The National. He explained that there was a reduction in wholesale price level of approximately 60 per cent by PNG DataCo in November last year. The reduction, however, only affected the metro broadband.

NICTA’s CEO said: ‘Wholesale prices charges for international capacity by PNG DataCo is an important determinant for retail prices. However, it is not the only one; it requires effective competition at the retail level for input cost reduction to be shared with customers and end users through lower retail prices.’ (Post-Courier)

Petroleum and gas

Santos has announced its full-year results for 2021, reporting an underlying profit of US$946 million (K3.32 billion).

‘The highlight of the year was the completion of our merger with Oil Search,’ said Santos’ Managing Director and Chief Executive Officer Kevin Gallagher in a statement. ‘The merger delivers increased scale and capacity to drive our disciplined, low-cost operating model and unrivalled growth opportunities over the next decade.’

‘The financial results we are announcing today include only three weeks of the merged company. Had the merger been in place for all of 2021, the combined asset portfolio would have generated more than US$2.3 billion (K8.07 billion) in free cash flow for the year.’

Mining

The mining license for Adyton Resources Corporation’s Feni Island copper/gold project in New Ireland Province has been renewed. The company’s CEO, Tim Crossley, said in a statement: ‘The renewal, which was recommended by the Mineral Resources Authority and approved by the Minister for Mining, was welcomed as the company moves into the next phase of its exploration program at Feni following the highly successful 2021 drilling campaign which culminated in hole ADK004 intersecting significant copper and gold mineralisation.’ (Adyton Resources)

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Given ongoing delays in the development of the Woodlark Gold Project, Australian listed mining company Geopacific Resources Limited announced earlier this month the suspension of all detailed engineering and civil works at the project. The suspension will help to preserve cash reserves while the company undergoes a review. Geopacific said in an announcement that ‘redundancies will be made across the organisation as a result of this decision.’ Trading of shares remains in suspension until the review is completed and there is an official announcement with the results. (Geopacific Resources)

Fisheries

The National Fisheries Authority (NFA) has registered Fisheries Capital, a new entity that would operate and do business in areas where the fisheries industry was not participating so that it can help generate opportunities for the sector. (The National)