Latest Papua New Guinea News

Mitchell Services reported a transitional FY25 with revenue growth but earnings pressure from lower utilisation and mobilisation costs. The company secured key contracts and launched a decarbonisation joint venture, positioning for a stronger FY26.

St Barbara Limited reported a $52 million underlying loss for FY25, driven by investments in its Simberi Expansion Project and operational challenges. The company classified its Atlantic operations as discontinued, recognizing a $38 million impairment, while completing a $100 million capital raise to support growth.

Saunders International reported a modest revenue dip and sharp profit decline in FY2025, offset by a transformative acquisition that expands its water infrastructure footprint and doubles its project pipeline.

The Papua New Guinea Mining Advisory Committee has recommended extending St Barbara's Simberi Mining Lease to 2038, aligning with plans to boost gold production beyond 200,000 ounces annually.

Geopacific Resources reports significant high-grade gold trench results extending mineralisation at Little MacKenzie within its Woodlark Gold Project, Papua New Guinea. A major 30,000-metre drilling campaign is now underway to expand the resource base and explore new targets.

Pacific Lime and Cement Limited has approved the Final Investment Decision for its Central Lime Project, adopting a fully equity-funded approach that slashes upfront capital costs by 42% and secures strong backing from the Papua New Guinea government and local communities.

Perseus Mining announces the retirement of long-serving CEO Jeff Quartermaine, who transformed the company into an ASX100 gold producer. Craig Jones, former Newcrest COO, will take the helm in October 2025, steering Perseus through its next growth phase.

Coppermoly Limited has reported significant exploration advances at its Mt Isa projects, highlighted by a major magnetic anomaly discovery and the appointment of seasoned geologist Dickson Leah as CEO.

Pacific Lime and Cement Limited has made significant strides in Papua New Guinea, rebranding and advancing key projects while initiating commercial quicklime shipments to Western Australia. The company’s robust cash position and community agreements set the stage for upcoming construction milestones.

Gold Mountain Limited has kicked off diamond drilling at its Irajuba rare earth project in Brazil, defining a significant exploration target while securing $3.05 million to fuel ongoing exploration.

Augustus Minerals reports significant advances in gold exploration at its Music Well Project with multiple high-grade assay results and secures a strategic licence application for the Mt Kare Gold Project in Papua New Guinea.

Voltaic Strategic Resources advances exploration at its Meekatharra Gold Project with new high-priority gold corridors identified, while rare earth element anomalies emerge at Paddys Well. The company maintains a strong cash position to support ongoing activities.