Latest Papua New Guinea News

Tolu Minerals has locked in a K95 million (approx. A$30 million) debt facility from a Papua New Guinea bank, complementing its A$50 million cash reserves to fully fund the restart of its Tolukuma Gold Mine. Production is targeted for the first quarter of 2027, with an updated Mineral Resource Estimate due imminently.

The Calmer Co International Limited has closed a renounceable rights issue, raising $1.82 million before costs with full director participation. The capital will support inventory build, retail expansion with Coles, and ongoing strategic partnerships in kava supply and manufacturing.

Taruga Minerals has unveiled exceptional gold and silver assays from rock chip sampling at its East Normanby Gold Project, confirming extensive high-grade epithermal mineralisation across an 8km corridor. The company is set to kick off its maiden diamond drilling program at the Weioko Gold Deposit, with multiple new targets identified for follow-up.

Geopacific Resources has completed a drilling campaign at its Woodlark Gold Project, delivering significant high-grade gold intercepts that reinforce and extend known mineralisation, potentially enhancing project economics.

St Barbara Limited has declared a fully franked dividend and is progressing construction and exploration across its New Simberi and Nova Scotia gold projects, supported by a strong cash position and no debt.

Kina Securities lifted its half-year net profit by 4% to PGK 59.7 million, underpinned by a strong capital injection via Papua New Guinea’s inaugural listed corporate bond and a 13% higher interim dividend in local currency.

St Barbara Limited's FY26 statutory profit surged to A$490 million, driven by a A$500 million gain from deconsolidating New Simberi Gold after Lingbao's strategic investment. The company declared a fully franked dividend and is weighing a significant share buy-back while advancing key gold projects.

Duratec Limited (ASX:DUR) reported a 4.1% rise in net profit after tax to $23.8 million for FY26 on stable revenue, underpinned by a record $650.8 million order book and multiple strategic acquisitions expanding its service portfolio.

Verbrec has landed $16 million in new contracts spanning engineering, construction, and cyber security services for gas infrastructure, reinforcing its role in Australia's energy security amid looming supply challenges.

Mitchell Services (ASX:MSV) posted a strong FY26 with revenue up 5% to A$207.4 million and EBITDA surging 67% to A$42.8 million. The company returned to a net cash position of A$3.5 million and declared a fully franked 2 cent dividend, reflecting robust operational execution and a strategic pivot towards gold.

BSP Financial Group has reported an 8.4% increase in net profit to K620 million for the first half of 2026, driven by a 17.7% surge in revenue and supported by a strong capital position and strategic investments.

Santos Limited's half-year results show a 19% drop in net profit to US$355 million amid higher production and LNG ramp-up costs, while declaring an interim dividend of 11.6 US cents per share.