Anthony Smare

Smare is a lawyer, geologist and entrepreneur and is one of PNG’s senior business leaders. He is presently the Executive Chairman of private equity firm TrueNorth Capital, with investments in various sectors locally and internationally, and directly employing over 2500 Papua New Guineans nationally.

He is also non-executive board chair of Paradise Company Ltd, Independent President of the Chambers of Resources & Energy (PNGCORE), and a non-executive director to many large companies over the last 20 years. 

Newmont completed the acquisition of Newcrest Mining Limited on the 6^th of November, 2023, making it the world’s leading gold company with robust copper production.

For the first time, they were represented at PNG’s 17^th Resources and Energy Investment Conference in Sydney, that was held from the 10^th-13^th of December, 2023, at the International Convention Centre.

It aims to gather multi-million Kina investors – and those who are already operating in-country – together to create partnerships and present PNG as an investor-friendly environment.

While local business conferences and SME meetings are equally important for economic growth, the PNG Chamber of Mines President, Anthony Smare, said it is multi-million Kina investments that move our country.

It is not just about what people talk about during the conference, as part of the program, said the president of the Papua New Guinea Chamber of Mines and Petroleum, Anthony Smare, on the final day of the inaugural PNG-Asia Investment Conference in Hong Kong.

Speaking to PNG media a few hours before yesterday afternoon’s closing of the event, Smare alluded to ‘accessibility’ when PNG conferences are hosted overseas. In this case, in Hong Kong, the gateway to Asia.  

Smaré was re-elected unopposed in the Chambers 34th Annual General Meeting held on Thursday 28th of April at the Hilton Hotel Port Moresby.

Smaré in 2021 had become the Mining, Oil and Gas industry’s first non-affiliated president, and independent of all the member companies that make up the Chamber’s membership.

Richard Kassman of TotalEnergies EP PNG Limited also retained his position as Senior Vice President, with Philip Samar of K92 Mining Limited joining the Council as Vice President.

Council members for the year 2022 include:

Mr Reg Monagi has been voted the new Chairman of PNG’s oldest and largest Super Fund by the Nambawan Super Board of Director.

Mr Smaré’s term as Chairperson of Nambawan Super ended in line with prudential standards that state the Chair of Nambawan Super can only formally hold office for 6 years.

“I was appointed a director of the Fund in 2012, and in 2013, I was appointed acting Chairman when Sir Nagora Bogan stepped down as chair before being formally appointed in 2014.” Mr Smaré said.

NSL Board Chairman, Anthony Smare, said the fund can now proceed with this plans following successful victories in legal disputes over ownership of the land.

Nambwan Super owns 360 hectares of land at 9 mile.

Since 1990 the fund has been locked in legal disputes over ownership.

“The fund has not been able to develop it since 1990, because since that time the fund has been battling people within government, who have been trying to take the titles off the fund. So we have been locked in court cases all this time.

This is despite challenging conditions experienced last year.

Nambawan Super Board Chairman, Anthony Smare, said the fund generated income of K703 million for 2019.

After tax, the fund recorded its highest ever profit of K504 million.

“This enables us to declare a 7% crediting rate, which will be processed and paid to members accounts, including Retirement Savings Accounts, over the next few days so that it is reflected in members balances by next week,” said Smare.

The rebranding also aims to engage members and the wider public about the role of the fund, its purpose in nation building, and celebrate its members.

The new logo, retaining a simple Kumul design as well as the national colors, reaffirms the values of the fund and that is being a super fund for everyone.

In its new campaign the fund has enlisted its members as Ambassadors to drive the funds new message.

Nambawan Super Limited (NSL) Chairman, Anthony Smare, in a brief response to his 2019 outlook, said many of the project signings have been delayed due to negotiations on the benefits that may be derived from them.

He said NSL was also looking at opportunities where major resource projects are expected to begin.

“If they spend money in country, then we see the benefits. If they don’t spend the money, we don’t see the benefits.