Anthony Smare

Newmont acknowledged

Newmont completed the acquisition of Newcrest Mining Limited on the 6th 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 17th Resources and Energy Investment Conference in Sydney, that was held from the 10th-13th of December, 2023, at the International Convention Centre.

Why host conferences overseas?

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.

The value of overseas conferences

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 Retains Presidency

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:

Nambawan Super Chairman Anthony Smaré term ends

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 eyes affordable housing for members

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.

Nambawan Super announces record profit

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.

Nambawan Super launches new look logo and campaign

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.

Big difference if money flows in-country: Smare

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.

NSL against super healthcare scheme

NSL Board Chairman, Anthony Smare, says members must decide if they want to sign up for such a scheme, but warned it will have a significant impact on their savings.

He made the suggestion following a recent statement by Public Services Minister, Elias Kapavore, who called for a look into the proposed scheme.

During the announcement of NSL’s 2018 financial performance, Smare said the suggestion made recently to make it mandatory for public servants super contributions to pay for this health insurance was concerning.