Minerals

These export revenues account for about 44 percent of PNG’s annual export revenue.

Speaking on Tuesday, December 12^th, at the 17^th PNG Resources and Energy Investment Conference in Sydney, PNG’s Minister for Mining, Sir Ano Pala, said: “The total annual export revenue peaked at K15.7 billion in 2020 and decreased to K13.1 billion thereafter due to the closure of Porgera mine.

“The value of export revenue from the mining sector is comparable to hydrocarbons since the first export of Liquified Natural Gas (LNG) in 2014.

It is also known that the PNG export businesses have been dominated by foreign-owned multinational businesses, says a National Research Institute Discussion Paper No. 207 on “Barriers to internationalization of indigenous-owned micro, small and medium-size enterprises in PNG.

The National Research Institute today released the Discussion Paper written by Joseph Muniu, Francis Odhuno and Dianah Ngui that provides some insight into why the country's MSMEs are not engaging in export business as expected.

A gold rush has erupted in the southwestern Polish city of Walbrzych after the men told authorities they have located a war-time train there, possibly with valuables. A deputy culture minister said he is 99 percent sure the train exists, adding fuel to a local legend about a Nazi gold train hidden since 1945 in a tunnel in Walbrzych.

But lawyer Jaroslaw Chmielewski told TVN24 on Wednesday the train is buried in the ground and probably holds no valuables except some precious minerals.