Papua New Guinea National Stock Exchange (PNGX)

PNGX Group, operator of Papua New Guinea’s national stock exchange – PNGX Markets, made this known when welcoming Newmont Corporation (PNGX Code: NEM) to the market.

“Newmont has interests in the Lihir gold operation and the Wafi-Golpu gold and copper joint venture, both of which are significant to the future of the country,” said PNGX chairman, David Lawrence.

Minister for International Trade and Investment Richard Maru announced the appointment on Friday 31 March. Popoitai’s appointment was made pursuant to Section 12 (1) of the Capital Market Act 2015.

“It gives me great honor and privilege to announce the appointment of Mr Popoitai as a state nominated Director to the Board of PNGX,” said Minister Maru.

The injunction against the orders of the Securities Commission of PNG now allows for the recommencement of trading of its shares on PNGX.

On June 2^nd, the Securities Commission of PNG issued orders suspending the trading of Oil Search Shares on PNGX, allegations that Oil Search breached the PNG Capital Market Act by failing to obtain approval from the Securities Commission for the PNG Retail component of its recent capital raising.