Papua New Guinea (PNG) has a strong mining, oil and gas and exploration industry. With its rich and diversified wealth of natural resources, such as minerals, oil, gas and timber agriculture, as well as being located in a highly prospective region, the opportunity for large-scale development is significant.
Major companies operating in PNG include Barrick Gold (Porgera), OK Tedi Mining (Ok Tedi), Newcrest Mining (Lihir, Hidden Valley), Exxon Mobil PNG (PNG LNG), China Metallurgical Group (Ramu), Rio Tinto (Bougainville), Harmony Gold Mining (Hidden Valley), Oil Search (Hides), Petromin PNG (Tolukuma), PanAust (Frieda River) and Nautilus Minerals (Solwara).
Total exports from Papua New Guinea are valued at more than $US2 billion, major exports being minerals (gold, silver, copper and crude oil), timber, coffee, palm oil, cocoa and copra. Papua New Guinea has experienced a relatively even balance of trade over the last five years, with exports marginally exceeding imports.
Major imports consist of machinery and equipment, manufactured goods and chemicals.
The top import origins are Australia ($1.14B), China ($768M), Singapore ($441M), Malaysia ($325M) and Indonesia ($174M).
