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Papua New Guinea show-cased its country, people and potential as a gold producing nation at Dubai’s annual premier Global Gold Convention on 21 November 2021.
The Conference was organized by IBMC International, a Dubai based investment and match-making company. More than 50 countries in Africa, Asia, the Middle East, and experts in finance, Government policy, gold bullion trade and innovation, including block chain, shared ideas and views and new technological inventions at the Roundtable. The event is the world’s largest gold convention and the highlight of this event was the awarding of the Global Gold Excellence Award to
Papua New Guinea through Ambassador Joshua Kalinoe.
"Papua New Guinea Expo Deputy Commissioner General Mrs. Jacinta Warakai Manua receiving the award from Chairman of the International Chamber of Commerce and Secretary General of the Federation of UAE His Excellency Humaid Ben Salem and witnessed by CEO of the IBMC Financial Professional Group Mr. Sajith Kumar on the right with Mr. Anoop from IBMC as well on the left. "
Papua New Guinea was allocated a speaking slot in the panel discussions as well as to play a promotional video on the country, people and culture. Ten Pavilion staff, including the Deputy Commissioner General Mrs Jacinta Warakai-Manua were invited.
Mrs. Manua made opening remarks on behalf of the PNG participants at the Convention and introduced the Commissioner General and Papua New Guinea’s Ambassador to Belgium and the European Union, Mr. Joshua Kalinoe to provide an update on the gold and mineral resources and production statistics, including the future potential of the country as one of the leading gold producing countries in the World.
Ambassador Kalinoe informed the participants that Papua New Guinea has been a gold exporter since the 1930s and is among the large gold producing countries of the world.
He said according to available Government statistics and projections, Papua New Guinea will maintain strong performance at 1.5 million to 2 million ounces of gold annually over the next five years to 2030.
“PNG will continue to be a strong gold producer in the years ahead when several medium and large scale mines a brought into production in the medium and long terms,’ he said
The United Arab Emirates and Dubai in particular, is becoming a leader in gold trade by applying transparent and innovative trading systems.
The Convention also had speakers from Europe, North America, UAE, Australia and India where current and future trends in the trade of gold products, including bullion and jewelry were discussed.
Papua New Guinea was invited to speak at the segment on emerging gold production regions.
Ambassador Kalinoe informed the Convention that Papua New Guinea is a greenfield destination where the potential for gold and other metal production, including copper, remains under-developed.
“Based on available official statistics, there are opportunities to invest in exploration and downstream processing in the PNG mining sector, either in partnership with the existing license holders or in new licenses.
‘Full potential of gold, copper and other minerals, including in the small scale grassroot alluvial gold mining has not been fully realized.
“Papua New Guinea has a transparent commercial and banking regime as well as an investment friendly climate with a stable West-Minister system of democratic Government”, Ambassador Kalinoe said.
He invited investors to talk to the PNG Expo Team at the Gold Convention or visit the PNG pavilion to find out more on investment opportunities, not only in the minerals sector but also in other sectors as well.
The expo team has packaged a total of 23 investment projects worth of more than K37 billion from the different sectors in the country. The projects are currently being promoted at the world expo and opportunities such as the Global Gold Convention and the investment forums are targeted events for promoting these projects.
PNG’s participation in the Global Gold Convention attracted a number of investment interests not only in the Mining sector but also in banking, forestry, agriculture and herbal products.