NPL Graduates Inspire Students to Join PNG’s Mineral Resources Sector

Papua New Guinea’s economy remains heavily dependent on its mining and petroleum industry, according to the Bank of Papua New Guinea (BPNG).

BPNG Deputy Governor Jeffery Yabom told participants at the 2025 PNG Resources Week that the sector brought in K43.9 billion last year, contributing 85 percent of the country’s total export earnings. In contrast, the non-mineral sector only generated K7.8 billion, or 15 percent.

Mr Yabom also raised alarms over the increasing trend of illegal gold smuggling, which he believes is contributing to the sharp drop in alluvial gold export figures. He said exports of alluvial gold plunged from K650 million in 2021 to just K270 million in 2022.

He clarified that while BPNG issues gold export licenses, enforcement and security measures are under the jurisdiction of PNG Customs.

Highlighting a long-standing trend, Mr Yabom stressed that since Independence in 1975, PNG has remained reliant on mineral export revenues. He warned of additional risks, including companies choosing to bank earnings overseas.

According to BPNG, the mineral and petroleum sector also makes up around 30 percent of PNG’s Gross Domestic Product (GDP).

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NPL Graduates Inspire Students to Join PNG’s Mineral Resources Sector