Petromin PNG Holdings Acquires Emperor Mines Stakr in Tolukuma Gold Mine

Petromin PNG Holdings Limited is pleased to announce that it has acquired Emperor Mines’ stake in Tolukuma Gold Mines.
Through the acquisition Petromin will also own 10 exploration tenements making it the largest on shore mining tenement holder in the country.
The Managing Director and CEO of Petromin, Mr. Joshua Kalinoe said Petromin is happy to accept the challenge of owning and operating the mine on behalf of the people of Papua New Guinea.
The small open pit and underground mine has been in operation since 1995 and since then has experienced several successful mine extensions.
Negotiations between Emperor Mines Limited and Petromin PNG Holdings Limited began in late December 2007 with final agreement reached on Tuesday 5th February, 2008.
Mr. Kalinoe thanked Emperor Mines for its commitment to developing the mine over the last few years while the mine was under its ownership. He said the mine brings with it a lot of challenges in geology, engineering, logistics and mine management.
“Obviously the acquisition gives Petromin the opportunity to learn the ropes of managing and operating a mine in a challenging environment.
“We believe there is plenty of life at Tolukuma. It needs further exploration and infield drilling to prove up the reserves.
“The biggest strength we have is that it is a performing mine and it has a potentially large existing resource, infrastructure and staff who are committed to taking on the challenges even under a new owner.
“Petromin will have to take advantage of this strength and make it an efficient and effective operation,” Mr. Kalinoe said.

Petromin Graduate Trainee Program Begins

Pix provided
Caption: Ready to Go….Petromin HR Manager Timboko Pyapeta flanked by two of the graduate trainees, Roy Sangi on his right and Isaac Kone on his left.

The strategic management and training of graduate trainees is important in addressing the chronic skill shortage affecting the industry in PNG and the Asia Pacific Region.
The new Human Resource Manager for Petromin PNG Holdings Limited, Mr Timboko Pyapeta said because of the skills shortage there is aggressive competition for skilled employees in the industry, the impact of which has been felt by many resource organizations.
“If we are not prepared, competition for available skills will be very aggressive. As a national company, we want to put Petromin in the hands of nationals and without a commitment in their career development at an early stage, this can only be a dream.”
Petromin has developed and put in place a Graduate Development Program designed to expose new graduates in fields related to mining and petroleum industry. These graduates will be given administrative and operational exposure complimented with formal training over a period of three to four years. Secondments and post graduate training both in country and overseas will be essential part of this training.
Six candidates have been identified with three commencing their training in January 2008, with the other three expected to join soon.
Mr Pyapeta is the former Employee Relations Coordinator for Porgera Joint Venture.
He has held various senior Human Resource management roles in both the private and the public sector, including PNG Harbours Board (now PNG Ports Corporation), Ok Tedi Limited and Porgera Joint Venture and was a graduate trainee with Bougainville Copper Limited.
A graduate of the University of PNG, Mr Pyapeta also has an MBA from the University of Central Queensland in Australia.
He said his new role with Petromin PNG Holdings presents with him the opportunity and the challenge to build a robust Human Resource system on par with global industry best practices standards.

Sam Inguba Joins Petromin PNG Holdings Limited

Petromin PNG Holdings Limited is pleased to announce that Former Police Chief Mr. Sam Inguba has joined the company as Manager for Government Relations and Community Affairs within the Corporate Affairs Division.
Mr. Inguba has over 33 years experience with the Royal PNG Constabulary and was appointed Police Commissioner in 2002 by the Somare Government. He served in the position for a full four year term ending in 2006. During this time, he implemented many of the reforms that have helped the Royal PNG Constabulary become a more modern police force.

In welcoming Mr. Inguba to Petromin, Managing Director and Chief Executive Officer Mr. Joshua Kalinoe said Mr. Inguba brings with him a wealth of experience in Government and community relations that will be of valuable assistance to Petromin.

“Mr. Inguba is a well respected and highly disciplined individual.
During his service with the Royal PNG Constabulary and his tenure as police chief, Mr. Inguba has developed excellent relations with many communities, private companies, governments and government departments.

Mr. Kalinoe said that Petromin has the mandate to hold and grow the state’s assets in the petroleum and mining sectors and in order to do so, employing individuals such as Mr. Inguba with the ability to positively manage community issues, was essential.