For more than 20 years Highlands Pacific Limited has been successfully operating in Papua New Guinea (PNG). It is now arguably PNG’s premier minerals explorer, developer and producer, advancing some of the country’s most important copper, gold and nickel assets. The PNG incorporated company, listed on the ASX and POMSoX Exchanges (under the code HIG) provides investors with leverage to the country’s significant mineral resource endowment. Approximately 30% of Highlands Pacific share register is held by the PNG Government and PNG based funds with the rest by international investors. Highlands Pacific is a joint venture partner in the massive Frieda River Copper-Gold project in the East Sepik Province, holds exploration ground 20km north of the Ok Tedi mine in the Star Mountains which is prospective for copper-gold, has an investment in the producing US$2b Ramu Nickel-Cobalt Mine near Madang, and exploration ground on Normanby Island targeting nickel laterites.
PNG Power Ltd (PPL) is a fully integrated power authority responsible for Generation, Transmission, Distribution and Retailing of Electricity throughout Papua New Guinea and servicing individual electricity consumers. PPL services customers in almost all urban centres throughout the country encompassing industrial, commercial, government and domestic sectors. Where possible, the services extend to rural communities adjacent to these urban centres.
PPL is also undertaking a regulatory role on behalf of the Independent Consumer and Competition Commission (ICCC). These responsibilities include approving licenses for electrical contractors, providing certification for models of electrical equipment and appliances to be sold in the country and providing safety advisory services and checks for major installations.
PNG Power Limited (Company No 1-44680) was corporatised under Section 3 (1) of the Electricity Commission (Privatisation) Act 2002 as the successor company to the Papua New Guinea Electricity Commission (ELCOM). All of ELCOM’s assets, liabilities, rights, titles and personnel were transferred to PPL.