Papua New Guinea sees a rise in gold production amid global trends, but sustained growth will require strategic investment and policy reform.

Gold mining is a global industry with operations on every continent except Antarctica. China, Russia, and Australia remain the top three gold-producing countries. According to the World Gold Council, China is the largest gold producer, accounting for approximately 10% of total global gold production. However, the World Population Review reported that despite maintaining its position as the number one gold-producing country in 2025, China experienced a downtrend in production in 2018. That year’s output was 6% lower than in 2017, primarily due to stricter environmental regulations imposed by the Chinese government. 

The World Gold Council states that Papua New Guinea (PNG) produces approximately 41.3 tonnes of gold annually. According to the Mineral Resources Authority (MRA), PNG hosts four world-class large-scale mines, three medium-scale mines, several small-scale mines, and multiple alluvial gold fields across the country. The large-scale mines include Newmont on Lihir Island (previously owned by Newcrest), Porgera, Ok Tedi, and Ramu. Newmont and Porgera produce gold-silver doré bars, while Ok Tedi produces copper-gold concentrates, and Ramu primarily extracts nickel-cobalt. The medium-scale mines—Hidden Valley, Simberi, and K92—primarily produce gold and silver. The small-scale mines, including Tolukuma and Sinivit, mainly focus on gold extraction.

Papua New Guinea ranks 19th among the top 20 gold-producing countries globally, as reported by Mining Technology. PNG’s gold production experienced a notable surge in 2024, increasing by 14.8% during the first three quarters compared to the same period in 2023. This rise in production was highlighted in the February 2025 PNG Westpac Wailis Economic Report. The surge in exports was driven by strong global gold prices and the revival of the Porgera Mine, which resumed operations in 2024. Additionally, in December 2024, PNG exported gold worth K1.4 billion to Australia for refining, bringing the total gold exports to Australia for that year to K9.7 billion.

Even though gold production went up, PNG’s gold reserves stayed the same at 1.96 tonnes in the second quarter of 2024, according to the World Gold Council. Gold reserves are the amount of gold held by a country’s central bank, often used to support its currency or as a store of value. Since 2000, PNG’s reserves have averaged 1.79 tonnes. In comparison, the top five countries with the most gold are the U.S. (8,133.46 tonnes), Germany, France, China, and Switzerland.

PNG has significant potential for expanding its gold mining sector. The Wafi-Golpu project, a joint venture between Harmony Gold and Newmont, is expected to become a major mine in Morobe Province. According to the updated Wafi-Golpu Feasibility Study released by Newcrest Mining Limited in March 2018, this project could produce a substantial amount of gold annually, as detailed by Mining Weekly and the Wafi-Golpu Joint Venture Website. The PNG government is negotiating a long-term mining lease for Wafi-Golpu, which, according to reports by the Post Courier, could bring considerable economic benefits to the country. Furthermore, as noted by Business Advantage PNG, these developments underscore PNG’s growing importance in the global gold industry.

As PNG continues to make strides in gold production, there remains a pressing need for strategic investments, improved mining policies, and sustainable practices to secure its position in the global market. How can PNG capitalise on this momentum and strengthen its mining sector for long-term economic growth?