ON EXCLUSIVE INSIGHT
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SECRET OF SUCCESS
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9 STEPS FORMULA
TO BUILD BIG MUSCLE
PEROVIT QUIBUS EXERRO DOLORE EARUPTATET AUT LACES
EDITION:30/5/20
Driving Global Growth from Local Roots: Zenex Drilling’s PNG-Based Expansion Story
After more than 25 years of drilling expertise across Papua New Guinea’s most remote and rugged terrain, Zenex Drilling is stepping boldly into its next chapter, with international growth on the horizon, a growing fleet of specialised equipment, and a workforce strategy that puts Papua New Guinean talent at the centre.
“This isn’t just about buying new machines,” says Emmanuel Bonte, General Manager of Zenex Drilling. “It’s about how we’ve built the capacity to scale. The growth we’re seeing now is the result of years of effort
investing in our people, refining our processes, and building genuine partnerships in the communities we work in.”
At the heart of Zenex Drilling’s latest expansion is the acquisition of a heavy-duty Piacentini 130t Low Loader. This specialist piece of equipment allows the company to move large-scale plant machinery with precision across mine sites, a capability increasingly sought by Tier 1 clients operating in PNG and abroad. This asset is already proving its value, recently photographed carrying machinery on-site.
The Piacentini Low Loader isn’t just a logistical asset; it’s a symbol of the company’s operational maturity. “With equipment like this, we’re able to offer integrated, end-toend support to our clients,” says Bonte. “We don’t just turn up with drill rigs. We come in with solutions for mobilisation, production support, maintenance, and everything in
Zenex Drilling’s story is as much about people as it is about machines. The company has long been recognised for its inclusive workforce model and investment in local talent. Many of its senior staff began as general labourers, rising through the ranks thanks to internal training programs and a cultural commitment to progression.
“One of the best decisions we made years ago was to stop waiting for qualified people to show up and start growing them ourselves,” Bonte reflects. “That’s been transformative. We have local teams that are capable, confident, and leading projects in PNG and beyond.”
This commitment to workforce development is formalised through Zenex’s ‘Way We Work’ initiative, a safety and leadership program tailored to the PNG context. Delivered through an open coaching model, the program equips employees not just with technical skills, but with the mindset and confidence to lead.
With more than 5.1 million hours worked without a lost time injury, Zenex Drilling’s safety record is a testament to the strength of its systems and the discipline of its crews. That
Zenex Drilling client inspects the new sonic rig during commissioning phase
safety culture is one of the reasons clients are turning to Zenex not just in PNG, but across international markets.
“We’re now being approached for work in Australia and South America,” Bonte confirms. “We’ve spent decades building trust, and that reputation is starting to carry across borders.”
The decision to scale internationally hasn’t been taken lightly. For Zenex, it’s not about rapid expansion but sustainable growth built on the same principles that served them well at home.
“We’re not chasing every opportunity. We’re choosing the right ones, where we know we can deliver value and maintain the quality we’re known for,” Bonte explains. “That’s why investment in equipment including the low loader and the dual head sonic rig is so important. It’s a capability that makes us more agile, more responsive, and more competitive.”
As the industry faces ongoing challenges in supply chains, skills shortages, and environmental, social and governance (ESG) expectations, Zenex’s approach offers a compelling model: invest in people, build capability from within, and let excellence speak for itself.
“I’m proud that we’re a PNG company growing globally,” says Bonte. “We’re proving that with the right mindset, our local expertise can compete anywhere in the world.” From humble beginnings to global growth, Zenex Drilling is showing what’s possible when technical innovation meets long-term community investment. And as their Piacentini Low Loader rolls across yet another mine site, carrying not just heavy machinery but the weight of decades of progress, one thing is clear: this is only the beginning.
Marape Welcomes New Australian High Commissioner McDonald
Papua New Guinea reaffirmed its strong ties with Australia as Prime Minister Hon. James Marape formally welcomed the new Australian High Commissioner, His Excellency Ewen Neil McDonald, during a courtesy call at the Office of the Prime Minister in Port Moresby.
Mr. Marape acknowledged the historic significance of McDonald’s appointment, especially as PNG prepares to celebrate 50 years of independence this year.
He extended congratulations to Australian Prime Minister Anthony Albanese and the Australian Labor Party on their recent electoral victory, noting that Australia’s Labor Government was instrumental in granting PNG independence in 1975.
“It is deeply symbolic that the Labor Government is once again leading Australia as we prepare to celebrate this historic milestone,” PM Marape said.
The Prime Minister formally invited Australia to join PNG’s 50th Independence Anniversary celebrations on 16th September 2025, marking another chapter in the enduring partnership between the two nations.
Recognizing Australia as PNG’s largest development partner, Prime Minister Marape highlighted the AU$637.4 million in Official Development Assistance allocated for 2024–2025.
He emphasized that the relationship between the two nations has grown into a strategic economic partnership, strengthened by trade, security cooperation, and peopleto-people ties.
“Our bilateral ties have broadened with the Comprehensive Strategic and Economic Partnership (CSEP 2020–2030) and the signing of the Bilateral Security Agreement (BSA 2023),” he said.
K92 Mining Reports Strong Q1 Results at Kainantu
K92 Mining Ltd., the operator of the Kainantu Gold Mine in Eastern Highlands Province, has reported its strongest first quarter (“Q1”) results to date, with 47,817 ounces gold equivalent (“AuEq”) produced in Q1 2025.
The result significantly exceeded budget, marking a 74% increase from Q1 2024 and the second highest quarterly production in the Company’s history.
The strong quarterly results were driven by high-grade stopes from both the Kora and Judd deposits, a positive grade reconciliation compared to the resource model, combined with excellent plant performance.
Metallurgical recoveries remained high at 95.8% for gold and 95.1% for copper, both marking the second highest on record.
The process plant treated 103,449 tonnes of ore at a head grade of 14.9 grams per tonne AuEq. Underground operations mined 104,052 tonnes of ore, with total material movement reaching 315,182 tonnes, the second highest on record.
Additionally, underground lateral development was also strong, setting a new monthly record in March with 954 metres of advance. This was supported by several major infrastructure upgrades commissioned earlier in the quarter.
During the quarter, K92 continued to advance its transformative Stage 3 Expansion, which is designed to establish Kainantu as a Tier 1, Mid-Tier Producer.
Construction is progressing well, with approximately 75% of the growth capital either spent or committed as of 31 March 2025. The commissioning of the new process plant is scheduled to commence in the second half of Q2 2025.
While investing significant capital in the mine during the quarter, K92 also made a corporate tax payment of PGK 48 million during the quarter.
The strong quarterly operational results reinforce K92’s capability to deliver on the upcoming expansions, which will significantly contribute economic development of Papua New Papua New Guinea while maintaining its commitment to safety, environmental stewardship, and community development.
John Lewins, K92 Mining’s Chief Executive Officer, said, “We are off to a great start in 2025 with our strongest Q1 to date. Operations have continued its momentum coming off a record year in 2024, achieving several records and near-records.”
“As our operation expands and becomes more successful, we are also very proud to contribute to the economic well-being of Papua New Guinea by making yet another corporate tax payment during the quarter,” he said.
“With commissioning of the new 1.2 million tonne per annum process plant set to begin shortly, this is shaping up to be a milestone year for both Kainantu and Papua New Guinea as we move closer to becoming a Tier 1 Mid-Tier gold producer,” Lewins added.
New Stage 3 Expansion Process Plant Rapidly Advancing Through Construction.
Pacific Towing has significantly improved fleet availability following a restructure in which a separate entity assumed responsibility for fleet management and maintenance.
PNG Marine Services Co.
Benefits from Restructure
Pacific Towing, a prominent marine services provider headquartered in Port Moresby, is reaping the benefits of a recent organisational restructure that has transferred the management and maintenance of its fleet to a newly established entity.
A key advantage of the change has been a marked improvement in fleet availability. This operational efficiency has also enabled leadership to sharpen its focus on securing new commercial ventures—including project-based opportunities tied to Papua New Guinea’s growing oil and gas industry.
Founded in 1977, Pacific Towing (PacTow) operates within the Logistics Division of the 106-year-old Steamships Trading Company Ltd., which counts John Swire & Sons as one of its two major shareholders. The division also includes Consort Express Lines (Consort), Papua New Guinea’s largest coastal shipping operation.
Established in February this year, Steamships Ship Management (SSM) combines the in-house ship management activities of both PacTow and Consort under a single umbrella organisation.
Kasnari reports that another benefit of PacTow’s restructure is the time he and his team now must take advantage of new commercial opportunities.
“Under the old structure we were spending an unsustainable amount of time trying to rectify suboptimal fleet availability. However, with SSM now responsible for fleet maintenance, as well as vessel bookings, HSSE, crewing, procurement, and vessel IT support, we are able to focus more on business development,” he said.
“This includes pursuing international towage and other project-based work, some of which is tied to PNG’s expanding oil and gas industry, as well as to other major resource developments and infrastructure programmes such as the upgrading of several of the nation’s ports.”
Pacific Towing is Melanesia’s largest marine services business. It employs more than 250 staff and has a fleet of 20 vessels. It provides a broad spectrum of marine services including towage, emergency response, commercial diving, life raft services, and salvage. PacTow is part of a larger maritime and land Logistics Division of the Steamships Group. To learn more about PacTow: www. pacifictowingmarineservices.com.
Gerard Kasnari, General Manager of PacTow, notes that the restructure has delivered measurable results in fleet availability.
“Repairing and maintaining vessels, including dry docking, presents an ongoing challenge for fleet owners across PNG and Melanesia,” Kasnari explains. “Fleet availability is rarely where we want it to be, but this new structure is helping us get much closer to those targets.”
Vessel maintenance in PNG is a key operational challenge, driven by the high cost and limited domestic availability of parts. Sourcing components internationally often involves prolonged lead times—particularly for oversized items that cannot be transported by air. PNG also has limited docking facilities.
As a result, PacTow has increasingly opted to send its tugs overseas for mandatory dry dockings, with two tugs, Waiowa and Keera, completing their life extension dockings in the 1st quarter this year.
SSM has managed to improve PacTow’s fleet availability relatively quickly through best practice technical management and via a more streamlined and systematic approach to preventative maintenance. Through this, further availability improvements will be realised under SSM’s uniform dry dock management approach.
The company should also begin to realise cost savings through SSM’s centralised procurement, rationalisation of spend, and economies of scale in purchasing.
