The Bank of South Pacific (BSP) banking services was fully restored at the Paiam Mining Township last week, following its soft opening on January 26 with limited services.
This will help enable opening of an individual landholder household bank account.
The account opening was agreed during negotiations on the Community Development Agreement. The New Porgera Limited has proposed it and the State agreed that royalties, currently accrued at K157 million as of 31 December 2025, will be paid directly into the bank accounts.
The Porgera branch was closed in 2022 following tribal violence around the time of the National General Elections.
As a result, mine workers and members of the public were forced to travel long distances under unsafe conditions to Wabag or Mt Hagen to access banking services.
Although the branch briefly reopened, ongoing community unrest continued to disrupt its operations.
The latest reopening reflects a strong partnership between BSP and key stakeholders, particularly New Porgera Limited (NPL).
In October 2025, BSP and NPL signed a Banking Services Agreement under which NPL committed to supporting the safe recommencement of BSP operations in Porgera.
The agreement includes NPL utilizing BSP for selected banking services, providing six months’ accommodation for BSP staff at Suyan Camp following reopening, and facilitating charter flights for BSP personnel at cost. BSP, in turn, will deliver financial literacy training to the NPL workforce.
The official opening ceremony was attended by BSP Head of Corporate David Bishop, BSP Head of Market, Sales and Treasury Leighton Crisp, BSP Highlands Area Manager John Tomba, Paiam Town Mayor Daniel Wakape, Porgera–Paiela District Administrator Jerry Maku, and Guest of Honour, Deputy Governor of Enga, Hon. Jerry Paul Philip.
NPL was represented by General Manager James McTiernan, Sustainability Manager Fiorenzo Guarino, and Corporate Social Responsibility Manager Meck Minnala.
With a significant portion of the NPL workforce—along with contractors and service providers—residing in the Porgera Valley, the reopening of the branch was identified as a key priority.
BSP representatives acknowledged that the bank’s long-term presence depends on the continued support and protection of the local community. They noted that the branch will play a vital role in economic recovery, improving financial inclusion, and enabling local businesses and families to safely access banking services without travelling to Wabag or Mt Hagen.
Mr. McTiernan welcomed the reopening, describing it as a major step toward restoring normalcy in Porgera.
“At New Porgera, we don’t just see ourselves as a mine operating within a community—we see ourselves as part of this community. There are many things we want to do to help the community grow, and we believe the reopening of the bank is an important step in that direction,” he said.
Accompanied by District Administrator Jerry Maku, Mr. McTiernan cut the ribbon to officially reopen the branch.
Following the ceremony, community members entered the bank to access services for the first time since its closure.
Local leaders expressed appreciation to BSP, NPL, and all stakeholders for restoring banking services to the valley. Both Mr. Maku and Deputy Governor Philip encouraged the community to value, embrace, and protect this and other essential services.