Buying gold and silver in Papua New Guinea (PNG) can be done through various channels, including local dealers, banks, and international brokers. Here’s a step-by-step guide:
1. Local Gold & Silver Dealers
– Gold Dealers in Port Moresby & Lae: Some licensed dealers buy and sell gold, especially since PNG has active gold mining (e.g., Porgera, Lihir).
– Examples:
– PNG Gold Buyers (check local listings)
– Jewellery Stores (some sell investment-grade gold/silver)
– Verify Legitimacy: Ensure the dealer is licensed by the Bank of Papua New Guinea (BPNG) or the Mineral Resources Authority (MRA).
2. Banks & Financial Institutions
– Some banks in PNG may offer gold coins or bars for investment.
– Bank South Pacific (BSP) – May have gold-linked products.
– Kina Bank – Occasionally offers precious metals.
3. Mining Companies & Refiners
– If you want larger quantities, contact:
– Porgera Joint Venture (Barrick Gold/NZM)
– Lihir Gold Mine (Newcrest Mining)
– Local refiners who sell gold bars.
.jpg)
4. International Bullion Dealers (Online)
– Reputable online dealers ship to PNG:
– Perth Mint (Australia) – Ships gold/silver bars/coins.
– BullionStar (Singapore) – Good for secure delivery.
– APMEX/JM Bullion – Check if they deliver to PNG.
– *Note*: Import taxes and customs fees may apply.
.jpg)
5. Gold Buying from Artisanal Miners
– In rural areas, small-scale miners sell raw gold, but:
– Ensure it’s legally sourced (avoid “blood gold”).
– Get proper documentation to avoid legal issues.
6. Silver Purchases
– Silver is less common than gold but can be bought from:
– Some jewellery stores in major cities.
– Online dealers like Perth Mint or Silver Bullion Singapore.
Legal & Tax Considerations
– The Bank of PNG regulates gold exports; private ownership is allowed but must comply with laws.
– Declare large purchases to avoid smuggling accusations.
– VAT/GST may apply on silver purchases.