Armed men seize 25 gold bars and cash in Port Moresby convoy hold-up
Police in Papua New Guinea are probing a early-morning hold-up in Port Moresby where ten gunmen stopped two security vehicles and walked away with 25 gold bars and about $315,000 in cash.
In the pre-dawn hours of Wednesday, two cash-in-transit vehicles carrying gold from the Porgera Mine and Golden Valley Enterprise were stopped on a staged roadblock in Port Moresby. Ten gunmen, some wielding military-style rifles, forced the security crews at gunpoint, confiscated 20 gold bars from New Porgera Limited, five bars from Golden Valley Enterprise, $315,000 in cash, a pump-action shotgun and a carbine, then fled without firing a shot.
Police Commissioner David Manning confirmed a major investigation, noting that authorities had not been warned about the movement and that several procedural shortcomings were evident. Deputy Commissioner Donald Yamasombi is overseeing the probe, which recalls the large-scale robberies linked to William Kapris in the past. At least four suspects are being questioned as investigators work to recover the stolen assets.
Why it matters
The theft highlights vulnerabilities in high-value cargo security and could impact confidence in PNG's mining sector.
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