Resources & Investment Finance Limited has set out to reinvent the way miners finance their equipment in PNG.
Papua New Guinea (PNG)-owned Resources & Investment Finance Limited (RIFL) is committed to ensuring the nation’s mining industry is prepared for the future.
The company knows mining equipment doesn’t come cheap – and that’s why it provides the sector with financing on which it can rely, backed by a healthy dose of local expertise.
“RIFL’s set-up is similar to a niche market setting,” RIFL operations manager Margaret Morre told PNG Mining.
“Apart from consumer loans, our target markets are the landowner companies [companies owned by people who live around mines] together with road contractors and other transportation companies in between.”
Russell Evans joined RIFL as its general manager – business development in April. Although he has only been with the company for a short time, he can already see the difference in the way RIFL operates.
“Being a licensed financial institution governed by the Bank of Papua New Guinea (BPNG), RIFL stands out by offering flexible financial solutions tailored to the unique challenges of businesses in PNG, especially in fields like mining,” Evans told PNG Mining.
“Our understanding of the cultural and business landscape sets us apart from larger banks.”
A future-focused company, RIFL is constantly expanding its services to support PNG’s key industries of mining, agriculture and infrastructure.
“RIFL has the potential to grow and we hope to become a household name in the next 10 years by growing our client base and expanding into other major centres like Lae, Mt Hagen, Rabaul, Madang and Goroka,” Morre said.
Evans said RIFL will continue to focus on supporting the larger PNG mining sector as it grows.
“While working directly with the mines would be ideal, our focus is on supporting the suppliers and service providers that keep the industry running,” he said. “We offer tailored equipment and working capital finance to help them manage cash flow and access essential resources quickly.”
From a taxation perspective, if a mining asset is used for business purposes, that means businesses can claim the interest charged on the loan and the depreciation of the asset against their pre-tax earnings.
If a business is registered for GST (goods and services tax), customers can claim back the GST on the tax invoiced price of the goods financed.
And if a client needs a flexible arrangement, RIFL can tailor its loan agreements to meet a range of cash flow requirements, with most asset classes covered under RIFL agreements, including trucks and other mining equipment.
As a licensed financial institution, RIFL also offers interest-bearing deposits, which means the company can offer and accept deposits from the public, as well as from private and public institutions like insurance companies and superannuation funds.
The work RIFL does is backed up by its dedicated team, many of whom began work at RIFL to make a genuine difference.
“One of the main reasons I joined RIFL was to bring my skills and experience in banking to help improve the way we do business,” Morre said.
For Evans, the new role offers him the chance to give back to PNG.
“It was my time working in PNG with cocoa in Madang and Lae that sparked my passion for the region,” he said. “While back in Australia, I realised the depth of my commitment to PNG, and RIFL has offered the perfect opportunity for me to contribute to building PNG’s growth.”
In the future, RIFL will also be encouraging retirees in public and private spheres to explore the option of long-term deposits with strong interest rates that would pay monthly interest similar to a pension.
“It’s not just about providing financial services for RIFL; it’s about being a true partner to businesses navigating this dynamic market,” Evans said.
“For me personally, working in PNG has given me a deep appreciation of the unique challenges and the opportunities that businesses face here.”
This feature appeared in the June–July 2025 issue of PNG Mining.
