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The Vanuatu government says it remains committed to rebuilding national carrier Air Vanuatu but warned that future financial support for the airline must be accompanied by major structural reforms to prevent further losses. The issue was raised during oral questions in the first ordinary session of the 2026 Parliament after Malekula Member of Parliament Hymak Anatole questioned the staffing status of Air Vanuatu and called on the government to complete the airline’s restructuring process following liquidation. Responding in Parliament, Deputy Prime Minister and Finance Minister Johnny Koanapo said Air Vanuatu was gradually rebuilding under a new board after “starting from almost nothing.” “Some progress is happening at our level as a company, especially with the new board that came in, and we are trying to restore the company from almost nothing,” Koanapo said. The minister acknowledged that the airline requires a significant capital injection from the government but said authorities remain cautious after years of heavy public spending on the carrier. “We spent a lot of taxpayers’ money on the company and then found out that the structure of the company was too heavy from top to bottom,” he said. Koanapo said Air Vanuatu had 170 permanent employees as of December 2025, although the government was still assessing whether current staffing levels were appropriate given the airline’s limited operations. At present, the carrier is primarily operating domestic services and does not yet have international aircraft in operation. The minister said the government was exploring options to rebuild the airline’s fleet and assets, including expansion of domestic aircraft capacity. “Today we have Twin Otters, and one more is coming next month as announced by the Prime Minister. We also have the ATR, which is still on lease,” he said. Koanapo said improvements had already been seen in operational performance and staff morale, including reductions in flight delays. However, he confirmed that the airline continues to post substantial financial losses. “If you look at the financial statement of the company from 2024 to 2025, it does not make any profit; it makes a big loss,” he said. The minister revealed that the government had already provided VT1.1 billion to cover aircraft-related obligations and said additional capital would still be required to revive the airline. “Apart from that, today Air Vanuatu needs a capital injection, and for us to resurrect the airline, we need a capital injection,” he said. Koanapo added that the government did not want to continue injecting funds into the airline without broader changes to the company’s structure and operations. On international operations, the deputy prime minister confirmed that the International Air Transport Association, or IATA, was in the process of restoring Air Vanuatu’s “NF” airline code, which would support future codeshare agreements and international partnerships. “We have to be optimistic about the future of Air Vanuatu. We will not let go of Air Vanuatu,” he said. Koanapo also confirmed that the government continues to negotiate with Airbus regarding the VT2 billion Airbus matter involving the airline. He said a recent delegation visited Airbus headquarters in Toulouse, where discussions were held on legal and contractual issues linked to the aircraft agreement. According to Koanapo, Airbus requested that negotiations continue privately through its Singapore office, with another round of discussions expected before the end of the year as the government works to restore Air Vanuatu’s international services.

Kalo Gold Corp. says it has completed almost half of a high-resolution airborne magnetic survey at its Vatu Aurum gold project in Fiji, as the company advances exploration targeting across the 367 square kilometre project area on Vanua Levu. The company said 2,764 line-kilometres of the planned 6,212 line-kilometre heli-magnetic survey had been completed as of April 29, with 3,448 line-kilometres remaining. The survey is being flown at 100-metre line spacing, with tighter 50-metre spacing planned over priority target areas to improve structural and geological interpretation across the project. Kalo Gold said favourable weather conditions had supported productive daily flights, with operations focusing on completing tighter grid coverage where conditions allow. The survey is being conducted using a helicopter-mounted tri-sensor magnetometer system capable of collecting total magnetic intensity and horizontal gradient data to better identify subtle structural features and geological contacts. The company expects the remaining survey work to be completed in the coming days, subject to operating conditions and final line spacing requirements. Kalo Gold said the airborne magnetic program forms a key part of its exploration strategy at Vatu Aurum and is expected to improve understanding of the project’s structural framework. The survey aims to support the identification of fault systems and structural corridors, mapping of intrusive bodies and alteration zones, and refinement of drill targets across the Aurum Prime and Wainikoro prospects. Final processed datasets, including magnetic intensity data and geophysical grids, will be integrated with existing geological and geochemical information to support future exploration targeting. The technical information in the update was prepared and approved by Andrew Randell, principal geoscientist of SGDS-Hive and technical director of the Vatu Aurum Project. Kalo Gold is focused on advancing low-sulphidation epithermal gold targets across a northeast-trending corridor extending from Matailabasa to Nayaroyaro on Vanua Levu. The company said previous exploration, including drilling, trenching and soil geochemistry, has identified multiple structurally controlled gold targets across the project.

Fiji’s fuel supply remains stable despite mounting global price pressures, with the government moving to cushion households and key sectors from rising costs, Prime Minister Sitiveni Rabuka said. In a national address, Rabuka said Fiji currently holds about 45 million litres of fuel in onshore storage, with a further 22 million litres expected before the end of April, bringing total supply for the month to roughly 67 million litres. Daily consumption stands at about 2.5 million litres. He said stock levels are projected to fall to around 40 million litres, or 29 percent of storage capacity, by month-end — a normal cycle to accommodate incoming shipments. Looking ahead, suppliers have committed to deliver about 118 million litres in May, which is expected to lift national reserves to more than half of total capacity, keeping the country in what authorities classify as a “Phase 1” or normal supply condition. Rabuka stressed that Fiji is not facing a supply shortage but rather a price-driven challenge linked to global market disruptions, including tensions in the Middle East and shipping constraints around the Strait of Hormuz. Domestic price adjustments, he noted, are determined by the Fijian Competition and Consumer Commission to reflect international purchasing costs, with another increase expected in May. To mitigate the impact, Cabinet has approved the redeployment of FJ$56 million within the existing 2025–2026 budget, shifting funds from delayed projects to immediate relief measures. The government has earmarked FJ$4 million to support bus operators, including absorbing a 10 percent fare increase for four months and providing a fuel rebate of 20 cents per litre to maintain affordable public transport. Fuel subsidies will also be extended to power utility Energy Fiji Limited to ensure stable electricity generation, while social welfare recipients will receive a temporary 50 percent top-up for three months starting May. In the agricultural sector, FJ$28 million has been allocated to support sugar cane farmers through a price top-up for the 2025 crop season. Rabuka said all measures will be funded through internal budget savings, alongside cost-cutting directives across government agencies. “Fuel is available. Government is acting. And Fiji is prepared,” he said, urging citizens to conserve fuel and energy amid ongoing global uncertainty.

Cook Islands Prime Minister Mark Brown has called for greater financial support for Pacific renewable energy transitions, describing the shift away from imported fuel as an economic security strategy rather than a climate concession. Speaking at the 59th Annual Meeting of the Asian Development Bank, or ADB, in Samarkand, Brown said Pacific Island countries remain highly exposed to global fuel price shocks and supply disruptions due to dependence on imported energy. “The Pacific energy transition is not a climate concession. It is an economic security strategy. The same investments that lower our emissions also lower our exposure to the next global shock,” Brown said in his Governor’s Statement. Brown said the Cook Islands was working closely with the ADB on financing solutions aimed at strengthening energy security and accelerating renewable energy development across Pacific Island countries. “The Cook Islands is working closely with the ADB on financial solutions that support security of supply for Pacific Island countries, and that fast-track our energy transition to renewables,” he said. The prime minister said the financing initiatives would support renewable energy projects across the Pa Enua, including solar farms, battery storage systems and electricity grid upgrades aimed at reducing long-term reliance on imported fuel. Brown also highlighted domestic conservation measures currently underway in the Cook Islands, including coordination work led by the Energy Response Technical Working Group involving government agencies, the tourism sector and communities. “Conservation is a real lever. Every litre saved is fuel for our hospital, our schools, our airports,” he said. During the meeting, Brown urged the ADB to expand innovative financing tools for Pacific small island developing states, including blended finance, climate-linked financing mechanisms and local currency debt conversion measures to reduce exposure to foreign exchange risks. He said concessional financing access for Pacific states should continue to reflect vulnerability to economic and climate shocks rather than income levels alone. “Graduation thresholds were not designed for economies that can lose a year of gross domestic product in a single cyclone, or absorb a global energy shock with no domestic substitute,” Brown said. Brown also welcomed the ADB’s developing work on critical minerals and called for Pacific small island states to be actively included in related initiatives. The prime minister said the Cook Islands currently generates just over 30 percent of its electricity from renewable energy sources and aims to increase that figure to 60 percent by 2030. “We will use this period to push our renewable energy goals harder, not slower,” Brown said.

The Solomon Islands government has officially launched a five-year Japan-backed agricultural research project aimed at strengthening national food security through improved sweet potato production systems and seedling management. The Ministry of Agriculture and Livestock Development, or MALD, last week welcomed Japanese researchers and partner institutions to Honiara to commence activities under the SATREPS project titled “Implementation of a Comprehensive Sweet Potato Seedling Management System for National Food Security.” The initiative forms part of the Science and Technology Research Partnership for Sustainable Development, or SATREPS, program, a Japanese government-supported framework promoting international joint research to address global challenges. The project is funded through the Japan International Cooperation Agency, or JICA, and the SATREPS program, with implementation scheduled from April 2025 to March 2030. MALD officials met representatives from Japanese research institutions including the University of Tokyo, Tokai University and the National Agriculture and Food Research Organization to finalize implementation arrangements and discuss collaborative research activities. The project will be jointly implemented by MALD and Solomon Islands National University alongside the Japanese partner institutions. A Collaborative Research Agreement between MALD and the University of Tokyo was signed in Honiara on March 2, 2026, formalizing research cooperation arrangements between the institutions. Project implementation officially commenced on May 17 following the arrival of Japanese researchers in Honiara. MALD officials said the partnership would support the government’s efforts to strengthen food security and improve agricultural productivity across the Solomon Islands. Sweet potato remains one of the country’s key staple crops, particularly among rural communities, making the project strategically important for national food supply and rural livelihoods. Researchers involved in the project will focus on improving seedling management systems, pest control measures, cultivation practices, genetic resource research and the development of certified virus-free seedlings. The visiting Japanese delegation also toured several agricultural research and production facilities including the Tenaru Field Experiment Station, MAL Henderson Crop Health Research laboratories, KG Farm and Kastom Garden. Discussions during the visits focused on field research activities and future collaboration opportunities under the program. MALD said a project coordinator and an in-country researcher are expected to arrive in June or July to support ongoing implementation and coordination activities in Honiara. Procurement activities under the project are also set to begin, including the acquisition of tractors, tillage equipment and related farm machinery. The project will also support establishment of a tissue culture laboratory and associated facilities, as well as the construction of net houses for planting materials research and production. As part of the partnership, four MALD research staff members will travel to Japan from July 8 to 15 for technical training linked to project outputs. Additional training and capacity-building activities are expected to take place in both Japan and the Solomon Islands throughout the duration of the project. MALD said the initiative is expected to strengthen national food security, enhance agricultural research capacity and support long-term agricultural development in the Solomon Islands.

The government of New Caledonia and the French Development Agency have signed an agreement to finance a strategic study aimed at strengthening and structuring the territory’s social and solidarity economy sector following economic disruption linked to the May 2024 unrest. The initiative was presented by Naïa Wateou alongside representatives of the French Development Agency, commonly known as AFD. Officials said the study would help establish a clearer framework for the development of the social and solidarity economy, or SSE, which includes organisations such as cooperatives, associations, mutual societies, foundations and socially oriented enterprises prioritising social and environmental outcomes alongside economic activity. Authorities described the sector as an important tool for improving resilience, strengthening social cohesion and supporting inclusive economic recovery in New Caledonia after the social and economic impacts of the events of May 2024. The initiative follows the adoption of country law No. 2025-13 on August 18, 2025, which formally established a regulatory framework for the social and solidarity economy in the territory. The legislation defines the sector around principles including social utility, democratic governance and regulated profit management. Wateou said the new study would provide government with the operational tools and updated data needed to better identify and support SSE actors across the territory. “Without a regulatory framework, we have no way of recognising the actors in the social and solidarity economy,” Wateou said. The study mission, financed by AFD for nearly 7.5 million CFP francs, will include mapping and inventory work on the SSE sector, assessment of funding access conditions and analysis of sector support needs, including governance, project engineering and economic model sustainability. The project will also examine opportunities for accessing public, national and international financing and develop recommendations for a long-term territorial strategy for the sector’s development. Julie Doiteau said the agency considered it important to support local authorities in strengthening the sector. “For the AFD, it was natural to support the government and its partners in carrying out this study,” Doiteau said, describing the initiative as a step toward addressing challenges faced by SSE organisations in the territory. Officials said the agreement would help lay the foundation for a more structured and sustainable development pathway for social and solidarity economy activities in New Caledonia.

The Pacific Tourism Organisation has selected Fiji as the host of the South Pacific Tourism Exchange, or SPTE, in 2027 following a vote by the organisation’s Board of Directors during a meeting in Nadi last week. The decision came after the board considered expressions of interest from Fiji and Tahiti Tourisme to host the Pacific region’s flagship tourism trade event. According to the SPTO, the board approved in principle Fiji as the venue for SPTE 2027 and directed the organisation’s secretariat to continue engagement with Fiji on final arrangements. The outcome reinforces Fiji’s standing as a regional tourism hub and reflects industry confidence in the country’s ability to stage one of the Pacific’s largest tourism business events. SPTE is regarded as the Pacific’s leading tourism marketplace, bringing together international buyers, tourism operators and national tourism offices from across the region. The annual event is aimed at strengthening partnerships, expanding visitor demand and generating business opportunities for Pacific tourism stakeholders. SPTO Chief Executive Officer Christopher Cocker said the board’s decision highlighted Fiji’s continued leadership in regional tourism development. “SPTE is one of the Pacific’s most important tourism platforms, and Fiji has consistently demonstrated its capability to host high-quality regional events that deliver real value to the tourism industry,” Cocker said. “The Board recognised Fiji’s strong commitment to the current SPTE structure and its ongoing support for regional tourism collaboration. Hosting SPTE 2027 will provide another important opportunity to showcase not only Fiji, but the wider Pacific tourism product to international markets,” he added. The board also acknowledged Fiji’s support for the current arrangement of holding the Fiji Tourism Exchange, or FTE, alongside SPTE, noting the operational and commercial benefits the format provides to tourism operators and international buyers. During discussions, Fiji also proposed that if SPTE is hosted elsewhere in future years, the event should subsequently return to Fiji for the following two consecutive years, reflecting the country’s long-term commitment to regional tourism growth. The announcement comes as Pacific tourism operators continue efforts to strengthen post-pandemic recovery, improve market visibility and deepen regional cooperation. Further details on SPTE 2027, including dates and programme arrangements, are expected to be confirmed following consultations between SPTO and Tourism Fiji.

  Since being signed in October 2025, the ‘U.S.-Australia Framework for Securing Supply in the Mining and Processing of Critical Minerals and Rare Earths’ (“Framework”) has gained momentum against the backdrop of intensifying global competition for strategic resources. The initiative reflects a broader structural shift: critical minerals are no longer simply commodities, but are increasingly becoming instruments of economic security, industrial policy and geopolitical leverage. At its core, the Framework seeks to integrate two resource-rich, politically aligned jurisdictions into a more resilient supply chain for minerals essential to defence systems, semiconductors, electric vehicles and clean energy infrastructure. It aims to do so by incentivising cross-border investment, accelerating permitting and facilitating preferential offtake arrangements. From a policy standpoint, the Framework aligns with parallel efforts such as the U.S. Inflation Reduction Act and Australia’s Critical Minerals Strategy, each designed to reduce dependence on concentrated supply sources and to “friend-shore” production capacity. In practical terms, the Framework may unlock access to U.S. government-backed financing, including through the Export-Import Bank of the U.S. and the U.S. Department of Defense’s industrial base programmes, materially improving project bankability. For developers and investors, this signals opportunity. However, history — and recent arbitration trends in the mining sector — suggest a more complex reality: geopolitical stability at the macro level often masks heightened instability at the project level. Indeed, the acceleration of capital deployment, compressed development timelines and increasing politicisation of resource allocation are all well-established catalysts for disputes. Where disputes are likely to emerge 1. Native title and land access pressures A significant proportion of Australia’s critical mineral deposits are located on or near land subject to Indigenous rights and cultural heritage protections. The consultation and consent requirements under the Native Title Act 1993 are rigorous, and for good reason. However, where projects are fast-tracked under strategic imperatives, tensions inevitably arise. Recent experience across the mining sector shows that insufficient consultation or procedural shortcuts can trigger injunctions, heritage disputes and long-tail reputational harm. From a disputes perspective, these conflicts are increasingly hybrid, combining domestic administrative litigation with contractual and investor-State dimensions. 2. Joint venture and offtake fragility in volatile markets Critical minerals projects are capital-intensive and often structured through complex joint ventures and long-term offtake agreements. These arrangements are particularly vulnerable in environments of price volatility and shifting policy incentives. As seen in lithium and rare earth markets over the past five years, divergence between contracted prices and spot markets can become extreme. This creates fertile ground for disputes over: • price review and hardship clauses**;** • force majeure and “change in law” provisions**; and** • operator control and capital allocation decisions. Where projects are strategically significant, these disputes may escalate quickly, with broader political or regulatory implications. 3. Regulatory complexity and judicialisation of approvals Australia’s regulatory landscape, spanning federal regimes such as the Foreign Acquisitions and Takeovers Act and a patchwork of state-based mining and environmental laws, remains inherently complex. The addition of a “strategic project” designation does not eliminate this complexity; it may, in fact, intensify scrutiny. Third parties, including environmental NGOs and local communities, are increasingly sophisticated and willing to challenge approvals through judicial review mechanisms. This trend mirrors developments in other jurisdictions, where expedited approvals tied to energy transition goals have been successfully contested, delaying projects and increasing costs. 4. Export controls and sovereign reallocation risk The Framework itself is non-binding and operates within a fluid geopolitical environment. Export controls, domestic reservation policies or shifts in alliance priorities can materially alter the commercial assumptions underpinning a project. Investors structuring projects around anticipated U.S. demand or preferential access may face realignment risk if political priorities shift. This raises complex questions around: • stabilisation clauses**;** • sovereign interference**; and** • potential recourse under investment treaties. Recent ISDS jurisprudence demonstrates that resource nationalism, particularly in strategic sectors, continues to generate high-value claims, often centred on indirect expropriation and fair and equitable treatment standards. A structural observation: ESG as shield and sword An emerging dynamic worth highlighting is the dual role of ESG considerations. On the one hand, ESG compliance is increasingly positioned as a prerequisite for access to financing and market entry under frameworks like this one. On the other, ESG obligations are being invoked by States as a regulatory justification in disputes. This creates a paradox: ESG can operate both as a shield for States and as a sword for claimants, particularly where regulatory measures are inconsistent, disproportionate or applied retrospectively. Conclusion: Strategic alignment, legal complexity The U.S.-Australia Framework represents a sophisticated attempt to align industrial policy with geopolitical realities. It will likely accelerate investment and unlock significant value across the critical minerals supply chain. But for project developers, investors and financiers, the key takeaway is clear: the risk profile is evolving, not diminishing. Careful attention must be paid to: • contractual risk allocation (particularly around price, force majeure and regulatory change); • dispute resolution mechanisms (including the selection of the arbitral seat, governing law and enforcement strategy); and • the interaction between domestic regulatory frameworks and international investment protections. For project developers, investors, offtake counterparties and financiers active in Australia’s and/or the US’s critical minerals sectors, careful attention should be given to contractual terms in light of the rapidly changing regulatory environment which, in some respects concerning the Framework, remains undefined. In short, the next phase of the critical minerals boom will not only be defined by “big deals”, but also by increasingly complex, high-stakes disputes.   Ryan Cable, Partner (Brisbane), and Diora Ziyaeva, Partner and U.S. Region Co-Lead in Mining and Natural Resources (New York), are members of Dentons’ global International Arbitration and Investment Treaty Arbitration groups. They advise clients across the mining, energy and infrastructure sectors on project development, joint ventures, dispute resolution and regulatory compliance.

Westpac is making a significant investment in strengthening leadership capability across its Pacific businesses with the rollout of its best-in-class LEAD program in Papua New Guinea and Fiji this year, delivering training to 120 employees across the two markets. LEAD is Westpac Group’s flagship leadership development program focused on building future-ready leaders through experiential learning, coaching, and strategic capability uplift. The LEAD program is designed to build practical leadership capability, equipping participants with the skills, confidence, and mindset required to lead teams, support customers, and contribute to Westpac’s long-term success in the Pacific. The program will be delivered through in-person training sessions supported by online modules, ensuring the learning is relevant, grounded in local context, and immediately applicable in day-to-day roles. By delivering the program locally, Westpac is enabling participants to learn alongside peers, strengthen networks across the business, and apply leadership learning directly within their teams and communities. The world-class format also supports deeper engagement, discussion, and reflection, reinforcing Westpac’s commitment to investing in meaningful, high-quality development experiences for its people. The program covers: • Leading Self – building self-awareness, confidence, and personal leadership effectiveness • Leading Others – developing strong people leadership, communication, and coaching skills • Strategic Thinking – strengthening decision-making and broader business understanding • Leading Change – equipping leaders to navigate change and lead with agility • Customer & Outcome Focus – linking leadership behaviors to customer and business outcomes • Pacific Context Application – applying leadership skills in real-world PNG and Fiji settings Maria Stefanac, Head of People, Pacific, said the LEAD program represents a significant investment in Westpac’s Pacific workforce. “LEAD is a major investment in our people in Papua New Guinea and Fiji. We know that strong leadership is critical to creating a positive culture, delivering for our customers, and building a sustainable business for the future,” Stefanac said. “This program has been designed to support our people to grow as leaders, build confidence in leading others, and develop skills they can apply immediately in their roles. By having Westpac Group trainers deliver the program here in the Pacific, we’re ensuring our leaders benefit from global expertise while learning in a way that is relevant, practical, and grounded in local context," she added. Stefanac said the program also reflects Westpac’s broader commitment to developing talent from within and creating clear pathways for growth and progression. “Investing in leadership capability is an investment in our future. Through LEAD, we are supporting our people to step into leadership roles, strengthen their impact, and continue to serve our customers and communities with confidence," Stefanac said. Westpac Banking Corporation ABN 33 007 457 141. The liability of its members is limited. Westpac is represented in Papua New Guinea by Westpac Bank - PNG - Limited. The LEAD program forms part of Westpac’s ongoing focus on capability building and people development across the Pacific, recognizing that empowered, well-supported leaders play a critical role in driving strong performance, engagement, and customer outcomes. By continuing to invest in programs such as LEAD, Westpac is reinforcing its long-term commitment to its people in Papua New Guinea and Fiji and to building leadership capability that supports sustainable growth across the region.

Matthew Cooper Wale has been elected Prime Minister of Solomon Islands after securing majority support in a parliamentary vote held on Friday following the removal of the previous government through a motion of no confidence. Wale, Member of Parliament for Aoke/Langalanga Constituency and former opposition leader, defeated Peter Shanel Agovaka by 26 votes to 22 in a secret ballot conducted at Parliament House. Of the 50 members of parliament, 49 ballots were cast, with one member absent and one ballot declared spoilt. The result was formally declared by Sir David Tiva Kapu, Governor-General of Solomon Islands, following recent political developments that culminated in the successful motion of no confidence that vacated the office of prime minister. Wale’s election marks a significant political shift in Solomon Islands, where he has emerged over recent years as one of the country’s most prominent advocates for governance reform, accountability and anti-corruption measures. Born on 13 June 1968, Wale has represented Aoke/Langalanga Constituency since first entering parliament in a 2008 by-election following the death of former prime minister Bartholomew Ulufa'alu. He later served as education minister under former prime minister Derek Sikua, where he championed free basic education, expansion of tertiary education opportunities and the establishment of a national university. Following the 2019 national election, Wale became opposition leader and was widely recognised for pushing governance reforms and transparency measures. During the civil unrest in Solomon Islands in 2021, Wale publicly called for the resignation of then prime minister Manasseh Sogavare and filed a motion of no confidence against the government, although the motion was defeated at the time. He again contested the prime ministership after the 2024 national election but lost to Jeremiah Manele, who secured 31 votes against Wale’s 18. In 2025, Wale was appointed Commander of the Order of the British Empire in recognition of his political and public service. Before entering politics, Wale was involved in civil society advocacy, peacebuilding initiatives during the ethnic tensions period and governance policy work in Solomon Islands. Consultations on the formation of a new government and cabinet appointments are expected to continue in the coming days.