Armed gang raids security convoy carrying gold in one of Papua New Guinea’s biggest robberies

Papua New Guinea police are investigating a gold heist that could rank among the biggest robberies in the country’s history. Armed men intercepted two security vehicles in Port Moresby and escaped with 25 gold bars, 315,000 dollars in cash and firearms.

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It is reported that at around 4:30 this morning two private security vehicles were intercepted by unknown vehicles in Port Moresby.

The convoy was carrying 20 bars from the Porgera Gold Mine in Enga province, operated by New Porgera Limited, and five bars belonging to Lae-based gold buyer and exporter Golden Valley Enterprise Limited. The haul’s exact value remains unconfirmed because police do not yet know the bars’ weight or purity. A standard one-kilogram retail bar can sell for about 200,000 dollars, while a 12.4-kilogram reserve bar can be worth more than 2 million dollars.

The vehicles left their security base shortly after 4:30 a.m. and travelled toward Papua New Guinea’s International Airport along the Poreporena Freeway. Near a roundabout, the lead vehicle encountered what appeared to be a roadblock. When its driver opened the door to ask for passage, a gunman reportedly confronted him. Three more vehicles then moved behind the convoy, cutting off its escape.

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Ten armed assailants held the security crews at gunpoint and proceeded to steal a quantity of gold and cash, as well as firearms.

Nearly 10 armed assailants, some reportedly carrying military-style rifles, forced the security crews from both vehicles and took the gold, money and weapons. Police said no shots were fired and no one was injured. Commissioner David Manning said police had not been alerted to the bullion’s movement before it began. Investigators are interviewing the guards, company management and workers.

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Police had not been alerted to the movement prior to it taking place.