Papua New Guinea resource owners can now use a newly established local resources company, to liaise on their behalf in terms of managing their resources wisely for maximum benefit.
It recently received just over K23 million to purchase 11 office units at the new Koki waterfront office complex area and another cheque of K10 billion for its restoration programs.
This means that resource owners don’t have to turn to government to do their offshore bidding for them but can allow the PNG Cultural Resource Incorporation Limited to negotiate on their behalf directly linking resource owners and investors on a single platform.
PNGCRIL would also help establish resource owners’ agreements, giving them valuable direction and advise on proper resource management for the possible maximum benefit of their people, economically and spiritually.
Chairman, Sane Gao has said for far too long, resource owners have been played down in many of the government driven projects and have not been given what they rightfully deserve.
Gao said as part of the company’s functions under global trade and investment, it has signed three agreements, the first MOU is with Israel which specifically encompasses the spiritual covenant already established.
They will also provide their expertise on agricultural techniques and extracting energy resources.
PNGCRIL has also signed an MOU with a Chinese company, which has the technology to utilize left over mining rocks converting them to building materials.
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