A resource landowner group in Western Province had thanked the National Government for giving them shares in the giant OK Tedi Mine.
“This is a first of its kind hence, an announcement of historical significance to the landowners and the people of Western Province and Papua New Guinea as a whole,” Mineral resources Star Mountains Limited (MRSM) chairman Bill Menim said.
“The Board of Directors of MRSM, representing the 10 landowning villages around the Ok Tedi Mine would like to thank the Prime Minister Peter O’Neill for the decision made to offload its 33% equity shares in the Ok Tedi Limited to the respective landowners and the people of Western Province.
“We encourage our people to leave all differences aside, take this opportunity from the government and work hand in hand for the benefit of our people and our children of Star Mountain,” Menim said.
Prime Minister Peter O’Neill in a statement in Parliament last week announced the National Executive Council decision to transfer 33 percent of OK Tedi equity to the people of Western Province – inclusive of landowners, mine impacted villagers and the provincial government.
“Now it is for the people of Western Province to come to agreement on ownership arrangements.
“While this is being determined, cabinet has agreed that the shares will be held in trust by MRDC,” O’Neill said.
The current mine assets are at $US3 billion (K9.74 billion).