MRDC is proud to support the Somare family and the East Sepik Provincial Government in hosting Late Great Grand Chief Michael Somare’s Memorial Eve Tribute event today at the Prince Charles Oval in Wewak.
The Late Great Grand Chief had a long and remarkable relationship with the Mineral Resources Development Company (MRDC).
At Independence Somare set up the state-owned company to participate in the development of the mineral resources, and manage and grow the wealth the resource revenue generated.
MRDC has since evolved into an iconic state-owned management company holding landowner interests of its beneficiaries in the PNGLNG Project, the Ok Tedi, Porgera and Ramu Nickel mines and the oil projects of Gobe, Moran and Kurubu.
“We are thankful for Grand Chief Sir Michael Somare’s contributions to the success of the MRDC Group,” said Managing Director, Augustine Mano.
MRDC also manages their investments in banking, aviation, real estate, hotels and resorts, health care, powere generation; and holds equities in listed and unlisted companies. These investments are worth over K6 billion.
He said MRDC will remain a legacy of the founding father’s dream for his people to be economically independent and to enjoy a better life through wise use and management of their wealth.