Kumul Minerals Holdings Limited

More beneficiary groups exercise option

The beneficiary groups are from PNG LNG Plant site, PNG LNG Pipeline, PDL 9 – Juha, PDL 4 – Gobe, and the Fly River Provincial Government.

The beneficiary groups will sign the agreement with Kumul Petroleum Holdings Limited Managing Director, Wapu Sonk, in Port Moresby

Sonk announced this week (Tuesday) that the five beneficiary groups expressed interest to sign the agreements for the share transfer documents as well as the vendor note

O’Neill announces Graham as new Kumul Minerals chairman

O’Neill said the appointment comes at a time when the Government is fully realising its strategy to restructure and streamline the management of its assets in order to maximise efficiency and shareholder gain.

“As the trustee shareholder of Kumul Minerals, and on behalf of the State as beneficial shareholder, I have every confidence in the leadership of Mr. Graham,” PM O’Neill said.

“Kumul Minerals will benefit immensely from Mr. Graham’s extensive experience and knowledge of the extractive industry.