Mineral Resources Development Company (MRDC)

The new deal was signed between representatives of Mineral Resources Development Company (MRDC) and a subsidiary of ExxonMobil.

MRDC Managing Director and CEO, Augustine Mano, said this signing unlocks the ability for MRDC to access ExxonMobil’s regional technical experts to help the State address recurring fuel supply issues.

“Building upon our long-standing partnership with ExxonMobil, this agreement will help us to increase the reliability of jet fuel supply in PNG,” Mano said.

When thanking MRDC for the partnership, which will support communication and development studies students, Unitech vice-chancellor, Dr Ora Renagi, said such partnerships are embraced as they prepare students for the outside world.

“We are happy to be providing the training through the department and we are also happy that MRDC, as a company, can come and support the training of the students.

“I’m very proud to say that with this type of relationship, it impresses upon the students to perform.

This will be made possible after launch of Hides PDL 1 Clan Bank Account Opening, Awareness & Consultation at Juni camp Hides in Tari recently. The awareness ends on December 10.

Since March 2022, Mineral Resource Development Company (MRDC) and Gas Resources Hides 4 have paid 277 landowner clans in equity and royalty payments worth K19.6 million.

The beneficiaries of Hides Petroleum Development License 7 taking out their first equity and royalty payments, a total of K19.6 million were paid into the beneficiary clan bank accounts.

PRK Director, Abraham Murepe handed over four 40-horse powered dinghies to a Women, Youth and Church group from Kikori. The groups received one each while the fourth dinghy was earmarked for the general use of the Kikori community.

The groups have approached the government and resource developers operating in the area for assistance in transport, to no avail.

“We have had no support to empower us in our activities,” Kikori District Women’s Council President, Waro Baigei said.

The two-story multi-purpose community hall was built under GRPNGLNGPL its Community Infrastructure Trust Fund (CITF) at a cost of K2.8 million and replaces the old one, which was built 30 years ago. 
It comprises of two large meeting rooms, four offices, a kitchen and restroom facilities. 

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.

This legislation now:

• Allows MRDC to commence the elections of project landowner representative directors on their respective Company Boards, as mandated by their various company constitution and;
• Provides clear arrangements on the appointments of directors on the MRDC Board.

MRDC Managing Director, Augustine Mano said: “This is an important change relating to election of directors of our Trust companies.”

The donated bus will ensure the 600-plus students attending the school are transported safely to their respective provinces when the school’s academic year closes.

The School of Excellence, in Eastern Highlands Province, currently enrolls 40 students from Gobe, in Grades 11 and 12.

Mathew Sisimolu, Chairman of PRG said PRG’s focus is on supporting education.

The modern building is the Mineral Resources Development Company (MRDC) Groups first major investment in Lae.

Gobe Haus is part of the Pacific Property Trust Portfolio (PPT) and was built at a cost of K26.5 million. Over K2.5million of savings was made on the project, demonstrating MRDC’s robust procurement and project management system.

The building features three floors of commercial office space and embodies the MRDC brand, in quality, value and global benchmark in meeting the highest standards.

These include 7000 medical grade face masks and shields, gloves, infrared thermometers, hand sanitisers and disinfectant spray packs