Nathan Mosusu

He said there are many instances of MOUs being signed all over the globe as nothing more than as a statement of intention.

He shared the sentiments following the signing of the Wafi-Golpu Joint Venture MOU signing.

After the signing of the WGJV MOU between the project developers and the state there have been numerous statements against the signing.

Garry said an MOU is simply an action plan signed by proponents of a project and should not be legally binding.

“For major projects as such, it's not very unusual.”

Mining Minister, Johnston Tuke, and acting Managing Director of the Mineral Resources Authority (MRA), Nathan Mosusu, said this during royalty payment for the project on Friday, 6^th July.

The royalties totaling K25, 537, 210.13 were paid on behalf of the National Government by Tuke, the landowners and the Madang Provincial Government.

Of the total amount, K17,620,674.99 was paid to landowners and K7,916,535.14 to the Madang Provincial Government.

It was during the payment that Minister Tuke called on them to use their money wisely.

The average mineral revenue between 2013 and 2016 is about     K8.15 billion.

In the National Government’s Medium Development Plan of 2010, the mining industry was challenged to double the country’s mineral receipts by 2030.

In an effort to help achieve that, the Mineral Resources Authority’s Geological Survey Division initiated several geological surveys programs across the country. The objectives of those programs are to update existing mineral occurrence data and obtain new data sets to boost mineral exploration.