- We have maximized the interest of our resource owners through the establishment of prudent investment policies and practices.
- We have successfully completed the Moran Refinancing Project through a USD15 million facility with Commomwealth Bank of Australia and eliminated the accumulated liability to ensure better returns for our resource owners.
- We have successfully arranged the repayment of the Lihir landowner company loan with the European Investment Bank 10 years ahead of scheduled date, making it a debt free company, now worth of hundreds of millions of Kina.
- We have recently paid K15 million dividend to the People of Papua New Guinea through the State for the 2005 financial year.
- We are proud to support the development of our national athletes so that they are internationally competitive at the 2007 Pacific Games and 2008 Olympic Games. We have committed K5 million to support this cause.
Achievements
So far under the new Leadership and Management since 2004, MRDC has achieved the following milestones:
- We have adopted international best practice as we completed a major review and restructure of our company.
- We have established good governance and transparent management practices through innovative administrative policies and control systems.
- Our Board is experienced in business, stable and focused and providing the leadership security and direction required by management.
- We have a credible, internationally qualified and experienced executive management team.
- We have established a sustained high performance culture through our human resource management policies and practices.
- We have further enhanced the economic development potential of the country through the key role we played for the State in the development and signing of the multi billion Kina Ramu Nickel Project.
