Subsidiaries

Since the transfer of the State equity interest (Eda Oil) to Petromin and withdrawal of Mineral Resource Lihir, MRDC currently holds and manages the following equity interest companies for landowners:
  • Mineral Resources Star Mountains Limited (MRSM) - 2.5% interest in the Giant Ok Tedi Copper Mine for the Ok Tedi Landowners
  • Mineral Resource Ok Tedi No:2 Limited (MROT) - 2.5% interest in Ok Tedi Copper Mine for the Western Provincial Governmen
  • Mineral Resource Enga Limited (MRE) - 5% interest in the World Class Porgera Gold Mine for the local Porgera Landowners and the Enga Provincial Government
  • Petroleum Resources Kutubu Limited (PRK) - 6.75% equity interest in Petroleum Development License 2 (PDL2) for the local people of Kutubu region in the Southern Highlands Province and the Coastal people of Gulf Province through whose land the Crude Oil Pipeline passes.
  • Petroleum Resources Gobe Limited (PRG) - 2.0% equity interest in PDL4 Gobe Oil fields for the local landowners.
  • Petroleum Resources Moran Limited (PRM) - 2.0% interest in PDL5 - Moran Oil Project for the local landowners
  • Mineral Resource Madang Limited (MRM) - 2.5%

Future Interests

With the emergence of the Liquefied Natural Gas Pipeline Project, MRDC is looking forward to taking onboard other new interests in the near future however upon State's approval.

Benefit Structure

Under the MRDC charter it pays dividends and royalties to companies under its management. The current seven companies include only landowner companies. Since 1997 with the inclusion of two (2) State companies Eda Oil Limited and Ramu Nickel Project (transferred to Petromin) and a landowner company Mineral Resource Lihir (withdrawn), more than K400 million has been paid as dividend and royalties.

As trustee, MRDC also undertake social and economical projects for the benefit of the resource owners.

Refer to the following pdf documents for the Benefit Structures

Dividend and Royalty Payments

The table below shows the dividend and royalty payments MRDC made since 1997 up to 31st December 2006 in millions of Kina.

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Total Equity payment made 13.2 7 24.5 36 24.4 18.33 23.3 24.47 42.44 25.47
Total Royalty payment made 0 0 0 0 0 0 3.1 9.44 9.05 35.51


With the statistics depicted in the above table, MRDC has truly proven to be a prudent and performing trustee company. Currently it also has a portfolio worth over a billion Kina diverse portfolio of domestic and international investments.




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