The Mineral Resources Development Company (MRDC) was formed in 1975 and is as old as Papua New Guinea itself. Chief Executive Augustine Mano tells Business Advantage PNG that the enterprise has a wide mandate.
Mineral Resources Development Company (MRDC)
Papua New Guinea has participated in its first report to the Extractive Industries Transparency Initiative (EITI), which is a global effort to improve transparency in resource rich countries to help them avoid the so-called ‘resource curse’.
Pacific Marine Industrial Zone construction to start this month, personnel emoluments overruns costing PNG millions, and Newcrest Mining delivers profit. Your weekly digest of the latest business news.
Analysts predict Woodside will up its takeover offer for Oil Search, Business leader estimates K1.5 billion in foreign currency waiting for processing, and NZ re-opens its trade office in Port Moresby. Your weekly digest of the latest business news.
Port Moresby load shedding after shortfall in generation capacity, NRL rights deal kicks Telikom’s purchase of EMTV into touch, Eastern Highlands coffee producers may switch to robusta. Your weekly digest of the latest business news.
Treasury says Deficit rises to 9.4% of GDP, foreign advisers ban, and parliament passes Sovereign Wealth Fund bill. Your weekly digest of the latest business news.
Share buyback and recapitalisation at Airlines PNG, lucrative tuna deal signed with United States, and Digicel in talks over buying shares in EMTV. Your weekly digest of the latest business news.
A new board member at Kina Petroleum, a new chairman of the Mineral Resources Development Corp., and other new appointments.
Papua New Guinea’s Prime Minister, Peter O’Neill, has confirmed the government will restructure the country’s interests in oil, gas and mining resources into two separate mining and petroleum companies. All other state-owned enterprises will be absorbed into a third holding company.