Graham to chair Kumul Minera

PETER Graham has been appointed as an independent director and the chairman of Kumul Minerals Holdings Limited (formerly Petromin PNG Holdings Limited).
Prime Minister Peter O’Neill said the appointment came at a time when the Government was realising its strategy to restructure and streamline the management of its assets to maximise efficiency and shareholder gain.
O’Neill said he had every confidence in Graham’s, (pictured) leadership and Kumul Minerals would benefit immensely from his experience and knowledge of the extractive industry.
He said Graham was the managing director of Ok Tedi Mining Limited “where he has turned that operation around”.
He was the managing director of ExxonMobil PNG.
Also appointed as independent directors of Kumul Minerals Holdings Limited are Richard Kuna, the president of the Certified Practicing Accountants and lawyer Stanley Liria.
“An appropriate balance of skill and experience is vital for a board in the performance of its oversight functions,” he said.
“The new directors bring a good mix of the necessary attributes required to ensure that the board provides the kind of leadership which will consolidate and develop Kumul Minerals to realise its potential as a world class investment company of the State.
“The immediate focus of Kumul Minerals will be to consolidate the State’s mining interests to build a strong foundation.
“This will enable Kumul Minerals to position itself to take up the State’s equity in the emerging world class projects, particularly the Frieda River and Wafi Golpu projects.”
Managing director Thomas Abe said the management stood ready to work with the board to move the company forward.