Landowners will be paid: Mano

Business

By SHIRLEY MAULUDU
MINERAL Resources Development Company managing director Augustine Mano says landowners will be paid their benefits once certain processes are carried out following the verification of clan-vetting information.
Petroleum Minister Fabian Pok said yesterday said the clan-vetting exercise had resumed for some areas of the PNG LNG project.
Mano said there were two sorts of benefits for the landowners.
“The royalties are with the Central Bank (Bank of Papua New Guinea) and the equity is with us (MRDC),” he said.
“This process is very critical for us to release both the royalties and equities because ultimately we’ll pay the royalties and equities.
“This clan-vetting exercise can take up to four weeks, depending on the status on the ground. After that, we’ll have a ministerial determination.
“After the ministerial determination, then we will open the accounts. After we open the accounts, then we will have elections of respective directors and chairmen of pipeline and PDL (petroleum development licence) areas. After that, the benefits will be paid.
“It is important that landowners must understand that the same precedent we did with plant site landowners will also be applied to the pipeline and PDL.”
He is hoping that the process would be sorted out before Christmas.
Meanwhile, Pok said following the successful distribution of royalty benefits to the plant site landowners, the department was focusing on the completion of the clan-vetting exercise in the other impact areas.

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