Act amendment passed

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PARLIAMENT yesterday passed the amendment to the Mineral Resources Development Company (Privatisation) Act 1996 which seeks to restructure the entity.
The Bill, presented by Prime Minister James Marape, was to recognise the incorporation of the Mineral Resources Development Company (MRDC) Ltd as an entity that together with its subsidiaries, holds on trust interest in petroleum, mining and unconventional hydrocarbons project for beneficiaries.
Marape told Parliament that the potential to grow into the future was right and the amendments Act would provide the platform to achieve this.
He said the new legislation set out clearly the roles and responsibilities of MRDC, including demarcating between the trustee and the Government.
“It clarifies that MRDC is the trustee shareholder and provider of management services to its subsidiaries,” he said.
“These proposed amendments are necessary for MRDC to comply with the Company’s Act and Security Conditions Act and protect the interest of landowners’ provincial government from future political influence.
“Our people must play an active role in the development of our natural resources that God has blessed us with.
“That is why we are positioning our Kumul Group of companies to play that role in mining, petroleum, fishing and forestry and agriculture as well.
“With this restructure, MRDC is now given the strength and independence necessary to deliver the aspirations of landowners and the participating provincial governments.”
The MRDC was set up in 1975 to manage the State’s participating interest in resource projects in the country.
The State’s interest included interests assigned to landowners and provincial governments.


  • Great.we only politically independent and we are not economically and systematically independent. We need to set up such Strongholds for the betterment of the PNG.Hope to hear more restructural things which will impact PNG for long run…

  • The true meaning of Taking back PNG is first the Fencing (Legislation) in various sectors and the Legislation should tailor and reflective of PNG Participating at the greatest. Petroleum and Gas Law SHOULD BE next concurrently with Mineral or Mining ACT. My cap off PMJM…. right way to go….Change each of these series of Legislation favoring Foreigners… anti-PNG…

  • Great initiative. Greatest ever since the day the mineral resource Act was passed as bill. Way forward to take back PNG.

  • Well done PMJM. Please change all those anti PNG laws and pass new ones that will protect our country’s interests. That is a way forward to take back PNG.

  • I hope this new legislation allows for transparency on how landowners benefits are invested and how MRDC is growing their benefits.

  • Way to go.These reform in the laws will enable us to be economically independent.
    My hat-off to PM.

    May God continue to give him the wisdom to “Take back PNG”.

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