Landowner firms important: President

LANDOWNER companies are important as they empower communities economically and provide employment and training to people, according to the PNG Chamber of Mining and Petroleum.
President Gerea Aopi said recently that this would directly benefit families to reduce dependency on royalties.
“Resource companies invest heavily in establishing, and providing necessary governance and administrative support to landowner companies,” he said.
With this ongoing support, Aopi said many landowner companies such as Anitua, Ipili Payala Investments, Trans Wonderland Ltd, Hides Gas Development Corporation, NKW Ltd, Star Mountains Holdings Ltd, and Mineral Resources Star Mountains had been able to grow and diversify their business portfolios and expand to other parts of the country and abroad.
“As a chamber, this is what we would like to see happen with other landowner companies so that they can be sustainable when a mine, or an oil and gas project ends,” he said.
“The diversification of these successful businesses has also helped their communities and their local shareholders gain additional benefits.”