Landowners investment portfolio grows: MRDC

THE Ok Tedi mine landowners’ investment portfolio has seen significant growth in a span of 10 years under the management of the Mineral Resources Development Company (MRDC), the company said in a statement.
MRDC said the Mineral Resources Star Mountain’s (MRSM) investment portfolio now stood at K789 million from K119 million in 2008.
This was revealed to 30 landowner leaders representing the 10 mine villages of Ok Tedi mine during a two-day visit to Port Moresby last week.
The tour was organised by MRSM for an investment briefing.
The significant growth in value was due to an improvement in the Bank South Pacific (BSP) share price, an increase in the unit price for Pacific Property Trust (PPT), and Pacific Balance Fund.
It was also noted that MRSMs’ property portfolio appreciated by K23.14 million while its international portfolio appreciated by K4.69 million through appreciations in share prices on Australian Stock Exchange (ASX) listed equities.
MRSM’s mining interest equity of nine per cent in the Ok Tedi mine also drove this significant growth, aided by a number of new investments including the Star Mountain Plaza project (Hilton).
The landowner leaders stayed at the Hilton Hotel, one of their investments, then toured several real estate and commercial properties owned by MRSM including the MRDC Haus and Pacific MMI building in downtown, Port Moresby.