MRL plans to invest 20 per cent of landowners’ funds

MINERAL Resource Lihir Capital (MRLC) Limited conducted awareness to the six major clans of the Lihir Mining Area Landowner Association to invest 20 per cent retained by MRL to Lihir Investment Fund (LIF) so it gains more interest over time.
MRL beneficiary and stakeholder engagement manager Aileen Maradangoi said this follows LIF’s launching last week, the beneficiaries will buy units individually or as a group then invest in LIF, which is a low-risk investment.
“When paying out the annual distribution for beneficiaries that have their 20 per cent retained by MRL and agreed for MRL to invest on their behalf will be transferred to LIF,” she said.
She said the beneficiaries were given forms to fill, whether they agreed to invest with LIF or have their 20 per cent paid to their accounts and were also given statements of their 20 per cent balance. Those who agree will be issued a certificate, about 86 beneficiaries in ward three agreed to invest with LIF.The rollout will continue next month covering all 15 wards of about 600 beneficiaries.
“Over time, after profit accumulates and the audit is completed will pay 50 per cent dividend to the beneficiaries and the other 50 per cent will be retained for investment.” Maradangoi said that the beneficiaries could also access their savings using an online application using their identification numbers.