Post-OTML life worries villagers

Business, Main Stories


THE challenge for Mineral Resources Development Corp (MRDC) is to work on life after mine for its member-landowner company (lanco) Mineral Resources Star Mountains (MRSM) Ltd.
While many concerns have been raised by local the people of Western province on what become of their investments through MRSM after 2013, they believe that proper means to manage dividends will be the key to long-term benefits.
Augustine Mano, managing director for MRDC, told the locals on Tuesday in Tabubil the challenge for his board and management was to work on life after the mine closes, together with MRSM.
He was reacting to a question from Mek Binang of Bultan village who challenged MRDC and MRSM to ask the Government for a corporate certificate of the investments that both organisations held in trust on behalf of the people.
“That corporate certificate will be the guarantee because the Government may not acknowledge us after the mine closes,” he said.
Mr Mano also said all MRDC member companies would soon be able to see and know how much they held in investments through MRDC once the annual reports were completed.
He said the reports for 2008 and 2009 were pending.  
The reports go back as far as 2001 and he had been working on them since taking office.
Meanwhile, there are groups currently in Western province,  particularly Tabubil, carrying out consultative workshops with locals regarding OTML’s mine closure plan (effective 2013) alongside plans to extend mine life beyond 2013.