The Mineral Resources Development Company (MRDC) is a state-owned entity in Papua New Guinea, established to manage equity interests in mining and petroleum projects on behalf of landowners and provincial governments. Through its subsidiaries, MRDC ensures that stakeholders benefit from the nation’s resource wealth.
Key Subsidiaries and Their Shareholdings
- Petroleum Resources Kutubu Ltd (PRK): Holds a 6.75% equity stake and a 2% royalty interest in the Kutubu Oil Project.
- Petroleum Resources Gobe Ltd (PRG): Manages a 2% equity stake and a 2% royalty interest in the Gobe Oil Project.
- Petroleum Resources Moran Ltd (PRM): Oversees a 2% equity stake and a 2% royalty interest in the Moran Oil Project.
- Mineral Resources Star Mountains Ltd (MRSM): Holds a 3.05% equity stake for landowners in the Ok Tedi Mine.
- Mineral Resources Ok Tedi No. 2 Ltd (MROT2): Manages a 3.05% equity stake on behalf of the Fly River Provincial Government in the Ok Tedi Mine.
- Mineral Resources Enga Ltd (MRE): Holds a 5% equity stake for the Enga Provincial Government and landowners in the Porgera Mine.
- Mineral Resources Ramu Ltd (MRR): Manages a 2.5% equity stake in the Ramu Mine.
- Gas Resources PNG LNG Plant Ltd: Oversees a 0.0448% equity stake and a 2% royalty interest in the PNG LNG Project.
- Gas Resources PNG LNG Pipeline Ltd: Holds a 0.0448% equity stake and a 2% royalty interest in the PNG LNG Project.
These subsidiaries are structured to ensure that the benefits from resource projects are equitably distributed among the rightful landowners and provincial governments, promoting sustainable development and economic growth across Papua New Guinea.