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Investment Portfolio

Investment portfolio

Landowner investments are central to MRDC’s mission of creating sustainable wealth and opportunities for Papua New Guinea’s resource owners. A key part of this role is managing investments for trustee companies by providing sound investment advice to their respective boards. MRDC actively seeks strategic investment opportunities that drive capital growth while ensuring a sustainable and consistent flow of income for shareholders. To guide these efforts, MRDC follows a robust Investment Policy that outlines the strategies employed to meet the objectives of its subsidiaries. The policy’s main goal is to maximize returns on investments while providing a steady income for beneficiaries into the future. Through transparent management, comprehensive reporting, shareholding updates, dividend distributions, and engagement in annual general meetings, MRDC remains committed to delivering long-term value and fostering economic empowerment for its stakeholders.

The US$2.1bn world class Ramu nickel project that integrates mining, beneficiation and refining is located near Madang, on the north coast of PNG. It is one of the largest and most ambitious mining and processing projects to have been successfully brought into production in PNG. It is composed of laterite open-pit mining, 135km slurry pipeline, high pressure acid leaching, deep sea tailings placement (DSTP) as well as a number of supporting facilities. The Project produces nickel/cobalt intermediate product, in which the aggregate nickel metal accounts for 31,000 tons per year and cobalt 3,000 tons per year.

Current Joint Venture (JV) Partners of Ramu Nickel Cobalt Project

The project is an unincorporated joint venture between MCC Ramu (85%); Mineral Resources Madang Limited (MRML 2.5%) and Mineral Resources Ramu Limited (MRRL 3.94%) two subsidiaries of Mineral Resource Development Corporation (MRDC) on behalf of PNG government and landowner interests, and Ramu Nickel Limited owns 8.56%, a subsidiary of Highland Pacific Ltd. Ramu NiCo Management (MCC) Limited, as the manager/operator of the project appointed by all JV parties, was fully responsible for construction, development and operation of the Project.

The Coleman Properties, a commercial property is situated at the corner of Spence Street and Grafton Street Cairns, Queensland Australia.

They comprise three (3) land allotments located adjacent to each other and contain three (3) two (2) level high standard commercial buildings with offices at top floors and retail shops on ground levels. They are the buildings located within the centre of CBD of Cairns with close proximity to shopping centres, banks, hotels, etc. It is owned equally by Petroleum Resources Kutubu, Petroleum Resources Moran, Petroleum Resources Gobe and MRDC.

BSP is the largest bank in PNG and the South Pacific with a market share of 56% in banking sector. BSP had diversified into asset finance and life insurance. BSP has branches across major Pacific island countries as well as South East Asia. MRDC group are the third largest shareholders of BSP leading by Petroleum Resources Kutubu Limited.

website —> https://www.bsp.com.pg/

The MRDC Group of Companies (Petroleum Resources Kutubu, MRDC, and Mineral Resources Ok Tedi 2) owns twenty seven percent (27%)

The MRDC Group of Companies owns fifty percent (50%) of the Hevilift Group in partnership with Regional Aviation Ltd. Petroleum Resources Kutubu, Petroleum Resources Gobe, Mineral Resources Star Mountain, and Petroleum Resources Moran). Learn more about Hevilift by visiting their official
website –> http://www.heviliftgroup.com

Board of Directors

The MRDC Group is represented on the Board of Hevilift by the following directors::

  • Augustine Mano
    Director, MRDC

  • Mark Sakai
    Director, PRK

The MRDC Group of Companies (MRDC, Mineral Resources Ok Tedi 2, and Mineral Resources Star Mountain) owns more than forty one percent (41.09%) of PNG Air in partnership with Nasfund Ltd and others. website –> http://www.pngair.com.pg
 
 
 

Board of Directors

The MRDC Group is represented on the Board of Taumeasina Island Resort Samoa by its Managing Director, Augustine Mano.

  • Augustine Mano
    Chairman, Taumeasina Island Resort

The Pearl South Pacific Resort and Golf Course is located in the Pacific Habour, Fiji, the regions’ biggest tourism market. MRDC and subsidiaries; Petroleum Resources Kutubu (PRK), Mineral Resources Ok Tedi No 2 (MROT2) jointly acquired the Pearl Resort and Golf Course in 2012. Website –> http://www.thepearlsouthpacific.com

Board of Directors

The MRDC Group is represented on the Board of the Pearl South Pacific Resort by the following directors:

  • Augustine Mano
    Chairman, Pearl South Pacific

  • Harry Kore
    Director, MRDC

  • Hon. Taboi Yawi Yoto
    Director, Chairman MROT No.2 Ltd

  • John Kapi Nato
    Director, PRK

Dirio Gas & Power is MRDC’s latest investment project in the power generation business. The Dirio Gas-based 45MW power plant is 100 per cent owned by Papua New Guineans (landowners and provincial governments) from SHP, Hela, Gulf, Western and Central Provinces. Dirio power plant is West of Port Moresby, close to PNG LNG Project plant facility at Caution Bay. It is an investment which offers sustained income to the shareholders outside of the oil and gas royalties and provides project security to PNG LNG Project. Dirio aims to deliver cheaper power, making electricity more affordable.

The plant will operate three 15 MW Titan Solar turbines, producing a total energy capacity of 45 MW. The produced electric energy will be fed into PNG Power Ltd (PPL) Port Moresby Grid.

The Hohola Mobil Service Station is owned by MRDC Group subsidiary, Star Mountain Service Station Limited (SMSSL). It is in partnership with MRDC and Mobil Oil New Guinea (MONG), a subsidiary of Mobil PNG Limited (MOBIL). MONG is the downstream business of MOBIL. The mid-stream and up-stream business is managed under Exxon Mobil PNG

SMSSL is a three-way partnership between the three MRDC subsidiaries from Western Province – Mineral Resources Star Mountains Limited (MRSM), Mineral Resources Ok Tedi Limited (MROT), and Mineral Resources Community Mine Continuation Agreement Holdings Limited (MRCMCAH), holding equal share in SMSSL

The Hohola Mobil Service Station Site is MOBIL’s first “FLAGSHIP” site in PNG. The success of this model is expected to pave the way for development of more similar sites across the Country. MRDC’s partnership with MOBIL on the development of the Hohola Service Station provides a unique opportunity for the MRDC Group to capitalize on MOBIL’s expansion plan of their national retail footprint. It will be operated by Lifu Holding, a local specialist fuels station outlet operator based in Port Moresby.

 

Website –> http://www.startmountainplaza.com

Star Mountain Plaza Limited is a joint venture between the Independent State of Papua New Guinea and three MRDC subsidiaries representing landowner and provincial government interests:

  • Mineral Resources Star Mountain (MRSM): Representing Mt. Fubilan landowners.
  • Mineral Resources Ok Tedi No. 2 (MROT): Representing the Fly River Provincial Government.
  • Petroleum Resources Kutubu Limited (PRK): Representing the Southern Highlands Provincial Government (SHPG), Gulf Provincial Government (GPG), Kutubu and Kikori landowners.

Board of Directors

The MRDC Group is represented on the Board of Star Mountain Plaza Ltd by the following directors:

  • Augustine Mano
    Chairman, SMPL

  • Hon. Taboi Yawi Yoto
    Director, MROT2

  • Hon. Chris Haiveta
    Director, PRK

  • Harry Kore
    Director, MRDC

  • David Kaiankim
    Director, MRSM

  • Johnny Yawari
    Director, PRK

  • Dairi Vele
    Director, MRDC

Mineral Resources Star Mountains Limited (MRSM) was incorporated under the PNG Companies Act in 2001 to hold the landowners 9% direct equity interest in OTML, in trust for the benefit for the ten Ok Tedi landowning villages. MRSM is administered by Mineral Resources Development Company (MRDC) through a management agreement. MRDC is a company wholly-owned by the state, and was the nominee to acquire the state’s equity interests in mining and petroleum projects in PNG, until changes in legislation transferred state asset ownership to other equity and royalty interests in mining and petroleum projects in Papua New Guinea.

Mineral Resources Star Mountains Limited (MRSM) was incorporated under the PNG Companies Act in 2001 to hold the landowners 9% direct equity interest in OTML, in trust for the benefit for the ten Ok Tedi landowning villages.

MRSM is administered by Mineral Resources Development Company (MRDC) through a management agreement.

MRDC is a company wholly-owned by the state, and was the nominee to acquire the state’s equity interests in mining and petroleum projects in PNG, until changes in legislation transferred state asset ownership to other equity and royalty interests in mining and petroleum projects in Papua New Guinea.

 

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MRDC's success hinges on a strong culture

We strive to fulfill our mission of creating wealth for Papua New Guineans, particularly our beneficiaries. This ambitious goal demands a united and high-performing workforce that embodies the MRDC RAITE Values, fostering the right culture for our journey.

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Get the latest news on mineral resource development, project milestones, and subsidiary updates

Mineral Resources

Mineral Resources Development Company Limited (MRDC) is registered under the Companies Act 1997 and is wholly owned by the State. Since 1975, MRDC has proudly managed landowner and provincial equity in Papua New Guinea’s resource sector — building wealth, empowering communities, and shaping a legacy of progress.

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  • (675) 302 9600
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