Mineral Resources CMCA Holdings Limited (MRCMCAH) was incorporated under the companies Act in on the 15th of September 2015. MRCMCAH holds 12 percent of the OK Tedi Mine shares for 152 villages from the Community Mine Continuation Agreement (CMCA) regions in the Western Province. The CMCA regions are North Fly, Middle Fly, Kiwaba, Highway, North Ok Tedi, Suki Fly Gogo, Manawete and Dudi Region.
MRCMCAH is managed by MRDC through a management agreement. Under this agreement MRDC manages, investment, client services and other affairs in accordance with standard business practice.
Implementation of Community Infrastructure Trust Funds (CITF) projects are guided by guideline as set in accordance with the Oil and Gas Act, No 49 of 1998. The guideline as formulated by the Department of Client Services defines the process of implementing the CITF projects. Under the Act, 30%, of the dividends from royalties and equities from the oil, gas and mining projects and investments are put into the CITF Trust accounts. The Managing Director is the trustee of all funds under the trust including CITF.
Five New Outboard Motors to CMCA Communities – Feb 2019
