THE Mineral Resources Development Company (MRDC) has shared lessons from five decades of managing resource wealth, contributing to the national conversation on how Papua New Guinea can maximise the long-term value of its natural resources.
Speaking during the Wealth Management session at PNG Resources Week 2026, MRDC Chief Operating Officer Vele Rupa said while MRDC and the proposed Sovereign Wealth Fund (SWF) are underpinned by similar principles—transforming resource revenues into long-term financial assets that continue to benefit future generations.
“Resource projects have a limited lifespan, but the wealth they generate should not. The challenge is how that wealth is protected, invested and grown long after production ends,” Mr Rupa said.
“That has been MRDC’s role for the past 50 years. We manage and invest benefits belonging to resource owners, building a diversified portfolio that continues to generate returns for landowners and their communities.”
Mr Rupa said MRDC’s experience demonstrates the importance of strong governance, disciplined investment and long-term planning in converting resource income into sustainable economic value.
“A well-functioning Sovereign Wealth Fund should enable the returns generated from our natural resources to support national development, strengthen essential services and improve the affordability and accessibility of those services for Papua New Guineans. That is how resource wealth can continue delivering value long after the resources themselves are gone.”
He said MRDC’s investment philosophy has enabled the company to grow from managing royalty and equity benefits into one of Papua New Guinea’s largest state owned investment companies, with investments spanning property, aviation, financial services, hospitality, healthcare and other strategic sectors.
Following the session, Mr Rupa joined PNG CORE President Anthony Smare for an interview where he reflected on MRDC’s performance over the past year and the company’s future direction.
Mr Rupa said MRDC continues to build a strong pipeline of investment opportunities, with particular focus on sectors that have the potential to diversify Papua New Guinea’s economy and create long-term employment.
He highlighted tourism and hospitality as areas where MRDC is already making practical investments through Heritage Hotels, saying the Group is focused on strengthening domestic tourism infrastructure, supporting business travel and creating broader economic opportunities beyond the extractive sector.
“Tourism and hospitality are industries with enormous potential for Papua New Guinea.
Through investments such as Heritage Hotels and other strategic opportunities, we are supporting economic activity that creates jobs, stimulates local businesses and contributes to the country’s long-term growth. These are practical investments that complement our responsibility to grow wealth for our beneficiaries.”
He said MRDC remains focused on expanding its investment portfolio through responsible partnerships that deliver lasting returns for landowners while contributing to Papua New Guinea’s broader economic development.
“Our responsibility is to ensure that the benefits generated from today’s resource projects continue creating opportunities for tomorrow. That is the foundation of wealth management, and it remains at the heart of everything MRDC does.”