PARTIES to the Ok Tedi Mining Project Memorandum of Agreement (MoA) have successfully concluded the week-long MoA review in Alotau on the 24th March, 2023.
This formalizes the ultimate initialing of the MOA
Agreements were reached in the areas of Special Support Grants, royalties and equity amongst others.
The initialed MoA document will go the relevant government agencies for vetting including the Treasury Department for equity matters and the State Solicitors Office for legal clearance before it goes to the National Executive Council (NEC) for its final approval.
Mineral Resources Authority’s Acting Managing Director, Jerry Garry in his closing remarks, said he was impressed with the level of intelligence displayed in the negotiations by leaders of the parties.
He however, urged the leaders to manage expected benefits prudently, and ensure that benefits translate into tangible development for their people.
“You are the custodian of the people you represent. You must demonstrate good governance, be honest in your dealings and deliver services needed by your people,” said Mr Garry.
Leaders of the various beneficiary parties, including Manager for the Star Mountains Local Level Government, Papin George Naden and Mount Fubilan Resources Owners Association Chairman, Joshua David, collectively expressed satisfaction and joy on the successful conclusion of the review.
Both leaders also stated that they would work together for the common good of their people.
The parties to the Ok Tedi Project MoA are the National Government, Fly River Provincial Government, Star Mountains Local Level Government and the Mount Fubilan Resource Owners’ Association.
Ok Tedi Mine Limited (OTML), Kumul Minerals Holdings Limited (KMHL) and the Mineral Resources Development Company (MRDC) attended the meeting as observers.
The National Government was represented by the Departments of Mineral Policy & Geohazards Management (DMPGM), Treasury, Planning & Monitoring, Commerce & Industry, Lands & Physical Planning, Labour, Conservation & Environment Protection Authority (CEPA) and the Mineral Resources Authority (MRA).
Senior Government official who contributed immensely to the MoA negotiations include, the Secretary for the Department of Mineral Policy & Geohazards Management (DMPGM) Mr Harry Kore.
Mr Kore was instrumental in explaining the legalities of the process, to ensure the parties understood the different sections of the MoA document.
