𝗠𝗥𝗗𝗖 𝗖𝗹𝗮𝗿𝗶𝗳𝗶𝗲𝘀 𝗥𝗲𝗰𝗼𝗿𝗱 𝗶𝗻 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝘁𝗼 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗯𝘆 𝗡𝗼𝗿𝘁𝗵 𝗙𝗹𝘆 𝗠𝗣 𝗶𝗻 𝗣𝗮𝗿𝗹𝗶𝗮𝗺𝗲𝗻𝘁

𝗠𝗥𝗗𝗖 𝗖𝗹𝗮𝗿𝗶𝗳𝗶𝗲𝘀 𝗥𝗲𝗰𝗼𝗿𝗱 𝗶𝗻 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝘁𝗼 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗯𝘆 𝗡𝗼𝗿𝘁𝗵 𝗙𝗹𝘆 𝗠𝗣 𝗶𝗻 𝗣𝗮𝗿𝗹𝗶𝗮𝗺𝗲𝗻𝘁

𝑴𝒐𝒏𝒅𝒂𝒚, 𝑱𝒖𝒏𝒆 9, 2025

The Mineral Resources Development Company (MRDC) issues this statement in direct response to recent Parliamentary remarks made by the Member for North Fly, concerning MRDC’s management of Western Province’s derived investments.

While robust public discourse is vital, it must be underpinned by facts and not political rhetoric. MRDC has consistently managed the Mineral Resources Ok Tedi 2 (MROT2) portfolio with strategic intent and a supportive board comprising the Chairman and Governor of Western Province, the Provincial Administrator, the three DDA reps, the Secretary for Mineral Policy & Geohazard Management, and the MRDC Managing Director.

It is important that the public, especially the people of Western Province, understand the broader picture. MRDC is not merely a custodian of resource funds – it is a long-term investment partner, mandated to create enduring revenue streams and wealth for the landowners and provincial government beyond the life of the Ok Tedi mine. MRDC is not a development agency.

𝗢𝗧𝗠𝗟 𝗗𝗶𝘃𝗶𝗱𝗲𝗻𝗱 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻

The restructure of the shareholding of Ok Tedi Mine resulted in the Ok Tedi landowners, the CMCA communities along the Fly River and the Fly River Provincial Government collectively owning 33% of the Ok Tedi Mine.

The Fly River Provincial Government is the sole beneficiary of the Fly River Provincial Trust which is owned by Mineral Resources Ok Tedi 2 (MROT2) and holds 12% in OTML. Since the shareholding restructure, MROT received total dividends of K339 million from 2016 to 2023.

Of this amount, the outflows were:

▪️Investment: K122 million

▪️Tax to IRC: K40.7 million

▪️School Fee Subsidies: K13.5 million

▪️Provincial Government: K81.4 million

▪️DDAs for three districts: K122 million (North Fly