The Mineral Resources Development Company (MRDC) hosted a high-level government delegation from the Solomon Islands in Port Moresby on Friday 25, September.

In a meeting, an overview of the company was presented to the delegation by MRDC’s Chief Risk Officer Ms Valentina Kaman.

The Solomon Islands delegation was on a fact-finding mission to PNG, and are in the process of developing legislations to establish a management entity to manage revenue from resources development.

The delegation was led by Dr Chris Vehe, Permanent Secretary, Ministry of Mines and Energy, Mr Rictor Luaboe, Economic Policy Advisor, Ministry of Finance and Treasury, Mr Clinton Roga, Director of Geological Survey, Ministry of Mines and Energy, Mr Richard Sesebo, Director of Public Private Initiatives, and Mr Sam Kaupa, Mining Advisor to Prime Minister. They were accompanied by High Commissioner to PNG Mr William Soaki.

During her overview presentation, Ms Kaman presented the history of MRDC, its transformation into a company managing equity and investment interests for landowners and provincial governments, the rapid growth in value of assets under management.

She also highlighted that legislations like the MRDC Authorisation Act 2020, the Oil and Gas Act, Company Constitution, and various trust deeds provided a strong governance framework around the company.

The delegation was particularly keen to see legislation like the MRDC Authorisation Act 2020 replicated in their jurisdiction, as it provided a certain level of protection against political interference.

They also expressed interest in seeing the MRDC Group extend their investment in hospitality and aviation to the Solomon Island, a suggestion that was taken up recently during bilateral discussions between the two countries.