15 Nov 2007

OK Tedi landowners in PNG invest over a million US dollars in local company

12:02 pm on 15 November 2007

OK Tedi landowners in Papua New Guinea have invested 1-point-17 million US dollars in the local company, Star Mountains Investment Holdings Ltd.

The funds came from the dividend paid by Ok Tedi Mining Ltd under the leasing agreement between the landowners and the miner called miner's special mining lease and lease mining purpose.

The general manager for community and business support David Masani, who is also a trustee of Ok Tedi Landoweners Royalty Investment Trust, said he was pleased that the landowners had re-invested their dividend earnings into their own company.

The Post Courier newspaper reports Star Mountains is the umbrella company for Ok Tedi mine landowners.

Star Mountains began operations in 2004.