MOU Signed: PNGCRIL & MA Investment

Alluvial mining is deemed illegal in mining provinces in Papua New Guinea; however, an MOU was signed yesterday with an Israeli trade delegation venturing into gold trading with landowners.

The PNG Cultural Resources Incorporated Limited signed a business partnership agreement with the MA Investment Group of Israel, saying this is the result of the national government and investors’ failure to share the benefits of their resources to develop their lives. They called it a blessing in disguise.


The PNG CRIL chairman, Sane Simeon Gao, said their call for a gold trade agreement between them and the Israeli trade delegation has been denied by government for some 9 months.


Mr. Gao said the signing is a great achievement, and the way forward for PNG CRIL members and ordinary Papua New Guineans.


MA investment group representatives said apart from gold trading, also under this agreement, they will assist their partners to develop agriculture, infrastructure and other small businesses. The main aim of the PNG CRIL Company is to trade gold.


The company aims to get unemployed Papua New Guineans in major towns to return to their respective communities and get involved in alluvial mining, logging, fishing and other activities that generate a large amount of money.


Members said the national government and investors have cheated the people, especially over natural resources for too long, and the company is all about people empowerment.


PNG CRIL has over 30 members. A fee of 10 will be required to become a member. Current members are mostly retired public servants, village elders, landowners and chiefs. Only a Papua New Guinean by birthright is qualified to become a member.

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