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Port Moresby
March 9, 2021
News

Woitape LLG Recieves Royalty Payment

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The Woitape Local Level Government in the Goilala District of the Central Province recently received one point three million kina in royalty payment from the Tolukuma Gold Mine.

The payment was received by LLG President, Joe Geru, witnessed by the Chief Executive Officer of Tolukuma Gold Mine Limited, Sam Inguba, and MRA Managing Director, Philip Samar.

 

This payment is an accumulated figure for the years 2007 to 2012.

 

The royalty payment of K1.3 million was made at the Petromin house in Port Moresby. The payment is an accumulated figure for the years 2007 to 2012.

 

MRA and Tolokuma Gold Mine Limited explained that the monies were held back by TGM over this period because the Woitape LLG did not have a bank account.

 

The Woitape LLG requested TGM to have their royalties transferred into the custody of the MRA until such time as they are not organized to receive their entitleMen’s directly.

 

The occasion then was to witness payment of the royalty to Woitape LLG and then having these funds transferred into the custody of the MRA.

 

The royalty amount paid to the Woitape LLG is consistent with the revised Tolukuma project Memorandum of Agreement, which provides for 10 % of total royalties paid to the LLG.

 

The rest of the royalty goes to the Yulai Landowners Association (80%) and Central Provincial Government (10%).

 

Tolokuma Gold Mine Chief Executive Officer, Sam Inguba said the project had changed many hands over the life of the mine with Tolukuma under Petromin taking over in the last five years.

 

Mr. Inguba said it was true that during those years, the landowners had not seen much development resulting from the operations of the mine, however, the company has now strategized itself to bring better development to the area.

 

In the meantime, MRA is the custodian of the K1.3million.

 

Managing Director of the MRA, Philip Samar, said the MRA was happy to be the custodian of these funds, but has challenged the Woitape LLG to attend to establishing their dedicated bank account, so these funds can be transferred to enable the LLG President to take responsibility over these funds for tangible projects.

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