MRDC investigates MRSM

By Tony Stone Mineral Resources Development Company (MRDC) has begun investigations into allegations of corruption by the management of its subsidiary Mineral Resources Star Mountains (MRSM). MRDC’s action was in response to a PNG Echo story exposing alleged financial mismanagement of MRSM companies which include Fubilan Catering Service (FCS), the Tabubil caterer that provides meals for the now 100% state-owned Ok Tedi Mining Limited. MRDC Managing Director, Augustine Mano, replied to PNG Echo’s allegations in an email, this week: We have taken the allegations (raised by PNG Echo) seriously and are taking appropriate action to address the issues. We have engaged Continue reading MRDC investigates MRSM

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Ok Tedi Landowner company rorted: Mangi Mining with Tony Stone:

Power tends to corrupt, and absolute power corrupts absolutely.  Lord Acton As Peter O’Neill seeks to gain absolute power and control over revenues from Ok Tedi Mining Limited (OTML), another power hungry man, Paul Anthony Povey, rises to fame and fortune through mismanagement and corruption of the mine’s umbrella landowner company, Fubilan Catering Services (FCS). The power monopoly was established on the arrival of the new incumbent to the job of CEO of Ok Tedi, Alan Breen, in 2007, when he removed the reputable international caterer, Eurest South Pacific, as managers of FCS and appointed a single person, Paul Povey Continue reading Ok Tedi Landowner company rorted: Mangi Mining with Tony Stone:

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