The Mineral Resources Development Company (MRDC) has announced a series of executive leadership appointments, including the historic naming of its first female chief risk officer, as the state-backed entity strengthens governance and organisational capacity.
The appointments form part of a broader effort to reinforce the company’s leadership structure, with a focus on long-term value creation for landowners and provincial stakeholders.
Managing Director and Chief Executive Officer, Augustine Mano, said the changes reflect MRDC’s push to enhance organisational readiness, maintain disciplined investment practices and uphold strong governance standards as the company expands its portfolio.
“For five decades, MRDC has carried the responsibility of safeguarding and growing landowner and provincial equity on behalf of Papua New Guinea,” Mano said.
“These appointments demonstrate the depth of leadership within MRDC and our commitment to disciplined investment, strong governance, and sustained community benefit," he added.
MRDC is a government-owned entity that manages equity interests on behalf of landowners and provincial governments in Papua New Guinea’s key extractive projects, including oil, gas and mining operations. The company acts as a trustee of these resource-derived revenues, investing dividends into a diversified portfolio spanning property, infrastructure, energy and financial assets.
Over the years, MRDC has evolved into one of Papua New Guinea’s largest asset managers, with interests in major developments such as the PNG LNG project and various commercial real estate holdings. Its mandate centres on converting resource wealth into sustainable income streams, supporting community development, and delivering long-term financial returns to its beneficiaries.
The company said the strengthened executive team is expected to support continued growth while ensuring accountability, transparency and prudent stewardship of landowner wealth.
