Prime Minister Hon. James Marape on Saturday (29.11.25) night congratulated Mineral Resources Development Company on its 50-year anniversary, describing the company as a “powerhouse” that “reflects the Papua New Guinean story of resilience and can-do attitude.”
In the packed and well-decorated grand hall of Hilton Hotel – one of MRDC’s many investments in the hospitality and tourism space – Prime Minister Marape paid tribute to founding father, Sir Michael Somare, for his vision to set up the company which has sustained itself and grown from strength to strength to a K16 billion company today.
“Two months after our 50th anniversary, we are here, and if anyone thinks that Papua New Guinea has no success story, MRDC rubbishes that line of thinking. Amidst our ups and downs, MRDC remains one of our greatest positive stories in our nation’s life,” said Prime Minister Marape.
“The Mineral Resources Development Company reflects the story of Papua New Guinea – of resilience and self-belief.
“In the 70s when it was generally believed that Papua New Guineans could not do anything, Papa Somare believed they could. MRDC is the true reflection of the can-do attitude of the Somare generation.
“This company has wonderful lessons for all of us to learn on our 50th ; it is a lesson about investing in the future and not only in the present. From a zero-starting point, MRDC is now a K16 billion company 50 years on.”
The Prime Minister said the structure of the company, set up in 1975 by Sir Michael, has proven successful and self-sustaining, driving the company forward and will continue to prove successful into the future.
PM Marape acknowledged the work of all managing-directors of the company, highlighting that since its initial operations, the company has had all national managing-directors and board members.
He drew the link between Hilton Hotel and its location in Hohola, once an ignored part of Port Moresby; and the beginnings of Pangu Pati in Hohola as the ‘Bully Beef Club’ and the birth of Papua New Guinea as a nation, symbolising the “can-do attitude” of Papua New Guineans.
“This space that was picked for Hilton Hotel coincides with the story of Bully Beef Club meeting in this once-rejected part of Port Moresby, Hohola. In the 1960s rationale of being squeezed into the corner, that we could not do it, this hotel reflects the aspiration of this country, including landowners – that from a small, tucker-box-size house you can leapfrog in one generation to a hotel of this standard, a hotel which you can find anywhere in a first world nation.”
Prime Minister Marape emphasised that in all equities his government secures, 40 percent would be passed back to landowners and provincial governments.
The event was witnessed by US Ambassador to PNG, Ann Marie Yastishock; Minister Foreign Affairs, Hon. Justin Tkatchenko; Minister Tourism Arts and Culture, Hon. Belden Namah; Minister Energy, Hon. Peter Isoaimo; Minister Bougainville, Hon. Manasseh Makiba; Governor for Gulf, Hon. Chris Haiveta; Governor for Hela, Phillip Undialu; leaders of subsidiary companies of MRDC from Star Mountains, Kutubu, Hides, Gulf Province, Central Province and Madang Province.