CABINET SUB-COMMITTEE ON GOLD RIDGE PLANNED MEETINGS
The Gold Ridge Mining Limited. Photo credit: SIBC.
A Cabinet sub-committee on Gold Ridge is planning a series of dialogues with the Gold Ridge Community Investment Limited (GCIL) and its stakeholders on the mining project.
A statement from the Prime Minister’s Office said the proposed dialogues are part of the committee’s work programme for this year to chart a way forward.
It said this is to inform itself about the nature of GCIL’s ownership of Gold Ridge Mining Limited (GRML) and find ways the Government can help structure and assist GCIL in its joint venture aspirations with overseas investors.
The committee noted that the GCIL’s assumption of ownership over GRML from St. Barbara Mining in May 2015 involved the signing of a ‘Sale Deed’ and a ‘Deed of Indemnity’ which was shelved five days later.
Meanwhile, the committee acknowledged that the task now is to dispose of liabilities and arrange to sell shares to get the mine back in operation.
Members of the Sub-Committee includes Permanent Secretary of the Ministry of Mines and Energy, Permanent Secretary for the Ministry of Environment, Dr Melchior Mataki, Policy Secretary for Resources in the Prime Minister’s Office, Dr Chris Vehe and former Attorney General Billy Titiuilu.