A signing ceremony was held on 30 April 2025 at the Hilton Hotel in Port Moresby to mark a key milestone for the Community Mine Continuation Agreement (CMCA) Trusts. The event officiated the execution of the Custodian Deed by the eight CMCA Trust Chairpersons, Ok Tedi Development Foundation (OTDF), and Teutonic Trustee Limited.
The ceremony formalises the appointment of Teutonic Trustee Limited as the Custodian of the CMCA assets managed by OTDF. Under the Trustees’ directives, the Custodian company is entrusted with managing and safeguarding these assets, ensuring they are maintained and utilised for the benefit of the communities. Teutonic Trustee Limited will perform its duties with professionalism, integrity, and due diligence.
Trust Syndicate Chairman Mr. Tirira Togama of Aduru village, Dudi Development Trust region thanked the partners involved for wisely managing the people’s investments funds this far. He said: “ I am pleased to say that the decisions we make as leaders today must benefit the future generations, on behalf of the CMCA Trusts, I thank the Trust Administration for helping to provide support in securing the people’s investment funds, thankyou OTDF and Teutonic Trustee Ltd”.
Steven O’Brien, a legal expert and Director of Teutonic Trustee Limited, said the agreement highlights their commitment to strong and responsible asset management. “We are proud to support the CMCA communities by protecting and managing their assets responsibly,” he said.
OTDF Chairman Jesse Pile welcomed the partnership, saying, “This agreement reflects our ongoing commitment to improve the livelihoods of our communities. The Trusts’ assets will continue to deliver long-term benefits for the people.”
Andrew Mari, Acting CEO of OTDF, added, “This step strengthens how we manage community assets and stays true to the original purpose of the CMCA – to create real and lasting impact for our communities.”
The signing marks an important move to secure and grow the CMCA Trusts’ assets, ensuring they continue to support development and better outcomes for the beneficiary communities.