Landowners of Ramu NiCo Mine’s refinery located in Bsamuk in Raicoast district of Madang will now have effective benefits through their newly established landowner company, the Basamuk Limited.
Ramu NiCo and Basamuk Limited signed a Memorandum of Understanding (MOU) on Sunday 28 June, 2026 to create a mutual understanding and strengthen their working partnership on the operation of the local company.
The landowners previously have a business company called Basamuk Enterprise but it dissolved due to unknown reasons.
The creation of the Basamuk Limited with full support of Ramu NiCo guided by the signed MOU is a step towards the right direction and both Ramu NiCo and the landowners are confident that their business will nourish.
Ramu NiCo Deputy Refinery Manager Ken Knox said the MOU is more than an administrative document because it represented a shared commitment to build a strong sustainable and well governed landowner Umbrella Company that is capable of creating long term economic opportunities for the local community.
Mr Knox said from a compliance perspective, the MOU established a clear governance framework because it recognized that Basamuk Limited remains an independent organization with its own board and management while benefitting from the advisory and mentoring support provide by Ramu NiCo.
“This distinction is important because good compliance is not about taking over decision making but it is about ensuring decisions are made within sound governance structures with transparency, accountability and respect for legal and ethical obligations,” Mr Knox said.
Ramu NiCo Community Affairs General Manager Eric Kuman said Basamuk Landowners have wasted a very long time fighting court battles and should now get their heads down and do business with Ramu NiCo seriously.
Mr Kuman said Basamuk landowners have much privileges and chances to get more spin off benefits from the mine and entering a partnership through signing of the MOU would land them on a perfect position to benefit more from Ramu NiCo.
“You must be aware that when you allow a company to come and do business on your land, you will benefit from one of the benefits in the MOA called business spin offs,” Mr Kuman said.
“The whole idea of this agreement was for us to work together,” he said.
Mr Kuman encouraged the Basamuk Limited company executives to be good stewards who should produce audit reports and host annual general meetings.
He said the Ramu NiCo Community Affairs team in Basamuk designed a system that would make Ramu NiCo assist the landowner company and all operations must function.
“We must have an effect board system that will make good business decision and not personal decision as landowner but a business decision,” Mr Kuman.
Kuman warned them not to bring community issues in and expect Basamuk Limited to shoulder the financial weights.
