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Tolukuma Gold Mines pay dividends

Staff Reporter | 9:13 PM | |
 TOLUKUMA Gold Mines recently paid K1.3 million as royalty towards the Woitape local level government, Goilala district, Central.
For the past five years, the miner had placed payments towards the LLG on hold as it did not have a bank account.
The K1.3 million was consistent with the revised Tolukuma project memorandum of agreement which provides for 10 % of total royalties for the LLG.
The remaining 80% will go to the Yulai Landowners Association and with the Central provincial government bagging 10%.
Chief executive officer Sam Inguba said the project had changed hands over the life of the mine, with Tolukuma under Petromin taking over in the last five years.
He said it was true that during those years the landowners had not seen much development resulting from the operation of the mine.
Mineral Resources Authority managing director Philip Samar urged the Woitape LLG to attend to establishing their dedicated bank account so these funds could be deposited directly.
Woitape local level government president Joe Geru expressed gratitude towards the agencies involved in ensuring that the royalty was paid.
It is understood the money had been earmarked for impact projects in the area.