Government Concerned Over Gold Ridge Shareholder Dividends

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Minister of Mines, Derek Manuari, has expressed the government’s deep concern that local shareholders of Gold Ridge Mining Company Ltd (GRML) have not received timely dividends.

Gold Ridge has been under intense public scrutiny in recent weeks, following heated debates in Parliament over illegal mining within the company’s licensed area. While the focus has largely been on these unlawful activities, other pressing issues — including shareholder returns — have also come to light.

“it is deeply concerning that local shareholders have not received timely dividends,” said Manuari.

Last week, Central Guadalcanal MP and Minister of Foreign Affairs, Peter Shanel Agovaka, raised serious concerns about the welfare of landowners, particularly the lack of dividend payments.

In Parliament today, Manuari outlined the government’s position, noting that a taskforce established to investigate issues surrounding GRML has issued directives to the company and its partners.

He stressed that Gold Ridge landowners, through their investment vehicle Goldridge Communities Investment (GCIL), must convene an annual general meeting to disclose shareholder structures and dividend policies.

The minister further directed GRML to clarify the 10% local shareholding arrangement and to legally issue share certificates. He also emphasised that all future board appointments must comply with company constitutions to ensure transparency and maintain community trust.