The Leader of the Parliamentary Opposition, Hon. Matthew Wale, accompanied by three Opposition MPs and senior officials from the Office of the Leader of Opposition, visited the Gold Ridge Mine on Thursday 29th May 2025. The visit aimed to witness firsthand the developments, challenges, and opportunities surrounding the Solomon Islands’ largest gold mining project.

Hon. Wale and his delegation were warmly welcomed by the Chairman of GCIL and Director of Gold Ridge Mining Limited (GRML), Mr. Walton Naezon, who provided a brief background on the Gold Ridge Mine project.

“The Gold Ridge project came a long way since Ross Mining started the project in 1996. It changed hands over these years, stopped during the tensions, reopened again and stopped during the April floods in 2014. Bought by landowner company GCIL in 2015 before partnering with Wanguo in 2018.”

Mr. Naezon highlighted the legacy issues of the Gold Ridge Mine, including the state of past operations.

“But now we have a new Chinese operator through a partnership arrangement with the local landowners’ company Gold Ridge Community Investment Limited [GCIL]. Wanguo has been here since 2018 and has discovered exciting results, which you will hear from the presentation later.

”There is a huge resource here that can take the project for another 25 years,” Naezon said.

Mr. Naezon further introduced Zijin Mining Company, one of the world’s leading mining companies, now a shareholder in Wanguo Mining Group, which holds 90% of the project, while landowners retain a 10% equity share.

Zijin Mining of China also holds shares in the Pogera Mine, an entity 51% owned by PNG Stakeholders [including state-owned Kumul Minerals Holdings Limited, local landowners and the Enga Provincial Government], and 49% by Barrick Niugini Limited (BNL), itself a joint venture between Barrick Gold and Zijin Mining of China.

“GCIL is proud to be a local partner. Our people are so proud of this partnership. So far we have seen some differences with the new methods now used, which significantly improve the recovery rate,” said Naezon.

However, this achievement has not been attained effortlessly, he emphasized: “Our partner has invested substantial capital to enhance and discover additional resources, which are positive for any mining project.”

In response, Hon. Matthew Wale expressed his appreciation: “Thank you for the very warm welcome and for having us here. I apologize that not everybody was able to make it this morning, but for those of us who are here, we are very pleased that you have accepted us. We look forward to understanding more about your investment and the operations and grow pathways forward.”

A comprehensive presentation was delivered by GRML’s team, under the leadership of Ms. Sophie Xuanyu Yang, the Deputy Mines Manager. The presentation illuminated the company’s current operations, exploration outcomes, resource potential, engagement with landowners, and prospective development strategies.

Following the presentation, Hon. Wale remarked: “I extend my gratitude for a remarkably impressive presentation; it is intriguing to learn that Gold Ridge is poised to become a world-class mine. You have our unwavering support. Regrettably, we are not directly involved in these matters, as it falls under the purview of the Executive Government; however, one can never predict how circumstances may evolve.”

He acknowledged GRML as the only legitimate mining operator in the country and applauded their transparency and approach.

“We appreciate the presentation very much and that it’s all transparent. What you are finding, you put up, and you are looking for fair returns. I think this is the future. Certainty is important to assure everyone of fair return. Of course, investors must make good returns—and at the same time landowners and the Government must also make good returns as well.

“This is exceptionally commendable. Your demeanor and the ethos with which your company operates are highly regarded and valued,” he added.

Hon. Wale also articulated the Opposition’s vision for the management of mineral revenues: 

“Our nuanced policy asserts that all mineral revenues allocated to the Government will not be directed to the Government per se, but will be invested into a sovereign wealth fund held offshore. These funds will not be diverted elsewhere; rather, they will ensure sustainability for future generations while generating profits. From these profits, dividends will be reinvested into the budget, resulting in annual growth.”

After the presentation, the Opposition Leader, along with Opposition MPs Hon. John Maneniaru, Hon. John Kuku, and Hon. George Tema, and their officials, toured the mine site and the pits. They witnessed firsthand how the mining process is conducted and were briefed on the challenges posed by illegal mining, which has resulted in significant financial losses for the company.

Also present during the presentation and visits was the Chairman of the Gold Ridge Community and Landowners Council, Mr, Dick Douglas. The GRCLC represented the 16 landowners tribes at the Gold Ridge Mining Lease. 

The visit concluded with a luncheon and an interactive session between GRML and the visiting delegation, reaffirming the importance of continued collaboration and transparency in responsible resource development.