The Office of the Prime Minister has terminated a Memorandum Of Understanding (MOU) signed between the Solomon Islands Government and the Nazar Group of Companies and Nazar Gold (SI) Ltd.
The MOU was signed by the former Special Secretary to the Prime Minister, Rence Sore, on behalf of the Government and the Directors of both Companies in April 2015.
Special Secretary to the Prime Minister, Andrew Muaki confirms, the government had officially informed the directors of NAZAR Group of Company LTD and NAZAR GOLD LTD that the Solomon Islands Government had decided to terminate the MOU.
The Government Communication Unit reports, the government had obtained legal advice on this matter before making the decision.
It says, a letter of termination of the MOU was communicated to the NAZAR Group Directors, Tuesday this week.