Trading Bougainville Copper (ADRs) 867948
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Frank Senge Kolma | The National
THE extractive resources sector in PNG will be looking for one commitment from Prime Minister Peter O’Neill when he addresses the Mining and Petroleum Conference in Sydney, Australia, today.
It will want an emphatic “no” to current moves to change ownership of the mineral and petroleum resources from the state to individual land-owning groups.
While exploration and development activity in the resource industry is at an all-time high, contributing K2.2 billion a year or one third of the government tax revenue, the industry is bracing for the worst with the growing ownership change debate and a bill before parliament to that effect.
The position of the PNG Chamber of Mines and Petroleum is this: “Complex regimes of landownership already pose significant challenges for resource development in PNG and a change in resource ownership would magnify these social problems many fold.
“Because there is no system of land title for customary land, an explorer would be left with the task of dealing with a resource owned by a community that is always open to challenge from within and without, and where agreements may always be in a state of flux.
“The end result would be a complete loss of security of tenure, making it all but impossible for the resource industry to operate.”
“State ownership of minerals is vital to the development of PNG and allows resources to be developed for the benefit all citizens as required by the Constitution,” the PNG Chamber of Mines and Petroleum said.
“A change in resource ownership would result in a breakdown of this system; the risk profile would be unacceptable to potential developers.”
The prime minister was aware of the gravity of the situation and had previously said the current fiscal regime would not be disturbed.
It is expected he will not depart from this stance at the Sydney conference.
The Chamber of Mines and Petroleum said earlier this year that provincial and local level governments, as well as the wider community, would be the big losers should the system change and be underwritten by private ownership of resources.
Were resource ownership to change, resource extraction would become a private business activity for selected individuals and groups.
The chamber believed landowners would want everything, as they do today, including royalty and state equity and would only share with whoever they pleased if they felt inclined.
Current benefits from the sector include company tax, royalties, dividend withholding tax, salary and wages tax, duties, production levy, dividends (equity), a tax credit scheme, special support grants, development levies, employment, education and training, public health programmes, business and agricultural development and community infrastructure.
North Fly MP Boka Kondra brought to the last parliament a bill to change section 5 of the Mining Act and section 6 of the Oil & Gas Act to transfer ownership from the state to the landowners.
The bill remained the property of parliament.
Senior people such as former prime minister and New Ireland Governor Sir Julius Chan is supportive of a change in regime.
His son and present Mining Minister Byron Chan initially proposed the regime change but of late had adopted a softer stance to review arrangements.
He is also expected to address the conference.
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Bougainville President Chief John Momis wants the closed Panguna Copper Mine to reopen.
Chief Momis said the mine’s reopening will support the Autonomous Bougainville Government with much needed funds, for the delivery of services.
Momis said the Panguna was a single impact project that can bail out Bougainville from its financial problems.
This will only happen after a completely new agreement is negotiated with Bougainville Copper Limited and other stakeholders including landowners and National Government.
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...also lediglich noch eine Frage der Zeit !? ;d)))))
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2.ABG Parliament endorsement
3.Landowners, Umbrella Assocn, endorsement PMCC decision in favour of mining
4.Arawa airport and preliminary infrastructure
5.Law and Order with guns surrendered
6.Natl Govt to ABG delegation, equity shares, taxation
7.Moratorium lifted on 7 leases
8. BCL presence in Panguna
9.Pay past compensation and agree on New Deal
10.Feasibility Study
11.Financing in place
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http://ramumine.wordpress.com/2012/12/04/...t-benefit-from-resources/
apua New Guinea’s Prime Minister, Peter O’Neill, has told resource industry investors to do more to spread the benefits of mining and energy developments to Papua New Guineans, including involving PNG businesses and offering PNG-only fly-in fly-out work arrangements.
Presenter: Jemima Garrett
Speaker: Papua New Guinea’s Prime Minister, Peter O’Neill
GARRETT: Mr O’Neill’s speech outlining his vision for the mining and energy industries was a confident performance.
He told his audience he is delivering high economic growth, government stability, a concerted campaign against corruption and big new spending on infrastructure and social services.
With increasing competition in Asia and record investment resource investment due to slow in 2013 he said would not shy away from the challenges ahead.
Mr O’Neill said is acting to cut the cost of doing business and to boost productivity and he foreshadowed the possibility of establishing a new Productivity Commission.
But it was on the involvement of Papua New Guineans that Mr O’Neill had most to say.
The PNG Prime Minister wants to see gas projects focussing on local needs.
O’NEILL: We need projects totally focused on our domestic gas and energy needs, including gas capable of driving our rural and regional energy requirements and meeting the energy needs of the new projects that are now about to be developed.
GARRETT: Mr O’Neill said his government is willing to speed up the approval process for projects but that move comes with a challenge to include Papua New Guinean businesses.
O’NEILL: The challenge I want to issue you today to our investors and those who are thinking of investing in our country is to look on taking on board Papua New Guinean investors and partners from the outset. We as a rapidly growing number of companies and individuals who have been very successful in their business lives. We are very successful contractors, transport operators, engineers and other professionals who can get access to funds that can be used to directly participate in the next phase of our resource sector development.
GARRETTl The PNG Prime Minister wants workers from across the country to get more access to jobs.
O’NEILL: Successive governments have been reasonable, but, if not to generous when it comes to Fly InFly Out arrangements for our major resource sectors.
What I want to encourage is a review of these arrangements. We are prepared to look at incentives to encourage companies to have their Fly In Fly Out schemes operate only in Papua New Guinea.
GARRETT: Mr O’Neill hopes to spread the wealth generated from resources to other industries.
O’NEILL: Papua New Guinea has got a huge potential for tourism industry, that means we must do better resorts and facilities. We want the resource sector to partner us in making sure that we build these facilities.
GARRETT: The PNG Prime Minister moved to reassure the industry that his government will consult investors about the upcoming review of resources industry taxation.
Even more sensitive is the push for landowners to directly own mineral resources.
Mr O’Neill said his government’s policy is based on fair and equitable sharing of the benefits of resource development.
He acknowledged landowner concerns.
To industry he gave this commitment.
O’NEILL: The undertaking I give you today is simply there will be no drastic or radical change to laws that exist today and there will be no immediate change. We will set up an independent panel to review the concerns that have been already expressed and the resource sector will be fully consulted in this process. We must get the balance right and we will only get it right through consultation and negotiation.
GARRETT: As the Papua New Guniea Prime Minister set out the direction he wants to take his nation’s resource industry he was aware of the extent of new interest.
In the past few years PNG has seen a rush of new entrants.
Here at this year’s PNG Mining and Petroleum Investment conference there is not only another record attendance but more investors than ever before from Asia.
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http://asopa.typepad.com/asopa_people/
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Finde ich ganz interessant, unter Punkt legal doc's and informations.
There is widespread agreement today that Bougainville’s economic future needs mining if it is to be able to fund services for the people from its own resources, as well as address future opportunities for economic and social development. A re-commencement of mining at Panguna cannot take place unless all parties: the Landowners, the Autonomous Bougainville Government, the National Government of PNG, and BCL, are acting in close accord, now and into the future. Funding and sovereign risk assurance for the project will require a united effort. There will need to be a fair and stable regulatory regime that gives investors the confidence needed to commit to a project that will cost in excess of US$3 billion. It is pleasing to note that Landowners and others in nine areas most closely affected by the mine’s operations, including Panguna, the tailings areas, Arawa, and the road and port leases, have all but completed the formation of legally-based associations capable of providing genuine representation to the process of reviewing the Bougainville Copper Agreement. The process of incorporation, which involves both legal and customary commitments, is most welcome, and should bring us closer to the capacity required to review the BCA to the benefit of all stakeholders. It is a process conducted by the Landowners themselves with the support of the Autonomous Bougainville Government and President Momis, and without the participation of BCL. Prime Minister Peter O’Neill has confirmed in the Parliament that BCL has, by right of the BCA, permits to operate at Panguna for a further 21 years from 2011. There are also encouraging indications that funding for Bougainville and the drawing down of powers to the ABG including the power to license and regulate mining will be invigorated under his government.
http://www.ariva.de/bougainville_copper-aktie/kurs
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04.12.2012 12:12:08 3100§ 0,534
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Sieht so aus als würde hier das gleiche Spiel wie an der asx gespielt werden.Der/Die versucht Interesse in Boc zu erwecken durch hin und herschieben von Positionen .
Weiter so ,sonst hätten wir ja Null Handelsvolumen in D +Au
Würde es auch gern machen ,muss aber noch Weihnachtsgeschenke kaufen :-((
By Aloysius Laukai
The CEO for Autonomy Division and Acting Deputy
Administrator for Operations PAUL KEBORI
says that the ABG is slowly preparing to draw down powers from the National
Government.
He made these remarks at the MOU Awareness workshop in
Tarlena last week.
In his presentation to the Chairmen’s of COE’s and their
officers, MR. KEBORI said that the implementation of Autonomy was a very
complex issue however most of the ABG Divisions have gone ahead to enact
policies in preparation of the drawdown of powers.
He said that since the establishment of the ABG, a lot of
work has been done to build capacity to drawdown the powers.
MR. KEBORI said that the ABG Government was working with the
National Government through the Joint Supervisory Body to fast track most of
the activities.
New Dawn FM understands that the Education and Health Divisions
are the first divisions to take on board new responsibilities.
Jemima Garrett | ABC
PNG Mining Minister, Byron Chan, [has] elaborated on the O’Neill government’s plans to reform the mining industry.
The O’Neill government has been under pressure on a number of fronts to ensure more of the benefits of mining get down to the grassroots people, and has responded with a wide-ranging reform program.
Changes include moves to reduce the maximum size of exploration leases by half and to limit the number of licences an individual can hold to 10.
Mr Chan told the conference the PNG Government is determined to ensure landowners benefit from mining projects and to encourage downstream processing.
“We want to make sure people are committed, companies are committed, everyone is committed to the project and not just holding licence and playing on the stock market,” he said.
“There are some companies that have been playing that game for far too long.”
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http://www.rnzi.com/pages/news.php?op=read&id=72681
Posted at 03:45 on 05 December, 2012 UTC
The non governmental organisation, World Vision says two new centres providing basic education in the Papua New Guinea province of Bougainville should succeed, because of community buy in.
Educational services are seen as vital for Bougainville because it is still recovering from the shut down of services that occurred during and after the ten year long civil war.
World Vision’s project manager, Helen Teviri, says they will cater for children, and adults up to the age of about 25.
She says while other such schemes have failed on Bougainville, the community involvement is likely to be the critical factor in sustaining their Basic Education Improvement Plan.
“If the community can plan whatever programmes that they feel that the community would have in there, they can plan all that and they understand, the whole community understands the programmes and takes ownership of that and understands these things are to be met then I think that the sustainability of the project will be there.”
World Vision’s Helen Teviri.
News Content © Radio New Zealand International
PO Box 123, Wellington, New Zealand
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Rank Score
1 New Zeeland 90
....
5 Singapore 87
....
7 Australia 85
................
150 PNG 25
.....das macht vielleicht auch ein wenig die skeptische Haltung der Freunde der *BCL shares* an der ASX deutlich. ;D))))))
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By Aloysius Laukai
The Autonomous Bougainville Government today made an
undertaking to come up with a decision within one week, on the demand by the
Hagogohe Home Guards for ONE MILLION KINA for what it calls “HARDSHIP CLAIMS”.
The ABG made the undertaking following a special BEC meeting
to discuss an incident yesterday when seven government vehicles were
commandeered by members of the Hagogohe Home Guards on Buka island.
Led by DAVID MUSEIN, a large group of youths converged on the
administration as a protest against what they claim to be non-payment of
hardship allowance for services rendered as home guards for the period 1990 to
1997,a total of ONE MILLION KINA.
They forcefully seized seven government vehicles and at
today’s report, were now parked at Gogohe village.
The group claims that through its hard work, it had restored
peace and normalcy in the community, secured the Buka township, prevented the
destruction of properties, and prevented Buka elites from being taken to Panguna
for interrogation.
Announcing the ABG’s decision, President Dr John Momis
expressed dismay at the manner in which the group had decided to come and
expressed their demands.
President Momis said the government was ready to listen to
reasonable claims and demands, but there were lawful means and channels through
which these things can be done.
He said the ABG today decided to appoint a special committee
to look into the Home guards demand before reporting back to the government.
The committee had been given one week to do its work. Based on the information
collected and presented by the committee, the government will make its decision
on the demands by the home guards.
President Momis said that in the meantime, he wants the
vehicles commandeered returned to the government, and that normal police
investigations continue into the incident. If it was found that there had been
breaches of the law, appropriate legal action will be taken against those
responsible.
He said it was high time that people, who broke the law,
were made to pay for their actions. The manner of the people commandeering
vehicles to press their demands without being punished had gone on for too long
and must stop.
He echoed the statement made by former BRA General, Ishmael
Toroama only a week ago, that the action of commandeering vehicles must stop
this year. From next year onwards, there would be no more commandeering of
vehicles for any reasons.
President Momis pointed out that time is running out for
Bougainville to prepare itself for referendum.
Unless it can carry out more development in the short time
available, the referendum will be threatened.
The ABG needed all the money it had at its disposal to carry
out these developments.
If it had to give
away money for excessive and unreasonable demands, many of their projects may
not be carried out.
He assumed the home guards that the government will
seriously look closely into their demands and hopefully come up with a decision
that will please all concerned.
Ends
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