Trading Bougainville Copper (ADRs) 867948
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Bougainville Landowner Leader Beds with Chinese Multinational
by ramunickel
As the old saying goes, there are two certainties in life, death and taxes. We can now add a third, Lawrence Daveona’s terrible judgement.
Over the last few years the struggling Chairman of the Panguna Mine Affected Landowners Association (PMALA), has got into bed with a veritable rogue’s gallery of spivs and multinational predators – all this, we are told, is done by Lawrence to help Bougainvillean landowners … what does Daveona do to those he wants to hurt!
On PNGExposed bank reconciliation statements revealed that Daveona accepted money from Rio Tinto lobbyist Axel Sturm.
Based in a foreign tax haven, the German born Sturm is the largest individual shareholder at Bougainville Copper Limited. Daveona – the man mandated to defend landowning communities – felt there was no conflict of interest, taking money from a lobbyist with a huge stake in the company getting the best deal possible from landowners.
And what did Daveona do for Sturm – PNG Industry News reports: “[Sturm] told PNGIndustryNews.net that Daveona might have received a total of 4000 euros ($A5710) over various payments and in exchange, ESBC received ‘some information’ that was more difficult to gain access to at the time’. In short Daveona was acting as a double-agent – providing the enemy with difficult to access information on landowning communities. A conflict of interest here? Daveona says no!
Indeed, Daveona told PNG Exposed he worked at the Ombudsman Commission, HE KNOWS what a conflict of interest is, and these payments were entirely legitimate. Were we to doubt his authority on this matter, several lines later Daveona emphatically answers allegations of corruption – made when he worked as a Parliamentary Deputy Clerk - by admitting, yes he supplied police with “grog, 2 laptops and a new Vehicle with fuel” in return for conducting a fraud investigation … whats wrong with that?! Ah lets see what the national court says.
In the end – surprise surprise – Sturm and Daveona fell out. Sturm told PNG Mine Watch
“It is true that for many years the ESBC supported Mr. Daveona’s efforts to resume mining by BCL. Unfortunately I had to stop funding Mr. Daveona because of his increasing inappropriate behaviour towards Bougainville’s President, Dr. John Momis and myself [sic]. Sadly there was no more sustainable cooperation possible for the benefit of Bougainvilleans. Today, quite obviously, Mr. Daveona follows his very own agenda and private interest which is proved by his recent statements. He does not have any regard for the people of Bougainville or even the Panguna landowner’s future”.
Poor Lawrence.
But not to be outdone it appears Daveona has found an even more dubious outfit to wed landowning communities to – whether they like it or not – the Chinese multinational China Great Wall Industry Corporation (GWIC). According to the Post-Courier, Daveona has signed a Memorandum of Understanding with GWIC. According to reports on Facebook Daveona and his executive colleagues were pissed – “[they were] drunk all night through to day break, at the meeting with the Chinese and the MP for Central Bougainville, a few rough ones misbehaved at the Lynchar guesthouse, paid from the public purse by the MP for Central Bougainville”.
Foreign carpetbaggers getting the locals drunk so they sign contracts, that puts the neo back in colonial.
And GWIC has a very colourful past – some of its achievements include breaking UN sanctions on Iran, and engaging in espionage in the US.
Even Prime Minister O’Neil worked out something was not quite right with these guys when they came sniffing at his door. The Australian writes: “O'Neill's request for a review [of a MOU signed by his Minister with GWIC] follows concerns raised in the US congress and a corruption case in Singapore”.
But what does O’Neill know, Daveona is a much more cunning character!
The Post-Courier tells us that GWIC has been anxiously waiting ten years to come to Bougainville and help the people; they just couldn’t wait any longer! Because that, of course, is what multinationals do, wait around, thinking up ways to help people.
And what exactly is it that this charitable multinational weapons manufacturer wants to do on Bougainville – make profit you ask? No no no, they have come to help teach Bougainvilleans ‘world class’ techniques for mine waste disposal.
This is quite a change in occupation; who would have thought that when not engaged in espionage, sanction-breaking and missile manufacturing that GWIC would go around the world helping indigenous landowners protect their environments.
On the Bougainville Forum a few misguided individuals have suggested – god forbid – that perhaps this Chinese player is planning to buy Rio Tinto out.
What evidence do these cranks have?
Ahh GWIC do it regularly in other countries, ahh China is a growing industrial power hungry as hell for resources, ahhh China has earmarked PNG as a country ripe for looting – i.e it has corrupt leaders, a toothless media, and a demoralised, divided population, just perfect!
But what do we know – Daveona no doubt has a cunning plan! For a century big-money and multinationals have gone around the world looting and pillaging, not once has anyone brought them to heal through superior commercial acumen – which is not to say indigenous people have not successfully employed other means. But that’s because they have never before come up against Lawrence Daveona – the man who wines and dines with Axel Sturm, plies beer to police and allegedly signs MOUs after a night out on the grog with his colleagues.
Watch out China, watch out Rio Tinto, Daveona has your number and is about to squeeze you so mercilessly that your billions of dollars showers upon the people of Bougainville; soon the multinationals will leave Bougainville rueing the day they crossed swords with Lawrence Daveona!! And shortly after flying pigs will do a military style salute overhead.
ramunickel | August 13, 2013 at 2:29 pm | Tags:
Folglich warten die käufer ab und halten sich zunächst zurück.
Wichtig wäre jetzt endlich mal in die Verhandlungen einzusteigen, bin mal gespannt wie die Panguna-Veranstaltung im August verläuft.
"What are they scared of? Rio Tinto/BCL have a huge advantage over any other mining company in the world when it comes to Panguna. No other mining company can compete with them. In pure economic terms it probably has a head start of upwards of $500 million. Why? Because they have done it all before and they know that they can technically do it again. They have all of the data on the mine sections, drill results, geology, and metallurgy stored in a warehouse in Brisbane. They have access to the geologists that were carrying out exploration on the SML when they were chased out. They have all of the data necessary to carry out a pre-feasibility study and design plan.
Anybody else would have to start all over again and it would take them an extra two or three years and hundreds of millions of dollars to drill and define the ore body, interpret the geology, redo the metallurgy , undertake a dozen engineering studies on rock stability, drainage patterns plant design, tailings disposal etc. before they catch up to where BCL already is. So what are they worried about? Why are they trying to legislate their "rights" in the tradition of colonial entitlement when they already have a huge advantage over everyone else?"
PS:Div. Stimmen zum MoU im 707
Und da kommt ....."Immerhin hat Rio Tinto/BCL 2-3 Jahre Vorsprung gegenüber anderen"
ins Spiel.
Ohne BCL: keine schnellstmögliche Wiedereröffnung der Pangunamine, keine substanziellen Steuereinahmen fürs ABG, keine finanzielle Unabhängigkeit u. somit auf absehbare Zeit auch keine Independance von PNG.
Die Entscheidung pro mining u. pro BOC ist längst gefallen, alles was jetzt noch darumherum gequatscht wird sind doch lediglich Scheingefechte. :-)))
Dann sollen die doch endlich mal loslegen.
Quelle: Radio New Zealand International, 13.8.2013
The Prime Minister of Papua New Guinea has defended the withholding of payments to Bougainville, and claims the autonomous government is mis-spending the money it does get. Peter O’Neill says the national government has honoured the first of five 100 million kina payment commitments made last year but it is not happy with the way it was spent.
The President of Bougainville John Momis has accused the national government of delaying payments for years that have been due to it under the Peace Agreement. He says they might sue the national government.
Mweanwhile Peter O’Neill says the next 4 years of payments will be spent directly on infrastructure projects, including resealing and upgrading roads, bridges, airports and the Arawa township.
“We are not pleased - and I’ll say it frankly - with the way the money that we have given has been managed. It has not been spent on the intended purposes which was to build infrastructure on the ground in Bougainville and now our government, as we have the right to do so, we will have hands-on approach in management of those key infrastructures.”
Peter O’Neill says many of the claims in Bougainville for wages were not legitimate.
Wenn jemand böcke hat, könnte man folgendes tun: man versucht die market maker von boc ausfinding zu machen bzw. Deren trading desks. Dann schreibt man Ihnen einen Brief mit folgendem inhalt:
Boc ist kein pennystock
Boc hat feste eigentümer mit rt und png und nur einen kleinen free float
Der free float ist in festen händen
Mit dem Escb werden die interessen der kleinanleger gebündelt
Die nachrichtenlage wird immer besser
Keiner der kleinanleger läßt sich ins bockshorn jagen
Ob ihnen der arsch schonauf grundeis geht
Wenn sie ihren job nicht verlieren bzw. Ihr unternehmen riskieren wollen,
sie nicht lieber ihre short position schließen wollen,
insbesondere bevor einer der anderen marketmaker auf die gleiche idee kommt
Wenn sie so weiter machen, wir uns weiterhin über jede aktie für 40c diebisch freuen ;-)
Oh how the ABC fawned and gooed over Autonomous Bougainville Government (ABG) President John Momis when he announced his ‘revolutionary’ mining legislation early this year.
The ABC headline read “PNG’s Bougainville to Pass World First Mining Law”. Oh yes you read it right, the ABG was going to do what no other government in the world had ever done before, they were going to share mineral rights with the traditional owners. Hoorah!
Except they weren’t and are not planning to – not that the ABC allows the truth to get in the way of a good news story for their Canberra masters – and PNG Mine Watch made this point very clear in Islands Business.
Yes the draft legislation has a few aspirational passages that recognise the traditional landowners; but in the mercenary world of law, its enforceable rights that matter, and in this respect the ABG at all substantive stages during the mine-process has the right overrule landowners – regardless of their views – indeed they even have the power to appoint official landowner associations, now how about that for a power-grab.
But of course PNG Mine Watch would say all this about the mining legislation.
‘Sure’.
But the proof is in the pudding, as the old saying goes.
And the pudding – with a rather bitter center – is a little deal struck by Landowner leader Lawrence Daveona with Chinese weapons manufacturer Beijing Aerospace Great Wall Mineral Investment, who among other things have been allegedly involved in espionage, corruption and the breaking of UN sanctions.
The signed MOU we are told will help landowners implement world class environmental practices at the Panguna mine (yeah right!).
But poor old President Momis wasn’t told.
Was he angry? You betchya.
Radio New Zealand reports:
“John Momis says the deal will probably be ruled illegal under the province’s soon to be passed mining legislation”.
Of course it will be deemed illegal because the legislation hands all the power back to the ABG – are you watching Sam Koana!
And of course, with landowner leaders like Lawrence Daveona many on the ground will say ‘thank god for that’. Unlike his predecessors – Francis Ona and Perpetua Serero – who knew how multinationals woo, corrupt and divide landowners, Daveona has proven more than willing to take money from lobbyists. And in so doing he will only legitimise this ABG power-grab.
All the blood spilt, and it seems Bougainville is going back to square 1.
www.bougainville-copper.eu
Weak mining policies lead to billions lost
By JOHNNY POIYA
Papua New Guinea has been losing billions of kina in mineral resources due to lack of strong policies and capacity to properly monitor and regulate the industry.
Enga Governor and host to the world class Porgera Gold Mine Peter Ipatas in his keynote address to stakeholders during the Mineral Policy and Legislation Division’s regional consultation program in Mt Hagen yesterday said developers were exploiting the mineral sector without any good benefits going back to the country and its people.
He said there was a serious lack of policy direction in the sector, which consequently resulted in a serious lack of socio-economic development.
“The general public’s perception is that the country’s mineral resources are being exploited unjustly without fair reward and compensation to the local communities and landowners on whose land these resources are located. The government’s mining policy is being driven by Industry and Investor interests rather than PNG’s interest resulting in the ‘’theft’’ of our mineral resources,” Mr Ipatas said.
Singling out Enga’s experience with Porgera Gold mine, Mr Ipatas said though the mine extracted 17.88 million ounces of gold, earning a total of K19.58billion during the project life from 1990 to 2012, his province still lacked a proper hospital, jail, and good infrastructure.
“During that time, the Enga Provincial Government received about K204million in Royalties, Special Support Grants and IDP. This is about 1 percent of the total earnings of the mine. About K52million is SSG are still outstanding to the Enga Provincial Government.
“The Porgera landowners, on the other hand have received about K410million as compensation, royalties, SSGs, and other areas. This amounts to about 2 percent of the total earnings of the mine,” Mr Ipatas said.
He said it was important to question whether the total of 3 percent of the earnings was equitable distribution to the landowners and the Enga Provincial Government.
Porgera was estimated to mine 8.98million ounces of gold with a total earning of K3.143billion during the period of mine life from 1990 to 2012, but it produced and earned more than six times than the estimates and its life extended to 2023.
Mr Ipatas said despite mine expansion beyond the original development plans and estimates, there was no review of the Porgera mine’s MDC or MoAs to reflect the change from the original development plan. Vice Minister for Mining Wera Mori said any policy changes that would come after the consultation programs around the region would be done in the interest of the country.
Mt Hagen hosts the highlands regions leg of the Department’s regional forums for the review of mineral policy and legislation and development of new mining sector policies.
The mamose forum will be held in Lae on Friday, then the New Guinea Islands forum is on next Monday and Southern region in Port Moresby on Friday next week.
PNG Mine Watch reporting puts it ahead of the ABC and ABG
by ramunickel
Oh how the ABC fawned and gooed over Autonomous Bougainville Government (ABG) President John Momis when he announced his ‘revolutionary’ mining legislation early this year.
The ABC headline read “PNG’s Bougainville to Pass World First Mining Law”. Oh yes you read it right, the ABG was going to do what no other government in the world had ever done before, they were going to share mineral rights with the traditional owners. Hoorah!
Except they weren’t and are not planning to – not that the ABC allows the truth to get in the way of a good news story for their Canberra masters – and PNG Mine Watch made this point very clear in Islands Business.
Yes the draft legislation has a few aspirational passages that recognise the traditional landowners; but in the mercenary world of law, its enforceable rights that matter, and in this respect the ABG at all substantive stages during the mine-process has the right overrule landowners – regardless of their views – indeed they even have the power to appoint official landowner associations, now how about that for a power-grab.
But of course PNG Mine Watch would say all this about the mining legislation.
‘Sure’.
But the proof is in the pudding, as the old saying goes.
And the pudding – with a rather bitter center - is a little deal struck by Landowner leader Lawrence Daveona with Chinese weapons manufacturer Beijing Aerospace Great Wall Mineral Investment, who among other things have been allegedly involved in espionage, corruption and the breaking of UN sanctions.
The signed MOU we are told will help landowners implement world class environmental practices at the Panguna mine (yeah right!).
But poor old President Momis wasn’t told.
Was he angry? You betchya.
Radio New Zealand reports:
“John Momis says the deal will probably be ruled illegal under the province’s soon to be passed mining legislation”.
Of course it will be deemed illegal because the legislation hands all the power back to the ABG – are you watching Sam Koana!
And of course, with landowner leaders like Lawrence Daveona many on the ground will say ‘thank god for that’. Unlike his predecessors – Francis Ona and Perpetua Serero – who knew how multinationals woo, corrupt and divide landowners, Daveona has proven more than willing to take money from lobbyists. And in so doing he will only legitimise this ABG power-grab.
All the blood spilt, and it seems Bougainville is going
Da ist wohl alles gesagt. Und gleich werden die Käufer mutiger:
Bougainville leader says PNG trying to fragment region
Posted at 23:12 on 13 August, 2013 UTC
The President of Bougainville has accused the Papua New Guinea national government of trying to fragment the region in the lead up to the independence referendum.
John Momis says the Bougainville members in the national Parliament are useless and don’t push Bougainville’s interests.
He says Prime Minister Peter O’Neill is not to be trusted on his argument that paying Bougainville the 100 million kina commitment each year has led to misspending.
Peter O’Neill says he will only pay the rest of the 400 million kina by way of development projects, but Mr Momis says that goes against the principle of subsidiarity and the withholding of funds is due to ulterior motives.
“You know they are deliberately trying to fragment Bougainville which will not happen, they are deliberately trying to undermine the leadership and the people of Bougainville by using our own members, members of parliament. We have four Bougainville members who are totally useless to us they don’t even come to us, they get 45 million between them for pork barrel politicking.”
The President of the autonomous region of Bougainville John Momis says the money should go directly to the autonomous government.
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