Trading Bougainville Copper (ADRs) 867948

man,die sitzen auf 70 Mrd. USD...  

In Chile lassen es sich die Bergarbeiter aus den Kupferminen gut gehen. Sie fahren Sportwagen, tragen teure Uhren und Hugo Boss. Zu verdanken haben sie das dem Rohstoffhunger Chinas. Der Boom birgt jedoch Risiken.


http://www.handelsblatt.com/finanzen/...za-seite-all/8705062-all.html  

............der sieht wohl Morumbis Felle davonschwimmen,das signalisiert auch der Morumbi Chart  ;-)))))))

...stehen ab sofort auf www.bougainville-copper.eu  !

Papua New Guinea holds new Bougainville peace talks, 10 years on from end of civil war
by ramunickel
Liam Fox | Australian News Network

Papua New Guinea politicians, academics and community leaders have gathered in the capital Port Moresby to discuss the future of the country's autonomous province of Bougainville, more than 10 years after the signing of the island's peace agreement.

Signed in 2001, the Bougainville Peace Agreement formally ended the island's bloody civil war in Papua New Guinea - a decade-long conflict that had been sparked by local opposition to the Australian-owned Panguna copper mine.

The agreement's three main pillars were to grant Bougainville a high degree of autonomy, the de-militarisation of Bougainville, including weapons disposal, and a future referendum on independence from PNG.

Initially there was plenty of help from the PNG government and the international community to implement the agreement, but that has since fallen away.

Bougainville's President John Momis told the gathering negotiations with the PNG Government have dropped off and talks about funding have broken down.

"I think it is a mistake to expect us to carry out huge responsibilities with meagre resources, with a bureaucracy that does not have the capacity," he said.

"We are coming out of the ashes of war, dealing with a society that is highly divided."

Australian academic Anthony Regan, who is advising the Bougainville government, told the meeting a number of factors have caused this slow-down in interest in the implementation of the agreement.

Mr Regan, who helped to draft the peace agreement, and Bougainville's constitution, says there has been a high turnover of PNG politicians since the agreement was signed and most of those initially involved have now moved on.

Funding constraints

The other main problem Mr Regan recognised was financial, saying that "We're now in arrears by 188 million kina."

The issue will only get more important as Bougainville takes tentative steps toward reopening the Panguna mine and as the window for the referendum on independence opens in 2015.

According to the agreement, talks about the referendum must be held between 2015 and 2020.

Leaders of the gathering in Port Moresby are hoping to organise another meeting in Bougainville's Buka or Arawa later this year, to generate momentum on the issue.

PNG's deputy prime minister, Leo Dion, was supposed to appear at the meeting, but was replaced by vice minister Joe Sungi, alongside other government representatives.

The meeting continues on Friday and the issue of the Panguna gold and copper mine is expected to feature on the agenda, in combination with the Bougainville government's efforts to develop a mining policy.

ramunickel | August 30, 2013 at 8:59 am |  

... lohnt es sich nun noch hier drinne zu bleiben oder nicht? Bin mal bei 30Cent eingestiegen und langsam verliere ich bei den -10% die Lust an der Aktie

 

Sorry,
was machst du in diesem Invest?

Zeitfresser!
 

nur selbst entscheiden. Persönlich meine ich, zum Zocken - z.B. zu 30 cent 'rein und zu 1 € wieder 'raus - eignet sich eine Aktie nicht - und BCL schon gar nicht, weil alles vor Ort entschieden wird.

Allerdings muß ich auch sagen, dass ich von dieser Art Aktienzocker grundsätzlich aber auch gar nichts halte, da sie auf Kosten anderer, ehrlicher Anleger leben wollen. Zu 30 cent 'rein und zu 1€ 'raus Zocker sind - nach meiner 50 jährigen Börsenerfahrung - in der Regel nichts anderes, als der Unehrlichkeit nahestehende Egoisten, die dem Betrüger schon nahe stehen, da es ihnen gleichgültig ist, überteuerte Aktien an unbedarfte Anleger weiterzureichen, wie das berühmte brennende Streichholz, bei dem der letzte verbrennt.

Und was bedeutet das für BCL: Hier ist doch alles klar. Einfach dieses Board lesen und selbst entscheiden.  

.......... 10 years on from end of civil war

http://www.abc.net.au/news/2013-08-30/...eace-agreement-talks/4923760

"The meeting continues on Friday and the issue of the Panguna gold and copper mine is expected to feature on the agenda, in combination with the Bougainville government's efforts to develop a mining policy."  

diesen Beitrag interprtiere ich mal so, obwohl die Zahlen nicht stimmen.....:(((
der Käufer, der die 100 k zu 0,56 AUD kaufen will, investiert ca. 37 T €
Stimmt das?



Ich schliesse mich der Meinung #17333 an. Ich halte von diesen Zockern auch nichts. Aber sie werden um mit den Worten von Kostolany zu sprechen:
Hin und her macht Taschen leer....
irgendwann die Strafe erhalten die ihnen gebührt....

 

.........waren für wichtiger als das "Last Panguna Meeting"

Vielleicht konnte dort ja  O`Neill in die Zange genommen werden ein paar $$$$ locker zu machen. ;-)))

zumindest ask, aber auch bid wieder besser.
bitte mit dem nächsten werfen noch warten.
okay? lach  

Regina Kauori on re-opening Panguna mine
Mekamui News

Regina Kauori who is the Youth Co-ordinator for Kieta District and working with North Nasioi Council Of Elders told Mekamui News in an interviewed in her office in Arawa that reopening Panguna mine is not the answer to the youths of the District.


Regina Kauori, Youth Coordinator

She says the youths grown up during the crises have some kind of pain and feelings to what the big hole up there brought to their parents, relatives and brothers and sisters.

When working with the Youths in the District the youths told her that Panguna mine should remain close and leaders should talk about other ways towards the Region"s economic recovery. We have many resources apart from mineral resources.  

Panguna issues threaten peace process
by ramunickel
Winterford Toreas | Post Courier

CENTRAL Bougainville MP Jimmy Miringtoro and the chairman of the Panguna Mine Affected Landowners Association, Lawrence Daveona have been called on to immediately cease all negotiations currently underway between the Panguna landowners and a Chinese business firm, Beijing Aerospace Great Wall Mineral Investment Ltd.

While sounding this call yesterday, an irate former combatants’ spokesman Glynn Tovirika said the move taken by Miringtoro and Daveona is threatening the peace process in Bougainville.

“Daveona and Miringtoro must immediately stop this because they are threatening the peace process in Bougainville, and the former combatants are not happy with what these men are doing.

“You are causing confusion and division amongst the people of Bougainville especially the Panguna landowners.

“This MoU signed is misleading the people. They are saying this agreement is for an agriculture project. But inside, the agreement is different altogether. The title is about re-opening Panguna mine.

“What Miringtoro and Daveona are doing, as seen by the former combatants, is that they are threatening the peace process. What they are doing is very disappointing to us.”

He said the Autonomous Bougainville Government and other stakeholders currently involved one way or the other in trying to find an amicable solution towards this mining issue should have been consulted before the signing of this MOU between the landowners and the Chinese company.

Mr Tovirika bluntly added that the former combatants do not want the Chinese to be involved in anything concerning mining in Bougainville.

He said they can only be allowed to participate in other developments like road and bridge constructions, hydro electricity and in other areas not related to mining.

Mr Tovirika also blasted the two men saying: “The crisis has caused the death of many Bougainvilleans so this mining issue should be handled in a way that will not jeopardise the peace process. However, we are seeing that these two men are just coming in and causing confusions amongst the people.

“Since Mr Miringtoro became a member, he has not given any money for finding solutions towards addressing the Panguna issue. The ABG is sacrificing a lot, using the limited money, of course given to us by the National Government, to address this issue.

“Since day one these men were never involved in any meetings concerning the re-opening of the mine. Miringtoro should be concentrating on delivering services to the people. Most of our feeder roads have deteriorated. Our health centres do not have medicines.

“Mining is a very sensitive issue so if Miringtoro wants to be involved, he must come through ABG and other stakeholders to talk about this issue.”

Mr Tovirika said these two men have already been warned by the former combatants not to take further steps towards implementing the MOU.

He is also calling on them to consult and work with the ABG on any issues concerning the re-opening of the mine.

Mr Tovirika summed up saying it is the people in Bougainville who will be making the decision concerning the re-opening of mine, adding that the ABG is only facilitating this process.

ramunickel | September 1, 2013 at 3:14 pm | Tags:  

Panguna issues threaten peace process
by ramunickel
Winterford Toreas | Post Courier

CENTRAL Bougainville MP Jimmy Miringtoro and the chairman of the Panguna Mine Affected Landowners Association, Lawrence Daveona have been called on to immediately cease all negotiations currently underway between the Panguna landowners and a Chinese business firm, Beijing Aerospace Great Wall Mineral Investment Ltd.

While sounding this call yesterday, an irate former combatants" spokesman Glynn Tovirika said the move taken by Miringtoro and Daveona is threatening the peace process in Bougainville.

"Daveona and Miringtoro must immediately stop this because they are threatening the peace process in Bougainville, and the former combatants are not happy with what these men are doing.

"You are causing confusion and division amongst the people of Bougainville especially the Panguna landowners.

"This MoU signed is misleading the people. They are saying this agreement is for an agriculture project. But inside, the agreement is different altogether. The title is about re-opening Panguna mine.

"What Miringtoro and Daveona are doing, as seen by the former combatants, is that they are threatening the peace process. What they are doing is very disappointing to us."

He said the Autonomous Bougainville Government and other stakeholders currently involved one way or the other in trying to find an amicable solution towards this mining issue should have been consulted before the signing of this MOU between the landowners and the Chinese company.

Mr Tovirika bluntly added that the former combatants do not want the Chinese to be involved in anything concerning mining in Bougainville.

He said they can only be allowed to participate in other developments like road and bridge constructions, hydro electricity and in other areas not related to mining.

Mr Tovirika also blasted the two men saying: "The crisis has caused the death of many Bougainvilleans so this mining issue should be handled in a way that will not jeopardise the peace process. However, we are seeing that these two men are just coming in and causing confusions amongst the people.

"Since Mr Miringtoro became a member, he has not given any money for finding solutions towards addressing the Panguna issue. The ABG is sacrificing a lot, using the limited money, of course given to us by the National Government, to address this issue.

"Since day one these men were never involved in any meetings concerning the re-opening of the mine. Miringtoro should be concentrating on delivering services to the people. Most of our feeder roads have deteriorated. Our health centres do not have medicines.

"Mining is a very sensitive issue so if Miringtoro wants to be involved, he must come through ABG and other stakeholders to talk about this issue."

Mr Tovirika said these two men have already been warned by the former combatants not to take further steps towards implementing the MOU.

He is also calling on them to consult and work with the ABG on any issues concerning the re-opening of the mine.

Mr Tovirika summed up saying it is the people in Bougainville who will be making the decision concerning the re-opening of mine, adding that the ABG is only facilitating this process.  

 

This week I sent the following document to the Australian Securities and Investments Commission, the Financial Conduct Authority of the United Kingdom, and the U.S. Securities and Exchange Commission.  I would welcome each of you to read it, consider it in light of this post, and inform others about the need to make a simple proposal:  if Mabo and Wik establish the legal framework to put a stake through the heart of the Roman conquest doctrine of terra nullius than isn’t it time for the doctrine to be retired once and for all?

Think about it.



An Open Letter to the ASIC, FSA, and SEC Re: Rio Tinto and Bougainville Copper Ltd.

Copied to Global Reporting Initiative, Transparency International, International Council on Mining and Metals, World Bank, and IFC

August 15, 2013
Sirs,

I have had two opportunities in the past 12 months to visit the Panguna Mine, the Arawa village and the Six Mine Lease Areas (SMLA) of the property formerly operated by Bougainville Copper Ltd (‘BCL’, majority owned by Rio Tinto with 53.8% of the issued shares).  Most recently, I spent two days at the mine on August 12-13, 2013.  Given the fact that both BCL and Rio Tinto report to their shareholders that, since 1989, they have not been capable of accessing the mine site for security reasons, I felt that it would be helpful to provide you and their shareholders with information that may be helpful clarification to material statements made by both companies.

Rio Tinto’s 2012 Annual Report has a footnote on the BCL project on page 206 which indicates that it’s incapable of safely accessing the mine site.  Rio’s Annual Report preamble statements about The Way We Work (page 14) are inconsistent with direct observations made during my visit to the mine, overburden deposition, and tailings discharge in the only major western riverbed at the Panguna Mine in the Autonomous Region of Bougainville, Papua New Guinea.  Dislocated communities, significant health and safety issues, and profound environmental degradation are evident everywhere.  While it would be convenient for the companies to attribute this to the conflict and post-conflict incapacity to manage conditions at the mine, the physical evidence of mining practice suggests that pre-conflict operations neglected to take appropriate consideration of Rio’s own stated standards.

Figure 1.  An aerial view of the BCL Panguna mine site.  From the mine pit to the end of the lower tailings is approximately 18km and at its widest is about .75km.  The diversion of the river around the mine site rejoins the former natural river bed below the Overburden primary deposition and diverts not more than 40% of the natural river flow (which now runs blue with copper beneath the overburden and through the tailings).


The following footnote is reproduced from Rio Tinto’s 2012 Annual Report.

43 Bougainville Copper Limited (BCL)

Mining has been suspended at the Panguna mine since 1989. Safe mine access by company employees has not been possible since that time and an accurate assessment of the condition of the assets cannot therefore be made. Considerable funding would be required to recommence operations to the level which applied at the time of the mine’s closure in 1989. An Order of Magnitude study undertaken in 2008 indicates that costs in a range of US$2 billion to US$4 billion would be required to reopen the mine assuming all site infrastructure is replaced. The directors consider that the Group does not currently realise a benefit from its interest in BCL and therefore BCL information continues to be excluded from the financial statements. BCL reported a net loss of US$2 million for the financial year (2011: net loss of US$2 million). This is based upon actual transactions for the financial year. The aggregate amount of capital and reserves reported by BCL as at 31 December 2012 was US$137 million (2011: US$139 million).

The Group owns 215,920,089 shares in BCL, representing 53.8 per cent of the issued share capital. The investment of US$195 million was fully provided against in 1991.  At 31 December 2012, the number of shares in BCL held by the Group, multiplied by the share price as quoted in the Australian Securities Exchange, resulted in an amount of US$111 million (2011: US$164 million).

This footnote represents the only material disclosure regarding BCL in the Annual Report.  As is evident, no mention is made of any liabilities that may arise from a closer examination of several important facts surrounding the Panguna Mine’s operation and cessation of operations.  These include:

a.       Unquantified environmental remediation costs.  To consider re-opening the mine under rudimentary compliance with global environmental best practices would entail reclamation of land that could far exceed the estimated costs in the 2008 Order of Magnitude study.  Given the affected watershed, surface and groundwater damage covers an excess of 18km at depths of over 100m in many locations (Figure 2).

Figure 2.  The Middle tailings deposit completely filling the valley and riverbed.  The riverbed field of view in this image is approximately 3km.




b.      Management of landowner claims.  To date, the landowners and ex-combatants have identified several claims against the companies that have not been adjudicated by any court of competent jurisdiction.  In the event that BCL or Rio Tinto are exposed to prosecution for these matters, civil and criminal liabilities arising therefrom could represent material impact on performance.
c.       The legality and corporate complicity with the formation of the 1967 Bougainville Copper Act which exists as a supra-Constitutional agreement affording Bougainville Copper Ltd rights in direct conflict with the Constitution of the Independent State of Papua New Guinea.  As evidenced in related cases (including inquiries into Indigenous Rights in Australia), this unilateral agreement benefiting BCL’s interests over those of the right holders under the Organic Law of Papua New Guinea could be subject to challenge potentially opening inquiries into Fraudulent Inducement.  This observation is made from both the facts surrounding the establishment of the Act as well as the incapacity for local landowners to fully understand the structure and consequences of the Agreements into which they entered.  Should improprieties be found, BCL and its shareholders could be liable for considerable financial damages including, but not limited to, complete remediation of the sites impacted by the mine.
d.      Securities reporting compliance.  Shareholders have been inadequately informed as to the nature of the assets of BCL and may have economic harm arising therefrom.

At present, the Autonomous Bougainville Government is being advised on its proposed new Mining Act by Australians (including ANU's AusAID funded Anthony Regan) who are advocating for many of the status quo pre-conflict conditions and the possible reinstitution of the conditions similar to the 1967 Bougainville Copper Act.  With no capacity to consider this advice in light of global best practices (another risk of Fraudulent Inducement), the interests of the companies are being advocated at the expense of a fully transparent, globally informed process.  Most problematic is the fact that the negotiations including the companies are being done without competent and complete understanding of the facts on the ground.  A simple example of this is the reported Asset Value of property at the mine.  No single building on the mine site is intact.  No operational equipment remains on the mine site.  The 2010 Annual Report estimated Plant & Machinery depreciated value of PNG K 296,094,000 is grossly inflated.  The most intact building on the site is pictured in Figure 3 below.  Metal is being sold as scrap and infrastructure damage (including considerable landslides) make the asset estimates grossly inflated.

Figure 3.  A view of the location of ball crushers and concentrators. At this location, only one defunct crusher remains on its stand with the others destroyed for metal salvage.  Twenty four years of metal salvage has left the remaining structures damaged beyond reasonable repair.



Setting aside the considerable questions surrounding the establishment, operation, and violent cessation of operations of the Panguna Mine, it is important to note that the companies and their shareholders can now benefit from direct, on the ground observations and photo documentation.  As such, in accordance with the reporting standards set forth by Australian, United Kingdom and United States regulators, it is important for the companies to more accurately state their condition with respect to the Panguna Mine and offer a more realistic assessment of their asset and liability condition.

Given the recent trading activity stimulated by press statements regarding the possible re-opening of the Panguna Mine, it is important that regulators closely monitor this situation.  While regulators and the corporations involved may continue to seek refuge in the reasonability of their defense of misleading and erroneous statements due to their limited access, the availability of that access to an independent third party severely curtails the assertion of insufficient visibility.

I would strongly recommend that an independent inquiry into the matters articulated above be commenced as failure to do so may lead to further damage to shareholders’ interests and those of the affected communities.  I will be delighted to offer a more detailed assessment as and when required.

Respectfully Yours,
 

http://www.rnzi.com/pages/news.php?op=read&id=78738

...............is about the Panguna mine

Posted at 17:14 on 01 September, 2013 UTC

The chairman of the group representing landowners around the Panguna mine in Papua New Guinea’s Bougainville says an agreement with a Chinese company has nothing to do with mining.

There was widespread anger after news a memorandum of understanding had been signed by the landowners’ chair, Lawrence Daveona and a Chinese company - Beijing Aerospace Great Wall Mineral Investment.

The autonomous Bougainville government believed it involved plans to re-open mining at Panguna without its approval, but Mr Daveona says that is not the case.

He says the MOU is about tourism, agriculture and rehabilitating land that has been wrecked by tailings.

   “I would like the people of Bougainville to benefit first in agriculture and tourism. I made that very clear during our discussions and unless I see people of Bougainville benefitting first then I won’t be talking about the re-opening of Panguna. That is my stand.”

Lawrence Daveona.

News Content © Radio New Zealand International
PO Box 123, Wellington, New Zealand

Sehr interessant - vielen Dank für den Beitrag. Hast Du dazu auch eine Quellenangabe?  

schau im 707 Club Forum  

E

Bougainville war ‘the result of colonialism’ and ‘stolen rights’
by ramunickel
Toa Sime via FaceBook

Former Bougainville Revolutionary Army Commander, Sam Kauona says, the 10-year bloody conflict which claimed the lives of hundreds of Bougainvilleans, Papua New Guineans, as well as Solomon Islanders was the result of colonialism.

And he says current laws on Bougainville must be changed before any mining activities are allowed to take place.

Mr. Kauona, describes Papua New Guinea's current mining laws as 'Stolen Rights Laws' which were adopted from Australia, and must be replaced.

He says the loss of lives and bloodshed were in fact sacrifices for indigenous people to buy back all these 'stolen rights' .

Under the Mining Ordinance Act of 1928, which was later amended by the colonial government and called the Bougainville Copper Agreement 1967, stipulates that all minerals six feet underground are crown property.

The amended Bougainville Copper Agreement 1967, allowed Bougainville Copper Limited to extend its prospecting authorities, mining and land leases, as well as equity and shareholdings.

However, no shares were given to landowners on Bougainville.

Mr. Kauona says these laws are the 'Stolen Rights Laws' which protected legalized stealing by Australia.

"These laws allowed legalized stealing by Australia at that time. When the Bougainvilleans resisted against BCL and the government of PNG, we did not know that we were fighting against the laws. Panguna Mine was just the manifestation of these laws. That's why when we fought, we were fighting against colonialism.

We thought we were fighting with Papua New Guinea. No! Actually, we were fighting against those colonial laws.

If you see the history of Bougainville and Papua New Guinea, we have never been enemies. We were forced into a war that we did not want to fight. But, bloodshed occurred in this war and lives were lost. These sacrifices have now given us the power, strength and courage to get back all these rights today." (Translated from Tok Pisin)

ramunickel | September 2, 2013 at 1:04 pm | Tags: Australia,  

http://bougainville.typepad.com/newdawn/2013/08/...-has-been-def.html

The Chinese are already major shareholders in BCL's parent company, Rio Tinto.

Posted by: Ebon | 02 September 2013 at 02:00 PM
Paul

We have to speak on the final forum on Panguna Negotiations about this questions:
1 What will we do if the company Rio Tinto LTD. sells the BOUGAINVILLE COPPER LTD. shares to the Chineese Government?
2. What will we do if the company BOUGAINVILLE COPPER LTD. sells its Bougainville investments to the Chineese Government?

BID 0.58 AUD