Trading Bougainville Copper (ADRs) 867948

New post on Papua New Guinea Mine Watch
                    
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If Bougainville wants Independence it must challenge the economic orthodoxy
by ramunickel

   ‘Until the ABG can raise more of its revenue internally, we will continue to be dictated to by others … It is for this reason that my government in 2010 not only endorsed the previous governments decision to negotiate the reopening of the Panguna mine, but also accelerated [preparations] in the last three years’. President Momis, 31/12/2013

A prophesy on high rotation in the media and social media, claims that Bougainville’s independence and economic resuscitation is directly dependent on the reopening of the Panguna mine, and the possible construction somewhere down the line of a second major mine-pit.

What has not been given much attention by media pundits or academic ‘experts’, is an alternative hypothesis, that has much greater historical evidence to support it.

Rather than facilitating independence – in the sense of Bougainvilleans determining the course of their own economic and political future – mining on Bougainville is the most direct path to dependency.

A large scale mine will, first of all, demand a significant body of industrial materials, and a highly-skilled labour force to operate them. Combined, these necessary inputs will cost many billions to purchase. Although rich in other forms of wealth, no one on Bougainville currently commands the billions in money-wealth needed to buy and manage these assets. Accordingly foreign investment from those who do, will be a necessity.

To woo foreign investors, Bougainville will need to surrender some of its independence. We have already witnessed this. While landowners believe they are the true custodians of the land and all that lies beneath it, the Autonomous Bougainville Government (ABG) has had to draft legislation which assures investors that it, not the people, will be the ultimate one to determine how and when minerals will be used.

Once the investment arrives, it will spark something of construction boom. It is unlikely this will have lasting effects for budding Bougainvillean entrepreneurs. Like with the PNG LNG project, foreign companies with the engineering skills and resources will obtain the lion share of contracts, while a small trickle will go to Bougainvilleans, more out of symbolism than anything else.

The growth of the mine, and mining town, will have a substantial gravitational effect on the formal economy. Those industries that do develop will centre on servicing the mine and its labour force. This happened prior to 1989, as a result when the mine closed Bougainville’s formal economy collapsed, and the much neglected informal economy proved the vital safety net, supplemented to an extent by cash-cropping.

So the reopening of the mine, will give foreign investors direct control over the minerals, and indirect control over the character and fate of the formal economy.

There may be, as some promise, relatively large revenues generated by the mine in the form of taxation and royalties. The ABG will grow in size accordingly, but its growth will be centred on maintaining a governing apparatus that supports the mine and the mine-centric formal economy. Accordingly the ABG will primarily service the interest of a minority, rather than the majority, whose needs will remain serviced by the informal economy and the export of cocoa/copra.

With the ABG financially dependent on the mineral extraction economy, its potential to make independent political decisions will be constrained. Instead it will need to make decisions that suit its foreign bankrollers, to the point where the latter is able to dictate conditions to the ABG. We witnessed this in 1989, as a reluctant PNG state slaughtered its own citizens to appease Rio Tinto, who provided a quarter of the government’s revenues.

This is a very rough alternative hypothesis that challenges the unsupported wisdom currently being championed in the media and by ABG officials, who seem to have drunk the kool-aid supplied by Rio Tinto and the Australian government.

So what is the alternative? First, the tail should not be wagging the dog. The ABG claims it requires a substantial increase in revenues to pay for its existence and only mining can cultivate such revenues.

What about changing the government to suit the economy, not vice versa! Why should the economic structure of Bougainville be taken hostage in order to support a state whose organisational features mimic foreign state-structures, rather than the customary political structures of Melanesia.

Over the next ten years, rather than sacrificing Bougainville’s sovereignty to foreign investors – whether they be of Anglo or Asian origins – perhaps attention could be devoted to inventing a new state structure that harnesses informal sources of political authority, to produce a stable and secure Bougainville, that is less dependent on large sums of taxation.

In order to support the invention of this Melanesian state, attention will need to be devoted to the economic resources Bougainvilleans can command to support its more modest and culturally appropriate structures – i.e. their land, environment, cultural knowledge and labour.

Consideration also needs to be given to the precise economic configurations that could unite these resources – i.e. mixes of agriculture, tourism, and services – so that on the one hand the economic structure of Bougainville is largely owned and managed by Bougainvilleans, while still being buoyant enough to support a Melanesian state structure that could oversee basic forms of social planning and service provision.

Imaginative thinking is clearly needed. Sadly it is not being encouraged. Instead the path to dependency is being advertised in the deceptive garb of mine-fuelled independence, whose true character will become abruptly clear once mining begins, by which time averting course will be impossible without violent upheaval, an outcome nobody wants.
ramunickel | January 2, 2014 at 2:00 pm | Tags: ABG, Bougainville, Environmental damage, Human rights, Landholders, Panguna, Papua New Guinea, PNG development, Rio Tinto | Categories: Environmental impact, Financial returns, Human rights, Papua New Guinea | URL: http://wp.me/pMvf7-2X3  

Jo, so kann man es natürlich auch machen.
Keine Kompromisse! Zurück in die Steinzeit.
Strassen, Schulen, Krankenhäuser, Berufsausbildung, Fortschritt, Wohlstand - wer braucht das schon.
Selbstverständlich hat zuerst Mal der ausländische Investor das Kapital und die Fachkräfte um den Minenbetrieb in Gang zu setzen. Aber dann wird er lokale Kräfte ausbilden, das ist doch logisch. Die Folge: Nach einer gewissen Zeit wird ein Großteil der Anlagen von Menschen der Insel betrieben werden. Sofort wird ein wirtschaftlich prosperierendes Umfeld entstehen, Geschäfte, Zulieferer, Dienstleistung. Und wenn die Regierung ihren Job richtig macht, bleibt auch ein gehöriges Stück der Wertschöpfung bei den Menschen der Insel.
Die im Artikel vorgeschlagene Alternative ohne Mining bedeutet einen quälend langsamen Prozess, gerade so wie er sich jetzt hinschleppt. Denn auch für die Voraussetzungen um mit Landwirtschaft oder Tourismus Wohlstand und Fortschritt zu erzeugen sind alles andere als gut. Auch hier braucht es Kapital und vor allem Fachwissen und beides ist auf Bougainville nicht vorhanden. Hilfe von aussen ist also in jedem Falle wünschenswert und notwendig.
Doch anstelle diesbezügliche Verhandlungen zu führen findet ein internes Hickhack statt ohne jeden Fortschritt. Jahr um Jahr wird verschwendet und nichts kommt voran.
Wir, die Aktionäre können nicht mehr als das eingesetzte Kapital verlieren.
Die Menschen auf Bougainville verspielen ihre Zukunft und die ihrer Kinder.  

Was für ein dummer Artikel,man sollte solchen Leuten das Schreiben verbieten.  

wird zunehmen und spätestens dann wenn die Forderungen nach Unabhängigkeit lauter werden, aber kein Geld da ist, dann werden die Bewohner umdenken.
 

Bougainville 24 | BCL news blog » Autonomous Bougainville Government » Mine ‘catalytic’ to sustainable development says Momis
Mine ‘catalytic’ to sustainable development says Momis  

BOUGAINVILLEANS HOLD THE KEY FOR BOUGAINVILLE’S PROGRESS OR ITS FAILURES

By Aloysius Laukai


The ABG President Chief DR. JOHN MOMIS wants Bougainvilleans to understand that the future of Bougainville is solely in their hands and nobody else.

He made these remarks whilst commenting on the 2014 ABG Budget this week.

President MOMIS said that throughout the political history, Bougainvilleans have always wanted to manage their own affairs.

And he said that the Bougainville Peace Agreement gives the opportunity to do just that.

He said that Bougainville has this golden opportunity to create something completely new and better for her people.

AND that is a Harmonious, Peaceful, and Prosperous society for Bougainville.

President Momis said this can be the envy of our friends and others because many people believe that we can do it.

He said that for this to become a reality, firstly we must have faith in ourselves because without this faith we cannot realize the human potential.

The ABG President also said that creating such an environment is not the responsibility of the Government, but a collective responsibility of all Bougainvilleans.

And this is because we chose to be in this situation and only we can get out of this situation.

http://www.bcl.com.pg/latest-news/...lles-economic-development-momis/  

Werft den Landownern endlich das Geld in den Rachen, das sie sich wünschen, dann kann sich der Wohlstand in Bougainville entwickeln und für uns fallen auch einige Krümelchen ab  

Rio Tinto will zusammen mit BHP Billiton einen Minenplan für die Entwicklung eines der größten, nichtentwickelten Kupfervorkommen weltweit einreichen. Die Konzerne haben die Planungen für das 6 Mrd $ teure Kupferprojekt Resolution in Arizona abgeschlossen, das zu 55% Rio und zu 45% BHP gehört und rund 500.000 Tonnen Kupfer pro Jahr produzieren könnte – ausreichend, um ein Viertel der amerikanischen Kupfernachfrage abzudecken. Die Konzerne schätzen, dass die Ressource für mehr als 40 Jahre Produktion ausreichen könnte.

das würde geringeres  Interesse von Rio Tinto an Panguna bedeuten, denn  der Kupferpreis würde dann erheblich sinken.  

wohl lange genug gewartet - und entscheiden sich jetzt eben für "Resolution" statt für "Panguna".

Und da Chile, China, Peru und weitere Länder auch Kupfer produzieren und in Verbindung mit der Ankündigung des Tapering der FED, wird dann auch der Börsenkurs verständlich.

Im Grunde ist es jetzt egal,  ob übertriebene Forderungen der landowner, ferngesteuerte "Umweltschützer" oder vom steuerfreien Verkauf des mit gefährlichen Chemiekalien abgebauten Goldes profitierende Mekamui und andere kriminelle Elemente diese Entwicklung erzeugten. Im Endeffekt müßen die Bürger vot Ort selbst entscheiden, was sie wollen und wie sie jetzt vorgehen.



 

Weiß jemand wie hoch der Nettoinventarwert (NAV oder auch Net Asset Value) von BOC ist?

Ist jemand unter Euch so schlau und kann diesen Wert anhand der Bilanz bestimmen?

Notfalls könnte man auch den Wert der Beteiligungen heranziehen.
Ich schätze der Wert einer BOC-Aktie dürfte so um die 0,15 AUD liegen, oder?  

 

siehe 09/08/2013 Half Yearly Report and Accounts   :

Total equity   334.677.000 K
A$/Kina ex rate   0,4673
Total equity   156.394.562 A$
No Shares           401.062.500
Total equity/share 0,390 A$

 

Aus den Beteiligungen könnte ja auch noch was werden...
Weiss jemand Einzelheiten über die Art der Beteiligungen?  

Vielleicht hat ja BOC in Bitcoins investiert, oder so....  

Toller Beitrag!  

Nein, ich glaube eher in Kupferprojekt Resolution in Arizona! ;-)  

besorgt mich eigentlich nicht.
Wenn Momis eine politische Lösung endlich finden  und alle Parteien sich offiziell einverstanden erklären würden, würde der Kurs natürlich anziehen. Mir würde es schon reichen.Bis zur tatsächlichen Eröffnung werden  viele Karten ohnehin neu gemischt.
 

...und ich glaube es hat den Anschein das sich Arizona auch schon vorbereitet  : Steven Seagal denkt an eine Kanditatur als Gouveneur. Evtl. um  Probleme mit native americans zu regeln ? ;-)))))))))))))

http://www.welt.de/vermischtes/article123543369/...rizona-werden.html


;-))) ( ja,ja wenn´s nicht so traurig wäre )
 

Würde zeitlich mit dem geplanten JPNCC zusammenfallen.

090114 PM TO VISIT BOUGAINVILLE
By Aloysius Laukai

The Prime Minister of Papua New Guinea, PETER ONEIL WILL visit Bougainville this month.
This was announced by the Bougainville Chief Administrator, CHRIS SIRIOSI this afternoon.
He made this announcement in his weekly radio program aired by New Dawn FM and Radio Bougainville every Thursday evenings.
MR. SIRIOSI said that the Prime Minister will launch the Awareness campaign on the Bougainville Peace Agreement during his visit to the region.
He said that he will arrive on January 27th, 2014 and leave Bougainville after the 29th of January.
MR SIRIOSI called on the people of Bougainville to prepare well for this visit which is important for Bougainville.
He said that the PM will travel to Central and South Bougainville with the ABG President and the two leaders will discuss issues affecting the two governments.

      Ends§  

Lese den Namen Dr. Kristian Lasslett zum ersten mal, weiß da jemand einen Zusammenhang?

http://ramumine.wordpress.com/

Employing Bougainville’s Cultural Heritage to Repair Rio Tinto’s Reputation is Wrong

Dr Kristian Lasslett

My views on the Rio Tinto subsidiary, Bougainville Copper Limited (BCL), are strong but grounded in a large body of evidence which was collected over a period of several years. Based on interviews I conducted with BCL’s senior management, PNG government officials, and Australian High Commission staff, which were corroborated by an extensive review of BCL internal records, I have concluded that the Rio Tinto subsidiary, BCL, was directly involved in military operations on Bougainville that almost certainly constitute crimes against humanity.

As a result Rio Tinto should, in my view, at the very least pay significant reparations to Bougainville – as it is obliged to do in international law – and if there was a modicum of equality in the administration of criminal justice, there would be a criminal investigation into their conduct. While people are prosecuted for stealing a can of soft drink, it appears multinationals accused of involvement in the worse crimes known to humanity, on compelling evidentiary foundations, are above the law.

It is an example of the hubris of power that BCL has registered its intention to return to Bougainville, much to the horror of local communities whose memories of the atrocities are still vivid and painful. Worse still is the support lent to BCL by the Autonomous Bougainville Government. Bougainville’s President sat in Cabinet during 1988-1992, and knows the inordinate pressure BCL’s Chairman placed on his government to use force on Bougainville; he must also be aware, to some extent, that as PNG troops torched villages and murdered civilians they drove around in BCL trucks, used BCL communications equipment and then returned to BCL mess halls for a hot meal – that is, if we are to believe the testimony of BCL’s own managers, eyewitness accounts from villagers, BCL’s internal records and evidence given by military and state officials from the PNG government, including Momis’ own account.

The company has denied accusations of complicity. These denials would be embarrassing given the awesome body of evidence against them, were we to live in democracies where the mass-media played a remotely responsible role. Sadly we do not.

The mainstream news-agencies, with honourable exceptions, have given ample space to these denials, without reserving the same amount of space for the large body of documentary and testimonial evidence detailing their complicity in the criminal military operations.

Some journalists, in addition to regional scholars, have shown extreme scepticism, or worse still bemused indifference towards the accusations against BCL, without even the slightest attempt to consult or relay the significant body of primary data evidencing these allegations.

Although nothing BCL does today can really equate in abhorrence with the previous actions recounted to me by its General Managers, nevertheless its recent PR offensive at the very least stinks. It is classic cheque book diplomacy.

One example is their new website BCL 24. According to the company: ‘The objective of the blog is to feature articles about Bougainville, news of company activities and writing by Bougainvilleans’.

Since its launch the website has mainly published writings on Bougainville, with a slant towards history, culture and the arts.

Who could begrudge more attention being given to the wonderfully rich cultures and histories of the people of Melanesia; as an unashamed fan and devotee of this region I certainly support initiatives that celebrate internationally Bougainville’s culture.

However, in the case of BCL 24 there is a little more to it than this. Alongside every piece of writing, and every rich examination of Bougainville’s culture is the header Bougainville Copper Limited 24. How many of those featured in these posts, I wonder, would really want their artistic contributions or history to feature on a blog run by a company who, according to testimony given by its own management, helped facilitate military operations that led to the torture and execution of their compatriots? How many of those smiling faces featured in the many photographs on the website, proudly displaying their heritage and island, would consent to their image giving credibility to a company who met with military commanders, and even suggested targets, as the armed forces pounded villages from the land and air (that is, if we are to believe BCL’s meeting minutes)?

To use the example of celebrated Bougainvillean artist Charleen Morris. Her visual imagination is awe inspiring and her work is among some of the most dynamic and thought provoking in the region today. Charleen is also a courageous and outspoken critic of BCL, a company which she holds responsible for the great suffering and destruction inflicted on her island during the early years of the war.

This did not stop BCL 24 from posting her work and story – whitewashing her loud criticisms of the company – on a website emblazoned with BCL’s name. This diminishes both her art and dedication to the causes of social justice and human rights.

In light of the gravity of BCL’s past conduct this is arguably a trivial matter. Perhaps, but it displays in vivid detail that BCL is prepared to commandeer the names, faces, history and culture of this majestic and defiant island, in order it would appear to boost its own damaged reputation.

Perhaps not all of those portrayed in these articles and images would object, but a few fair, such as Charleen, I suspect would.

BCL claims it has learnt from this past – which it ironically denies – the jury is out on this one.  

Role: Fellows & Executive Board

Dr Lasslett is the ISCI Fellow responsible for the Papua New Guinea section of this site. He graduated from the University of Technology, Sydney in 2004 with a First-Class honours degree in Law and a Bachelor of Arts in Communications. He then went on to complete a PhD at the University of Westminster. Dr Lasslett is currently a Lecturer in Criminology at the University of Ulster and a member of the Social and Policy Research Institute. Prior to that he taught at the University of Westminster and Kings College London. Dr Lassletts research focuses on the political economy of state crime and civil conflict. He has conducted extensive field work on the Bougainville crisis in Papua New Guinea, and has published papers on state crime, corporate citizenship, scientific method and criminological theory in leading international journals. Presently Dr Lasslett is carrying out research on mining, conflict and civil society; natural disasters as state crime and international political economy.

http://statecrime.org/person/kristian-lasslett/
 

http://www.statecrime.org/testimonyproject/bougainville#chapter1  

https://www.google.com/...amp;gws_rd=cr&ei=axvPUs3dGsqNtQaBloHgAQ