Trading Bougainville Copper (ADRs) 867948
By Aloysius Laukai
As the ABG continuous to progress with its Draw down of Powers that creates its own Departments, today it signed two agreements that undermines its own existence and growth according to a former BRA Commander in North Bougainville.
He told New Dawn FM that the signing of the MOU between the National Government"s State owned Enterprises WATER PNG and National Broadcasting Corporation"s, Bougainville branch in Buka signals a new era for Bougainville"s future progress.
According to the former BRA Commander, who wants to remain anonymous, this trend if not controlled will completely dis-empower the ABG as a democratic and Independent Government for the people of Bougainville.
The former combatant said that restoring Government services should have been done longtime ago and suddenly fast-tracking National Government Departments on the eve of the Bougainville referendum was suspicious.
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Investor Briefing: Bougainville Copper Limited
Ticker: BOC
Introduction
This briefing provides investors with information regarding the shareholder resolutions which the Australasian Centre for Corporate Responsibility proposes to move at the 2014 annual general meeting (AGM) of Bougainville Copper Limited (BOC).
BOC is a majority owned but separately listed subsidiary of Rio Tinto. It previously held a lease and operated the Panguna mine in Papua New Guinea (PNG), potentially still one of the largest copper and gold mines in the world. The current situation is: the mine has been idle since armed conflict broke out over its operation in 1989, the lease has expired, an application to exercise a right of renewal provided for in PNG central government law has not yet been granted and the company does not have access to the site. There is currently talk between landowners, the Autonomous Bougainville Government, the central PNG government (ABG) and BOC with a view to reopening the mine.
In order to maximise the prospects of the lease being renewed, the mine being reopened and then operated successfully over the long term , the resolutions call on BOC to:
•§join/become a signatory to a number of international ‘ good corporate citizen’ initiatives .
BOC’s largest shareholder Rio Tinto has committed to these initiatives so we presume it will support this resolution;
•§commit to ensure environmental rehabilitation is carried out in accord with the terms of reference currently being developed by the UNEP in cooperation with the ABG.
An amount of KINA 22m was provided for in the 2012 accounts for ‘compensation, rehabilitation and stabilisation’, approximately $AUD 10m . The board states such an amount was adequate to cover claims for which the company may be liable. Much higher estimates of environmental remediation costs alone have been canvassed as high as $AUD 1b. An observer attending the site in 2013 disputed the accuracy of BOC’s past environmental remediation cost estimates.
•§invite an independent jurist of outstanding achievement, to make a full enquiry into the involvement of the company in the counter-insurgency operations conducted around the time of the mine closure, make recommendations as to appropriate redress for any past wrongdoing, release the resulting report for public scrutiny.
As a result of the war and the blockade, approximately 10-20,000 people died. During the civil war, villagers were subjected to mortaring (including white phosphorous rounds), aerial bombardments, assassinations, rape, extra-judicial killings, torture, and the strategic denial of medicines and humanitarian assistance. Such actions took place both during 1989, and after our company had left the island;
It appears from statements of both PNG Government officials and our own executive staff that the management of our company was conducted in a manner which involved our company in the provision of material assistance to this counter-insurgency in the form of provisions, messing facilities, accommodation, communications equipment and transport.
It is unclear whether the KINA 22m provision for ‘compensation, rehabilitation and stabilisation’ includes allowance for any potential claims that might be submitted relating to the deaths and injuries that occurred during the armed conflict in relation to the operation of the mine;
•§ensure that any proposal to restart the mine should await, recognise and address the outcomes of that enquiry and commit to obtaining free, prior and informed consent (FPIC) particularly of the communities closest and most exposed to the impact of the mine.
Principles for Responsible Investment
This section excerpts the Principles that are directly related to this engagement. We invite signatories to assess the extent to which support for the resolution might improve demonstrated commitment to these principles. By joining ACCR signatories could further enhance their effectiveness in implementing the principles.
Principle 2: We will be active owners and incorporate ESG issues into our ownership policies and practices.
Please exercise your voting rights and support the resolutions which commit BOC to participating in three international "good corporate citizenship" forums and spell out the implications of the commitments membership of these forums involves.
Principle 3: we will seek appropriate disclosure on ESG issues by the entities in which we invest.
Please ask BOC to disclose further details of the adequacy of its KINA 22m provision for ‘compensation, rehabilitation and stabilisation’ in the face of other estimates orders of magnitude higher.
Civil Society
The ACCR has collaborated with member organisation Jubilee to develop and frame this resolution.
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allerdings seine art der konfliktbehandlung mit veröffentlichen
von klardaten (name, anschrift etc.) von nekro UND
zudem übles pöbeln und beleidigen, sowas hat hier NULL raum
und insofern kann ich nekros handlung VOLL verstehen!
ausserdem gibt es ja genug mitglieder in axels club, so dass
viele bei wirklich interessanten neuigkeiten dies hier posten könnten.
sollte sich da mal endlich was regen auf der insel.....
dann sehen es eh alle im kurs! insofern..... der axel wäre nun
dran sich zu entschuldigen! aber sowas von.......
etwas mehr tolleranz wüde ihm und den anderen hier nicht schaden.
wie heist es so schön. wer von euch ohne sünde ist.der werfe den ersten stein.
By ROMULUS MASIU
THE Panguna Landowners Associa-tion executives have strongly denounced the manner in which the Autonomous Bougainville Government and Bougainville Copper Limited (BCL) collaborated and brought the BCL reconnaince team to Arawa before the proposed compensation.
Among the team are two representatives from Rio Tinto.
Special lease mining chairman Lawrence Daveona said this and strongly condemned the actions of the ABG and BCL.
“These people do not have any culture and they think they can turn a blind eye to what happened on Bougainville. They think they can come to Bougainville, especially Arawa without first paying ‘bel kol’ to the people. Many Bougainvilleans died as a result of BCL ignoring the landowners demand for fair and equitable compensation for the environment destruction. We want fair and equitable benefit sharing from our natural resources,” Mr Daveona stated.
Mr Daveona who met with the four men reconnaince comprising of BCL and Rio Tinto in Arawa yesterday said it is now clear to the landowners, especially SML that ABG and BCL will use whatever it’s available at hand to suppress the landowners and the people of Bougainville.
“One of the methods is that they think they can use bullying tactics to drive the re-opening of the Panguna. We lost a lot of lives and we need to carefully address all the underlying issues and come to amicable solution with regard to the reopening of the Panguna Mine. Landowners will have a final say on whether the mine will be reopened. Therefore, no stone must be left unturned and address all issues, including benefits sharing, business spin offs, employment opportunities for Bougainvilleans and other issues that may affect the future operations of the company. We do not want to repeat the history that happened concerning the Panguna Mine.” Mr Daveona added that all important stakeholders must bear in mind that Panguna mine is very sensitive issue.
“Our people at Panguna have been blaming the landowner executives that we are pushing for the reopening of the Panguna Mine. It is the ABG which is trying to bulldoze the re-opening of the mine. Not landowner executives’ issues are the welfare of our people. The relocation, housing, compensation, fair benefit sharing for all Bougainvilleans, employment opportunities, business spin offs and others.”
“Lastly but not the least, the ABG and BCL, must bear in mind that the war is not over yet. The US$10 billion compensation demand still stands. Furthermore, we have resolved that the BCL will be treated as other interested investors. No special treatment will be given to them. No special treatment will be given to BCL. BCL will meet all our demands before they (BCL) set foot on Bougainville,” Mr Daveona told the Post-Courier in Arawa.
By ROMULUS MASIU
THE reconciliation (bel kol) being organised by Rio Tinto and Bougainville Copper Limited to Bougainvilleans should not be done only in Central Bougainville but throughout the island.
A concerned Bougainvillean and chief of South Bougainville, Paul Lapun made the call yesterday as BCL and Rio Tinto are starting to do the ground work to sort out the Bel Kol with Bougainvilleans over the Panguna Mine which sparked off a decade long war that saw more than 15, 000 lives lost on both sides of the conflict.
“It is very interesting to note that BCL is planning a big reconciliation to include up t0 3000 locals in Central Bougainville. This is a big step as well as for the company to establish its office in Arawa and continue to negotiate with the people and the stakeholders to prepare for the eventual opening,” Mr Lapun who is principal of Arawa Secondary School said.
Mr Lapun said that the reconciliation costs will be huge but it would be wise to conduct the reconciliation ceremonies in all the three districts including South and North Bougainville and not just Central Bougainville to seal and heal the blood of 15,000 Bougainvilleans who sacrificed their lives on both sides of the conflict. “Furthermore, the new landowners are recently recognized by the Autonomous Bougainville Government including the lower tailing, middle tailing and upper tailings and South West economic corridor groups should be fully involved and engaged in any negotiations as they are legitimate who were marginalized and dumped with pollutions and effluents along the Jaba River to the Empress Agusta Bay Sedimentary Basin extending from Torokina to Mamagota in the south-west part of Bougainville.”
Mr Lapun said the Panguna landowners should understand that re-opening the mine will need the wide consultation with the Autonomous Bougainville Government and stakeholders of Bougainville to implement the Mining Policy.
which is Bougainvilleans for the best interests of all.
“Similarly, all Bougainvilleans wish to see a reformist company that should herald the aspirations and needs o the people in a modern economic environment on the win-win basis to move the autonomous region forward. If it fails that, pockets of rivalry sentiments will continue to emerge which will impede and challenge development and progress.”
Mr Lapun added that the new era must be open and transparent and Bougainville Copper Limited initiatives must be spiritually, socially, environmentally and economically driven, that is humanitarian in every approach.
“The Bougainvilleans with their government will be empowered to participate in the developments the company will envisage for the prosperity of both peoples and the returning resource developer,” chief Paul said.
Die Außenlagerstelle - Bougainville - wird in dieser geostrategischen Lage unsicherer und die schnellstmögliche Förderung ist angezeigt.
Für Anleger heißt das: Gewehr bei Fuß stehen, um nicht durch die in vielen Jahren aufgebaute Lethargie die Erhöhung des Engegement zu verpassen.
Zu BOCandorra: Den Ausschluß bitte ich zurückzunehmen, da JEDE hier veröffentlichte Information, die uns in dieser Situation einen Informationsvorsprung gibt - und auch BOCandorra hat gute Beiträge geliefert - viel Geld wert ist. Sollten einzelne Beiträge zu aggressiv sein, so empfehle ich, diese Beiträge löschen zu lassen.
Allen einen schönen Sonntag
http://www.youtube.com/watch?v=qkuzLcOKIkY
Insofern bitte ich und das soll auch gleichzeitig meine Abstimmung sein, Axel wieder zuzulassen.
Wir haben doch nichts von dem "Privatkrieg" zwischen nekro und Axel. Ein solcher möge doch bitte im Interesse aller auch privat ausgetragen werden.
Ich stehe hier auch nicht alleine!
05.05.2014
Source: Post-Courier
Mine negotiations director corrects mine visit reports
By WINTERFORD TOREAS
THE director of the office of Panguna Negotiations in Bougainville, Raymond Masono has refuted allegations made by the chairman of the Special Mining Leases regarding a visit by an assessment team from the Bougainville Copper Ltd to Bougainville last week.
According to a report which was published in the Post-Courier last Friday, the chairman of the Panguna Landowners Association Lawrence Daveona stated that the Autonomous Bougainville Government had collaborated with BCL to send the assessment team to Arawa. But Mr Masono when clarifying the misleading statement by Mr Daveona, said the BCL assessment team was approved by the Joint Panguna Negotiations Coordination Committee (JPNCC) at its meeting in Buka on March 25.
“The JPNCC comprises the four main stakeholders to the negotiations; ABG, Panguna Mine Affected Landowners, BCL and the national Government,” Mr Masono said.
“The chairman of the Special Mining Lease Mr Lawrence Daveona and the rest of the landowners’ association executives were present at the meeting when the decision was made. I’m sure the meeting minutes will confirm that.
By ROMULUS MASIU
http://dev.postcourier.com.pg/Stories/...-arawa-furious/#.U2dx4RB9keB
LOCAL contractors based in Arawa, Bougainville are furious that a company which has won contract from an Australian-funded project has not engaged them to do sub contract work.
Spokesperson Demas Kitare and Clarence Pokona, on behalf of the others, said Pacific Development, a company based in Kimbe which was awarded a contract to build schools and law and justice sector program buildings by Australian aid in Central and South Bougainville.
Mr Pokona said instead of engaging their machinery the company, has brought in their own machinery, which has frustrated the local contractors.
The local contractors are appea-ling to chief administrator Chris Siriosi to be wary of such companies who are coming into Bougainville and not engaging locals to work under them as sub-contractors.
"We thought we have removed this kind of system, whereby big companies coming into the region are not working in partnership with locals but on their own," Mr Pokona said. "Now we see that this practice is starting to creep into Bougainville again with locals being left out of contracts."
The local contractors who have machineries to involve in the cartage of cargoes from the wharf to specific locations throughout Bougainville have been left high and dry this time with no work for them.
The local contractors believe that the way forward for Bougainville is for the big companies outside to sub-contract locals to at least give them something to do and also participate in the economic recovery of Bougainville.
"We have machines to cartage cargoes from the wharf to the projects areas," said Mr Kitare.
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Quelle: 03.05.2014
Post-Courier
und das ist die Forderung :
Google Übersetzung letzter Absatz von Qriginal
...."Schließlich, aber nicht zuletzt, die ABG und BCL, müssen bedenken, dass der Krieg noch nicht vorbei. Die 10 Milliarden US-Dollar Entschädigung Nachfrage steht noch. Darüber hinaus haben wir beschlossen, dass das BCL als andere interessierte Investoren behandelt werden. Keine spezielle Behandlung, die ihnen gegeben werden. Keine Sonderbehandlung wird BCL gegeben werden. BCL werden alle unsere Anforderungen erfüllen, bevor sie (BCL) Fuß auf Bougainville: "Herr Daveona sagte der Post-Courier in Arawa.......
Group not happy with reconciliation plan
By ROMULUS MASIU
THE Panguna Landowners Association executives have strongly denounced the manner in which the Autonomous Bougainville Government and Bougainville Copper Limited (BCL) collaborated and brought the BCL reconnaince team to Arawa before the proposed compensation.
Among the team are two representatives from Rio Tinto.
Special lease mining chairman Lawrence Daveona said this and strongly condemned the actions of the ABG and BCL.
“These people do not have any culture and they think they can turn a blind eye to what happened on Bougainville. They think they can come to Bougainville, especially Arawa without first paying ‘bel kol’ to the people. Many Bougainvilleans died as a result of BCL ignoring the landowners demand for fair and equitable compensation for the environment destruction. We want fair and equitable benefit sharing from our natural resources,” Mr Daveona stated.
Mr Daveona who met with the four men reconnaince comprising of BCL and Rio Tinto in Arawa yesterday said it is now clear to the landowners, especially SML that ABG and BCL will use whatever it’s available at hand to suppress the landowners and the people of Bougainville.
“One of the methods is that they think they can use bullying tactics to drive the re-opening of the Panguna. We lost a lot of lives and we need to carefully address all the underlying issues and come to amicable solution with regard to the reopening of the Panguna Mine. Landowners will have a final say on whether the mine will be reopened. Therefore, no stone must be left unturned and address all issues, including benefits sharing, business spin offs, employment opportunities for Bougainvilleans and other issues that may affect the future operations of the company. We do not want to repeat the history that happened concerning the Panguna Mine.” Mr Daveona added that all important stakeholders must bear in mind that Panguna mine is very sensitive issue.
“Our people at Panguna have been blaming the landowner executives that we are pushing for the reopening of the Panguna Mine. It is the ABG which is trying to bulldoze the re-opening of the mine. Not landowner executives’ issues are the welfare of our people. The relocation, housing, compensation, fair benefit sharing for all Bougainvilleans, employment opportunities, business spin offs and others.”
“Lastly but not the least, the ABG and BCL, must bear in mind that the war is not over yet. The US$10 billion compensation demand still stands. Furthermore, we have resolved that the BCL will be treated as other interested investors. No special treatment will be given to them. No special treatment will be given to BCL. BCL will meet all our demands before they (BCL) set foot on Bougainville,” Mr Daveona told the Post-Courier in Arawa.
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...wird keinen Menschen beunruhigen.
Wie diese genannte Vorderung letzendlich dargestellt werden soll, muß zwischen den Parteien verhandelt werden. Dumm wird es doch nur wenn hier eine unüberwindbare Hürde aufgebaut wird die dann keiner mehr in der Lage ist zu nehmen. Sei es aus Uneinsichtigkeit in die machbaren Realitäten oder aus purer Unfähigkeit.
Beispiel für solche Entwicklungen haben wir ja in der Vergangenheit auch zur Kenntniss nehmen müssen. Leider. ;-)))
@ Tom / @sellongodnew - die Argumente haben was und sie taugen schon um sich daran wieder aufzurichten wenn es nur nicht (frei nach Nekro) the´´ Land of the unexpected´´ wäre. ;-)))))
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...für BCL scheint jetzt tatsächlich der Zeitpunkt gekommen zu sein, wie schon angekündigt, offensiver mit dem Thema umzugehen. ;-))))
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...It is intended to continue with the current investment strategy, for as long as the
Investment Committee deems this to be the best option, or until such time as
equities need to be sold to fund further studies and potential mine development.
.....Es ist beabsichtigt, mit der Anlagestrategie weiter , solange die
Investitionsausschuss hält dies die beste Option sein , oder so lange, bis
Aktien müssen verkauft werden, um weitere Untersuchungen und mögliche Erschließung der Mine zu finanzieren.
....das macht doch eigentlich am meisten Sinn wenn die Aktie in Richtung des ` fairen Wertes`tendiert. ;-)))
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...eine andere : z.Bsp. Erhöhung des ´Aktienvolumens´, also rein theoretisch. Ich denke dabei auch an die vor einiger Zeit gelaufenen Anfragen bei den Depotbanken ;-)))
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...eigentlich mehr die Frage: warum hält das Management zur Zeit keine
eigenen Aktien ? ;-)))
@LOFP, das könnte man daraus schließen, das die Information an der entsprechenden Stelle des Report´s steht. Aber wird explizit darauf hingewiesen. ? Die Formulierung Verkäufe aus eigenen Investments wäre doch da präziser. ;-)))
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