Trading Bougainville Copper (ADRs) 867948

"....Bougainville desperately needed one big impact project to boost its capacity for fiscal self reliance..."


Sehr schön formuliert!!!  

-  

 

Vielleicht ein guter Zeitpunkt  einzusteigen, wenn alles so tot scheint. hmm, kann mir jemand ein paar tausend pumpen? =)

http://www.thenational.com.pg/?q=node/3124

Paul Nerau, Consul General in Brisbane, speaks on what PNG needs to do, to get its act together for the MAssive LNG Project. THere are parallels with getting things happening again on Bougainville.

When Paul Nerau talks, it's time to listen. He is no run-of- the-mill bureaucrat, writes YEHIURA HRIEHWAZI

THIS is someone who literally controlled 18 businesses worth about K100 million as CEO of the Bougainville Development Corporation until the civil war on the copper-rich province tore up the business and he picked up his briefcase and walked out.

"I was a millionaire, I know what I am talking about," says Paul Nerau, Papua New Guinea's Consul General in Brisbane, Australia. "Let's not repeat our past mistakes. Kutubu is almost gone, there is nothing to show for it."

He was a teenage high-school student at Rigu when he worked as a casual on pilot mill plants at CRA's Bougainville Copper mine in Panguna during school holidays in 1968. In subsequent years, he worked as a cashier in a grocery supermarket in Panguna during school term breaks until he graduated with a Bachelor of Law at the University of PNG.

Mr Nerau grew up with the mine, understands the language and worked hard to capture some of the riches and keep them onshore through buybacks, acquisitions and joint ventures. He drove that and drove it hard with an iron-hand. Had it not been for the crisis, BDC would now be one of PNG's iconic billion-dollar operations – a fine example of locally-owned spin-off businesses conceptualised from exploitation of PNG's rich natural resources. Sadly, there's no such credit to the current projects. If there are, they're known only to a privileged few.

Landowners, leaders and fly-by-night carpet beggars are squandering off the wealth from oil, gold and copper projects. Millions of Kina is being spent recklessly and is manifested in the disgust observed by a senior member of the national and supreme courts bench last week that Southern Highlanders were shamelessly rushing to court for nothing other than disputes over oil money. The situation reared its ugly face within the precinct of the courts in a fist-fight captured on the front-page of this newspaper.

When Ok Tedi mine ceases operation in 2015, Tabubil will become a ghost town. There's no Moro township now, so Lake Kutubu will reclaim its natural habitat when the pipeline runs dry, illegal miners will take over waste dumpsites in Porgera scavenging for the precious yellow metal at their own peril and Lihir will return to tranquillity caressed by the vast Pacific Ocean breezes. The older people will return to their bushes and sea to continue living as they've always done, but the young generation of people born into the cash-flushed extravagant and wasteful lifestyles will be psychologically, physically and mentally displaced - therein lies simmering problems.
With the emergence of the liquefied natural gas project, Mr Nerau is flashing red lights and putting up warning signs. The enormity of the project is almost incomprehensible to the mind of the ordinary Papua New Guinean. Constructed at the cost of K42 billion, it will generate K150 billion in tax revenue alone to the government coffers, which if Minister Arthur Somare has his way, will be managed by his IPBC office under a sovereign welfare fund and not by the Department of Finance under normal revenue and budgetary processes. That's taken care of the government share of the project benefits. What about landowner royalty payments, construction money and benefits from supplying and contracting during construction phase and on-going operations? This is where Nerau says, leaders must be extremely careful and ensure that a large portion of the funds remain onshore.
"How much of the K42 billion will stay in PNG," he asks. "Don't talk about 20 million or 50 million, that is not money ... you talk about a billion dollars, that is money," he says with a firm tone and glitter in his eyes. This is an enormous project and a lot of the construction money must stay in PNG.

How can that be captured? Through the national content provision in the project agreement, he says, the government should negotiate that for each contract, there should be a certain percentage for PNG businesses.

"We can't stuff it up now, the Department of Commerce and Industry should quickly set up a National Content Monitoring office to ensure that this is done," he said.

"Public service must click into action now and look outside of the normal bureaucratic circles and initiate moves to get our businesses involved ... the national content monitoring office must not be run by bureaucrats, it should be driven by a very senior person from the private sector," he insists.

Australian businesses are keen to come in, "but are we ready", he asks.

Australian companies will be backed by Australian government's Export Finance Investment Corporation (EFIC) and as a pre-condition, Australian equipment and services must be sources for the project.

The LNG project has generated an unprecedented high number of interests wanting to do business with PNG amongst Queensland and northern Australian companies. He ran trade seminars in Cairns, Townsville and Brisbane and is planning one for Darwin. "I haven't been to Darwin yet ... I don't really know what its like there." In Cairns, 120 business houses were represented, in Townsville there were 95 and in Brisbane another 120, he said.

Entering the public service from the private sector, Mr Nerau had to grapple with a public service culture before he guided his eight staff to re-focus and make the office more welcoming to visitors.
"Every person that walks in that door brings in money that pays our wages, that's how we must work and treat visitors to our office," he told staff during re-orientation briefings.

"The office was one of the most hated offices in the past, people use to say bad things about us, it used to take three to four weeks for visa approvals. I asked the staff why it took so long and they said, that's how it was done. I changed that. Business and tourism visas are issued here within 24 to 48 hours. The staff working hours are altered to ensure that there is one staff in the office attending to visa enquiries during
lunch hours," he said.

He said when he first arrived in Brisbane three years ago, there was only about $A40,000 generated monthly, soon after it went up to $A60,000 monthly and last month alone netted $A140,000 and increasing – spurred on by the gas project.

He also initiated a "first" in terms of methods of payments for visa fees from multi-national corporations like Oil search Limited and Lihir Mining Ltd who set up "impress accounts" to pay visa fees for their staff on projects sites. The companies pay lump sums periodically into the accounts which are held by the consulate. "We make payments for the impress accounts and then produce reconciliation reports for the companies," he said.

He is talking to Australian companies and encouraging them to move to Port Moresby and set up offices, employ the locals and training them if they have to and pay taxes to the government.

"I tell them to also go into joint venture operations with PNG companies and work with them in win-win arrangements," he said. Reception so far has been overwhelming.

He is telling trucking companies to go and set up driving schools in Port Moresby to meet ExxonMobil's need for 1000 highly qualified drivers and heavy equipment operators.

He has spearheaded moves for 2000 young people to be trained annually for five years at TAFE colleges in Queensland to provide the technically-skilled manpower base for the construction work. National Planning Department has taken ownership of the initiative and only as recently as two weeks ago, the director of the officer of Higher Education Mr William Tagis was on the phone with him on the project.

With the heightened level of interests for in-bound businesses, is the Waigani bureaucracy able to facilitate approvals for new ventures coming in? That, Mr Nerau says, is another story!  

http://www.spiegel.de/wissenschaft/mensch/0,1518,662482,00.html

Eingeborene in Papua-Neuguinea (1971): Genvariante schützt vor Kuru-Krankheit  

http://www.theaustralian.com.au/news/opinion/...6frg6zo-1225801815905

PAPUA New Guinea is entering a period of opportunity unmatched since its springtime of optimism in the independence period 30 to 35 years ago.
Last week's budget provided the numbers underpinning that renewed hope, especially the anticipated 8.5 per cent growth in gross domestic product next year. This year, in the middle of a global recession, it hasn't done so badly either, growing at almost the Chinese rate, an estimated 6.2 per cent.

Other countries in the Pacific are performing reasonably well, especially Samoa, despite the recent tsunami, and Vanuatu.

It is PNG, though, that has the giant opportunities, dominated by the $15.6 billion ExxonMobil-led liquefied natural gas project. It will be responsible, if it goes ahead as planned, for 35 per cent of the country's growth next year -- and possibly even a higher amount later.

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But PNG's capacity constraints are also massive, ensuring that this and the plethora of smaller mining projects getting under way will throw up new social and economic challenges even as they answer budgetary needs.

The core of the problem for PNG was highlighted recently by former prime minister Julius Chan, who was finance minister at independence in 1975, and who returned to parliament two years ago.

In independence year, he pointed out, PNG was ranked 77th of 150 countries on the UN's annual human development index, which measures core living standards data, especially on health and education. In the latest index, PNG came 148th of 182 countries listed, just above Haiti and Sudan.

This points to the poor state of governance in PNG, and to the ineffectiveness of the vast volumes of aid that have poured in to the country, most of it from Australia.

Corruption has diverted and misallocated revenues, and government services remain poor and sporadically delivered. Much of the money that might be used for this core task of government is instead paid out by cheque to individual MPs, who provide little or no accounting.

The government of Michael Somare -- now 73, and after 41 years at the centre of national life still without any clear succession plan -- has done a good job in macro-economic management, with the help of bountiful revenues from the commodities boom.

But as prices and demand have flattened, they have dipped deep into the trust funds established to handle windfall revenues from resource taxes, to quarantine this income for a truly rainy day. Instead, in the first nine months of this year, the government drew down what Deloitte's describes as a "staggering" 1.75 billion kina ($750 million) of these funds.

Even the Treasury Secretary, Simon Tosali, described the drawdown, during the budget lock-up, as "excessive government spending". He said: "The stimulus will exert demand pressures on the economy, which risks increasing inflation, interest rates and imports, and crowding out of private investments."

Inflation is expected to leap to 9.5 per cent next year, triggering strong warnings from central bank governor Wilson Kamit, who urges the government to let the bank supervise the administration of the trust funds instead.

The gas project is already helping drive up inflation, with its demand on limited capacity. It will do the same for the kina, slashing export receipts -- with an especially big impact on the millions who depend on tree crop sales, including coffee, cocoa and copra.

And tourism, an industry with a huge potential, which could do wonders for the country's rampant unemployment once crime is credibly reduced, is too fragile to resist being swamped by the massive price rises under way for hotel rooms, air travel and other services required for the gas project.

The other big challenge comes from the influx of about 6000 workers, most of them from Asia. Beginning with the Bougainville mine -- which did a remarkable job of training PNG tradesmen -- the country has benefited widely from the skills learned in the resources sector. But the scale of the gas project, and the simultaneous development of several mines, will exhaust the pool of trained workers. As governments have failed to provide adequate schools and colleges, disappointed parents have kept their children home -- or working on family crops.

ExxonMobil will do its best to train Papua New Guineans, but despite this, there will be thousands of new Asians living in and around Port Moresby. This comes as a parliamentary inquiry is under way to examine rioting and looting in May that shut down many of PNG's major towns and involved tens of thousands of people.

The riots were triggered by a fight between PNG and Chinese workers at the Chinese-owned Ramu Nickel project south of Madang.

Underlying these riots, and continuing tensions, is a sense that PNG's development has left much of its own population behind.

This will present an especially palpable challenge as thousands of comparatively highly paid foreigners arrive in Port Moresby.  

Geld ist in diesem Zusammenhang das geringste Problem.  

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Kompletter Bericht der Panguna Versöhnungsfeier von Lawrence incl. Photos.  

ein schönes Beispiel wie es laufen kann wenn man nur will ;-):RNS Number : 9630C
EMED Mining Public Limited
24 November 2009




AIM: EMED                                                                                                                              24 November 2009



         RIO TINTO MINE START-UP - PERMIT PROCESSES MOVE FORWARD

EMED Mining Public Limited ("EMED Mining" or "the Company") is pleased to announce progress on its plans to restart the Rio Tinto Mine ("Proyecto Rio Tinto" or "PRT") in Spain.

Since the last update on 30 September 2009, the Junta de Andalucia (the Government) has communicated its support within the legislative framework for PRT at public forums and the Company has been asked to prepare and submit all remaining plans for regulatory approval.


The Company (via its wholly-owned subsidiary EMED Tartessus SL) and the authorities have refined the approach to the permitting process as follows:


   *

     Continued processing of the recently submitted Environmental Impact Assessment ("EIA") with the public consultation period and other requirements to be addressed in due course;
   *

     Concurrent consideration of the administrative transmission of the Company's mineral rights and the operating permit, in compliance with changed environmental regulations introduced in the past few months; and
   *

     Preparation and lodgment for approval of the next stage of detailed plans for starting, operating and rehabilitating the mine, plant and waste disposal infrastructure by the Company and external experts.

These procedural matters have been the focus of the permitting process for some  months and accommodate recently-introduced regulatory changes for processing EIA's under European Union guidelines along with the specifics of this particular project. It is pleasing that this approach also serves to preserve the objective of commissioning startup by the end of 2010 and for production to settle down in 2011
http://www.investegate.co.uk/Article.aspx?id=200911240700089630C  

http://bougainville.typepad.com/newdawn/

By Anthony Kaybing

Other atolls of the Autonomous Region of Bougainville are being neglected in relation to rising sea levels, according to the coordinator of Tulele Pesa, Ursula Rakova, because too much emphasis is being given to the Carterets Islands.

“Mortlock, Tassman and Fead Islands are also facing the same problems as the Carterets,” said Mrs Rakova.

She said financial assistance was a major hindrance in helping the atolls’ people.

“Even if the Autonomous Bougainville Government doesn’t provide support, I am asking the international community to help those affected,” she said.

She said her organization is doing all it can to help the people of the atolls, especially the Carterets, with relocation to mainland Bougainville.

As there is no specific funding for relocation, it has been a very slow process.

Mrs Rakova said that the British High Commission had donated K15,000, but that was used to conduct a research on Carterets Island.  

http://www.thenational.com.pg/?q=node/3261

Im Moment ist B'ville bei den  Investitionen in PNG noch an letzter Stelle.Doch das könnte sich bald ändern. Bei dem für nächstes Wochenende geplanten JSB Meeting könnte nach Tippelschritten ein Meilenstein gesetzt werden ;-)))))

Source:
TAPO TOVILU Divine Word Journalism student
MOROBE province is the most preferred area in the country to do business, the Investment Promotion Authority (IPA) has revealed.
On the other hand, the Autonomous region of Bougainville is the least preferred, Clarence Hoot, IPA’s director for Business Investment and Export Promotion, said.
Mr Hoot said IPA records showed that both foreign and local companies and business houses preferred Lae the most for their business.
He was speaking to participants during the Bougainville economic summit in Bougainville early this month.
Mr Hoot said East New Britain ranked second, followed by Western Highlands and Madang provinces, while Autonomous Region of Bougainville ranked last.
He, however, cautioned that this standing could have changed with the development of oil and gas projects in Southern Highlands province.
He said if the 2008 reports took into account the oil and gas discoveries and development in the Southern Highlands, they could have pushed the province to the top or second to Morobe.
Between 2005 and 2007, only two companies registered with IPA to do business in Bougainville.
The Autonomous Bougainville Government (ABG) and its administration has developed a policy that needed all foreign investors to go through a committee for screening.
The IPA would not approve and allow any foreign investors unless it has been advised by Bougainville of that matter.
Meanwhile, Bougainville’s deputy chief administrator Raymond Masono said the island was rich with natural resources that were yet to be developed.
He said ABG needed money to develop the resources, suggesting the reopening of the Panguna mine.
He said money earned from the re-opening of the mine would be used to kick-start all the other economic activities.
Bougainville stands to earn K10 million annually from the tourism industry if developed.
At the same time, IPA officers in Buka have already completed identifying potential tourist sites in the Hagogohe constituency.
They would move on to other areas, firstly in the northern region and later to South and Central.  

Hallo,

so, nun ist auch die Spesenabrechnung eingetroffen:  für 13.000 Stück wurden 675 USD und 25,57 € verrechnet, zusammen etwa 473 €, also ca. 3,64 Euro-Cent pro Stück. Dafür sind die Originalaktien nicht mehr gesperrt und ich könnte sie verkaufen, was ich natürlich nicht mache...

Gruß
Donn  

.............verlangen neben den 5 US/ct/St für 17500 St auch noch 175€ Gebühren,können aber auf Anfrage nicht angeben woraus sich diese zusammensetzen ;-(((((  

gibt es eigentlich irgendwelche Nachrichten von der Reise President Tanis nach Australien letzte/vorletzte Woche?Mit wem Gespräche geführt wurden?
Wenn man in die Niederungen der Kaffeesatzleserei hinabsteigt kann man das Fehlen von Nachrichten (Nachrichtensperre?)nur positiv sehen,denn es könnte ja bedeuten das die behandelten Themen einen hohen Stellenwert besitzen und zum jetzigen Zeitpunkt nicht für die Öffentlichkeit bestimmt sind .Wenn man dann noch unterstellt das ein Thema das reopening der Pangunamine war, ist es um so spannender.Weis jemand was?  

...........nimmt

http://www.bougainville-copper.eu/  

als nicht kommerzielle Seite in ihren Google News Alert auf so dass jeder Abonnent der "News zu Bougainville" weltweit per Alert über Updates der HP informiert wird.

Hallo Herr Sturm,

vielen Dank für Ihre Rückmeldung und
weiteren Erläuterungen zu Ihrer
Website.

Mit dieser Nachricht bestätigen wir,
dass wir Ihre Website erneut geprüft
und in Google News nun aufgenommen
haben. Die Einbeziehung Ihrer Artikel
wird innerhalb der nächsten Wochen
erfolgen.  

....in Panguna oder Atamo eingesetzt,könnte für so manche Ueberraschung sorgen ;-)

http://www.ivanhoemines.com/i/pdf/Zeus_at_Oyu_Tolgoi.pdf  

scheint keine Neuigkeiten gebracht zu haben - oder hat jemand andere Infos? War es überhaupt an diesem Wochenende?  

http://bougainville.typepad.com/newdawn/

By Anthony Kaybing
The 2010 national budget allocation for the Autonomous Region of Bougainville is still being questioned by the region’s leaders.

Tsitalato Council of Elders Chairman, Joseph Gatana, supported a call by Acting President Mathias Salas who said the allocation is insufficient.

Early this week, Mr Salas, who is also ABG Finance Minister, said he was disappointed that the PNG government has reduced the 2010 ABG budget allocation.

Mr Salas said the government failed to keep its promise to increase the region’s recurrent grant and failed to allocate K15 million provided for under the Bougainville Peace Agreement.

The reduction will result in no major projects being undertaken such as the sealing of the Buka Ring Road.

The region’s trunk road will also suffer because of the national government’s decision to cut the budget.

Supporting the Acting President, Mr Gatana urged the PNG government to adjust the budget to accommodate the region’s needs and requirements.

Mr Gatana said the present allocation will hamper progress towards a referendum and eventual independence.

He challenged the national government to live up to its agreed commitment with the ABG Government and the people of Bougainville.

Meanwhile, Mr. Gatana called on the ABG Government to tell the people of how it had used K4 million given by the national government for reconciliation.

Mr Gatana said there are many pending reconciliations and the government must tell people how much money there is and how much will be allocated for each.

He said the people of Bougainville have a right to know and to be informed about the used of this public money.  

............jumped after it said it had been granted a licence to mine over 70km2 on the Fauro Island in the north of the Solomon Islands and on the island of Bougainville, which hosts the Panguna copper gold project.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=3150634  

.........scheint down zu sein.

http://www.postcourier.com.pg/  
http://www.thenational.com.pg/

sind nicht erreichbar.

Erstaunlich dass unsere BOC nicht auf die steigenden Rohstoffpreise (Kupfer 7000 USD/T,Gold 1192 USD/oz)reagiert.

Die Panguna Reserven von 8,25 Kg Kupfer u. 0,925g Gold pro Share ergeben einen aktuellen Marktpreis von 57,75 USD/Kupfer u. 35,34 USD/Gold.(Insgesamt 93,09 USD oder 61,78 € (ohne Silber,Moly u. den 7 weiteren Lizenzen)

Vergleicht man jetzt die politische Situation mit der von vor 3 Jahren( zwischenzeitig abgeschlossene Reconciliations der Panguna Landowner,breite Zustimmung für den Tanis-Kurs,UNDP Team vor Ort welches das Einsammeln der Waffen begleitet,BCL,bzw RT haben sich klar zur Wiedereröffnung bekannt etc) so sind die Fortschritte klar erkennbar.

Doch gleichzeitig stagniert der Kurs in AU oder wird mit Minivol jeweils im ct-bereich gedrueckt.

http://au.finance.yahoo.com/q/hp?s=BOC.AX

Interesse daran können m. M. nach nur die ADR Emittenten haben, welche sich die nicht zum Tausch eingereichten ADRs nach Ablauf der Frist ab dem 10 Jan. "für n' Appel und n' Ei" schnappen wollen.

Bleibt zu hoffen dass ihnen die Ergebnisse der JSB Meetings einen Strich durch die Rechnung machen ;-)))))))))  

http://www.bougainvillecopper.com.pg/wantok1.pdf

Wantok Niuspepa, PNG, November 2009
Transitional arrangements are likely to be in place to facilitate the possible return to
mineral exploration and mining on Bougainville, before the drawdown of mining
powers takes place under the Peace Agreement.
The World Bank has committed almost K6 million to achieve what it describes as
strengthening the foundations for a conflict-free mining sector in the Autonomous
region.
The ABG has recently established its own Department of Mining, which has a small
number of staff and limited equipment and facilities.
The World Bank has committed the funds at the request of the ABG to build the
capacity to manage the re-establishment of exploration and mining activities on
Bougainville.
building staff capacity
The principal target of the funding is ABG’s future DoM staff, who will be supported
to establish the organizational framework for the department and implement an
effective policy and regulatory environment for mineral exploration and development
in Bougainville, a World Bank document says.
Transitional arrangements will facilitate granting of exploration and mining licenses
for Bougainville until mining powers are transferred to ABG, a Bougainville
Sustainable Mining Policy, operation of a functioning ABG Department of Mining, a
Bougainville Mining Act, a Bougainville Mining Safety Act and enabling regulations,
hiring of professional staff for the ABG Mining Department, twinning of ABG
Mining Department staff into MRA and the PNG Mines Department, or other
appropriate organizations, and the development of small-scale mining support
services and outreach on Bougainville, the Bank says.
respect for the risks
Mine related issues, particularly those at Panguna, are seen as central to the conflict
that grew into the Bougainville Crisis, and the World Bank document pays respect to
the risks as well as the potential benefits of promoting a return to both large-scale and
small-scale artisinal mining.
“The possible re-establishment of mining activities in Bougainville will have critics
and has the potential to re-ignite conflict in some areas if not managed appropriately.
“The Project will include development of a communications and information program
to ensure that all stakeholders are informed of the Project objectives and activities,
particularly in Bougainville,” the World Bank document says.
“All extractive industry locations in Papua New Guinea are subject to occasional
conflict, often over benefits sharing.
“The focus on improving local governance and accountability is expected to help
mitigate this risk.
“The Project will support training for local stakeholders in conflict resolution.”
The World Bank, with more than K100 million to spend in several areas of support
for mining throughout Papua New Guinea says it is including Bougainville in
response to an invitation from the ABG to strengthen mining management capacity  

 

http://bougainville.typepad.com/newdawn/

By Thomas Kathoa
The President of the Autonomous Bougainville Government, Hon James Tanis, will leave for London at the end of this week.

Mr Tanis leaves Bougainville on Friday for Port Moresby in preparation for his departure to England.

He has been invited by the British government, which has sponsored the cost of his trip.

The president has just returned from Australia at the invitation of Australian Foreign Affairs Minister, Stephen Smith.

The England tour is the president’s third overseas trip since being elected to office last year.

He has also visited China and Australia.

Photo: James Tanis welcomed at the Buka Airport last Saturday upon his return from Australia - Aloysius Laukai