Trading Bougainville Copper (ADRs) 867948

http://www.abg.gov.pg/index.php/news/read/...nds-oneill-on-leadership

Ohne Budget gibt es auch auf Bougainville auch in Zukunft keine Freiheiten, genau wie im richtigen Leben. Vielleicht führt dieser Zwang einmal zur Vernuft und zu einer Lösung für die fast tote Panguna Mine.

 

http://www.atimes.com/article/...les-tinderbox-threatens-to-reignite/

 

https://asia.nikkei.com/Spotlight/Asia-Insight/...ower-game-with-West

 

Ok, ist etwas "off topic" aber Swen Lorzenz ist wieder aus der Versenkung aufgetaucht. Der ein oder andere wird sich ja ggf. noch erinnern ;-)

https://www.undervalued-shares.com/

 

wie er heute die aktuelle Situation einschätzt.
Panguna bleibt geschlossen, dafür machen aber andere Minen mit anderen Minenbetreiber auf der Insel Bougainville auf. So hatte ich mir 2019 nicht vorgestellt.  

The Special Mining Lease Osikaiyang Landowners Association (SMLOLA) in Panguna, Bougainville, in accordance with its constitution, held its annual general meeting (AGM) on December 21, 2018.
The AGM covered the year’s significant activities and the success of the awareness and unification programs, something that has taken nearly 30 years to achieve.
As the board’s three-year term was also up for renewal, an election was held, with the addition of more members to ensure there is a broad representation of the constituents.
The previous leadership team, including Philip Miriori as the chairman, was re-elected, with six other office bearers, demonstrating the support for progress and unity the team has achieved over the last three years.
The election was supported with 1757 proxies lodged and over 530 members attending in person, unanimously supporting the new board.
The proceedings were managed and overseen by SMLOLA’s lawyers, Ovia Lawyers, and representatives from the Autonomous Bougainville Government. Mr Miriori from Guava village was re-elected chairman of the SMLOLA Board for the next 3 years.
Mr Miriori was supported by the former chairman Lawrence Daveona, who remains as his chief adviser. Previously strong opponents, the two men reconciled in 2017 and have been working diligently together ever since they signed their Deed of Settlement in December of 2017. Richard Avero from Kupe village, Bovonari Ward, was elected as SMLOLA vice chairman, Angela Kavarui from Dapera village Modapi Ward is treasurer, public officer is Kevin Masen from Siredonsi village, Pinenari Ward.
...

https://postcourier.com.pg/panguna-los-fair-represention-new-board/  

Bougainville landowners still backing RTG for Panguna

14 JANUARY 2019
Papua New Guinea Mine Watch

Radio New Zealand | 10 January 2019

A Papua New Guinea landowners group in Panguna in Bougainville says it’s still committed to working with Australian mining developer RTG on a possible re-opening of the local copper and gold mine.

The management of the Special Mining Lease Osikaiyang Landowners Association held its annual general meeting late last month.

It chose Philip Miriori to continue as chairman for the next three years.

Mr Miriori said people from seven villages and ward areas were represented on the board, including a number of women and young people

Before a moratorium placed on a possible re-opening of Panguna last year by the autonomous Bougainville government, the Osikaiyang landowners had been working actively with RTG to get the exploration licence for the re-development.

The ABG previously expressed its opposition to working with RTG, because it was working with a rival, the former mining company, Bougainville Copper Ltd.

But Mr Miriori said his group was now looking forward to continuing to ‘work closely with the ABG in all matters affecting Panguna and supporting the ABG in the upcoming referendum.’  

Welche Gründe sprechen eigentlich heute noch für BCL als Minenbetreiber von Panguna?  

nachzulesen auf HC:

12/01/19
16:40
Post #: 37097860


Yes, the position of SMLOLA matters
So does the position of the 8 other landowner groups
A common confusion that foreigners have is to think that landowner groups, ILGs and landowners and clan leaders are the same people


RTG is not even the the first company that Mirioiri has signed up with

https://bougainvillenews.com/tag/tall-jpng-ltd/


This is the land of unexpected
The Western concepts may not always apply
That is why there are 9 landowner associations whose elections were organised by the Bougainville Electoral Commission at that time


The news releases you read make you feel better
But in the ground, you may find that the truth is different

auf HC
12/01/19
16:50
Post #: 37097877

   You may ask why BCL is silent through all of these press releases

   For now, nothing is moving because of legal action
   They spend less and save their money, but does not seem to have lost any ground to RTG

   In the villages, their supporters do not seem to be worried

http://www.bcl.com.pg/observations-following-smlola-agm/  

January 23, 2019

The Autonomous Bougainville Government has been called upon to review and lift the moratorium currently in place on exploration and mining at the defunct Panguna Mine.
Boniface Arunara, Team Leader of the Bolave Constituency awareness group which is conducting awareness on the proposed establishment of a joint venture between the Special Mining Lease Osikaiyang Landowners Association (SMLOLA) and a new company to be known as the Panguna Minerals Limited (PML), made this call recently.
Mr Arunara explained that with the establishment PML, the landowners and the ABG would now have the opportunity to gain greater benefits from the Panguna Mine especially in terms of enabling Bougainville to achieve fiscal self-reliance in preparation for independence.
“Under the proposed SMLOLA/ PML arrangement, the landowners and the ABG will have a 50 per cent stake in the new mining operation while the nominated partner/developer, RTG will own 50 per cent,” he said.
“We, as landowners of the mine, acknowledge that it was Panguna that started the conflict that claimed many lives and we have resolved to work together with the ABG and the people of Bougainville to ensure that the mine if re-opened will compensate for the lives lost and properties destroyed and generate much needed revenue for the ABG.”
Speaking through a representative, Mr Arunara said disputes over the uneven distribution of wealth from the mine when it was operated by Bougainville Copper Limited and Rio Tinto was the main catalyst for the 10-year Bougainville Crisis which cost over 20,000 lives and it was Panguna that would unlock and return Bougainville to prosperity.
“The re-opening of Panguna will return economic prosperity and achieve fiscal self-reliance for
...
https://postcourier.com.pg/call-abg-lift-ban-mine/  

PML heißt anscheinend der Vorgschlag den RTG dem ABG gemacht hat...

Nur so ein Gedanke von mir, BCL hat nach meinem Wissenstand immer noch das "rigth of first refusal"
das macht doch nur Sinn, wenn ein Wettbewerber ebenfalls ein Angebot abgibt und man sich am Ende für ein Gebot entscheiden kann. Ich glaube immer noch, das BCL die bessere Ausgangslage hat!  

 

27 JANUARY 2019 AT 23:25
Papua Nehttps://ramumine.wordpress.com/2019/01/28/...bout-reopening-panguna/w Guinea Mine Watch  /  ramunickel


Chris Baria | January 25, 2019

The call by Boniface Arunara, Team Leader of the Bolave Constituency awareness group on ABG to lift the ban on Panguna Mine, which appeared on Friday’s paper (25/01/19) cannot go unchallenged by those of us who fear that it is not the right time to entertain an industry which is callous, divisive and corruption-prone.

It is foolish to talk about the Panguna mine which is a divisive issue at this very crucial period when Bougainville faces significant challenges in its journey through a referendum to eventual independence. The mine was the initial flashpoint of a costly war that claimed the lives of 20,000 Bougainvillean man, women and children. There is no telling whether the next wave of mining will do any better, especially when we have a lot of opportunists aligning themselves with all sorts of mining companies to divide up the people’s loyalties to one company or another.

Those of us opposed to mining are well aware that ABG has been issuing exploration and probably mining licenses, without due diligence checks on the recipients of these licenses. Some of us are shocked to learn that the Filipino Mining company SRMI, carrying out mineral exploration in southern central Bougainville, has bad mining reputation in the Philippines for tax evasion, human rights abuses, and buying politicians, but ABG went ahead and issued them the mining license.

In the Friday’s article, Mr. Arunara goes on to raise the volatile issue of compensation in an irresponsible attempt to raise people’s expectation, while at the same time talking about RTG another mining company which very little is known about. Has BCL compensated the people of Bougainville for their suffering and deaths? What makes Mr. Arunara so sure that another company that has just crawled out of the woodwork will pay BCL’s debts?

Look at all the number of mining companies looking up at ABG and begging for licenses like a pack of hungry dogs and as this notes go to print, another mining company “Caballos”(not sure of the name) has just come into the mix.

Unless we own our own mining company, it is pointless to talk about development and prosperity when we don’t own the means of production even though we lay claim to the minerals beneath our feet. Millions of dollars will pass through before our eyes as investors pour in money to develop the mine, buy capital equipment and build the mine infrastructure. The mine exists for these investors who stand to make a massive profit behind the scene while we wait for the price of copper and gold to improve on the world market to be paid. The mine is not there to pay us compensation for trying to chase it away or build roads for us and make us rich overnight.

Prosperity will come for politicians and the elites but it is the landowners and those affected by mining that will pay heavy the price for the damage to their way of life their land and environment and subsequent loss of livelihoods. What compensation paid to them will not bring back the way of life they enjoyed prior to mining.

Physical self-reliance also should be sustainable and not just a show for Papua New Guinea and Australia to grant us independence. It should be a long term commitment by the leaders of Bougainville to their people. Physical self-reliance should not be measured on the wealth from the mine, which corrupt governments misuse, but on an economy that puts money into the pockets of the rural communities where the bulk of our people live, while at the same time paying for government operations and the delivery health and education services to the people.

Let’s not forget that Panguna bankrolled Papua New Guinea’s independence but today mired in foreign debt the country is scraping the bottom of the barrel trying pay for service delivery to the people. Why? because they lived on free money from BCL until we closed the mine. BCL made huge profits because they never paid for any environmental protection infrastructure and enjoyed tax concessions. Mining is not a sustainable industry like agriculture and often leaves the host country in a financial, environmental and social mess after it mines out the minerals.

I would suggest that Mr Arunara, instead of try to bringing more problems from overseas, reconsidered his proposal to ABG and look at options such as tapping into safe alluvial mining which is a leaky tap sending out billions of Kina worth of gold out of Bougainville. I have mobilized my community to go into Virgin Coconut Oil production. This is a value added product that can go directly to the local and export market, after minimal processing at the household level to bring more cash in for families to meet the cost of school fees and medicines. There are many business opportunities that are participatory, creative and challenging than spending dull days gazing into the depths of a mine pit and coming up with indecent proposals. A lot of countries in the world like Fiji have vibrant economies without having to depend on mining, which to date is nothing but a well-organized scam to plunder resources from under the unsuspecting landowners who pay a heavy price for lies.  

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280119CORE GROUP OF WELCOMES ABG INVESTORS
https://bougainville.typepad.com/newdawn/

https://www.facebook.com/meekamui/posts/...lJchZpyWAdB&__tn__=K-R

Die LO's werden von ihrem eigenen Chaos eingeholt. Vermutlich will die ABG der SMOLA den Schneid abkaufen.

 

The government of Bougainville in Papua New Guinea believes establishing its own company to re-open the long shut Panguna mine will solve its funding crisis going into the referendum.

Bougainville is due to hold a referendum on independence from PNG in June this year.

However, it claimed that the national government had not yet provided the money it is constitutionally bound to provide.

The Bougainville government had previously placed a moratorium on re-opening Panguna to ensure the vote was not disrupted, but President John Momis said the region is facing an emergency.

He said this is why it is setting up Bougainville Advance Mining in which the government and people of Bougainville will hold a permanent majority ownership.

“Time is running out on us. The people of Bougainville are determined to have the referendum and they must find the money to fund the referendum. One way of doing it would be if we started our own company and generated the revenue to enable us to conduct the referendum. We cannot sit on our hands.”  

..... Landowners of the closed Panguna Copper and Gold Mine today called on the Autonomous Bougainville Government that they are ready to partner with the ABG and open the mine that created disunity amongst the people of Papua New Guinea and Bougainville.....

https://bougainvillenews.com/2019/02/04/...lead-up-to-the-referendum/

 

Dann sollte PNG die Rechnung für das Referendum übernehmen und im Gegenzug wird BOC beauftragt Panguna zu betreiben. Dann hat doch jeder was davon.  

https://www.asx.com.au/asxpdf/20190204/pdf/442c82t6hj1tk0.pdf

https://www.radionz.co.nz/international/...-for-bougainvilleans-momis

Das dürfte die Spannungen nochmals erhöhen.

 

https://ramumine.wordpress.com/tag/jeff-mcglinn/

 

Aus den Aussagen von Momis lese ich heraus, daß er sauer ist, weil PNG kein Geld fürs Referendum zur Verfügung stellt. PNG sollte als Großaktionär von BOC kein Interesse an den AGB-Plänen mit BAM haben.  

Bougainville Copper Limited (BCL) has serious concerns over proposed new mining laws that some members of the Autonomous Bougainville Government (ABG) seem keen to rush through parliament.

The three bills that were introduced to parliament last Wednesday, with insufficient stakeholder consultation, are proving divisive at a time when unity is required in the lead-up to the referendum.

If passed, one of the bills seeks to amend the Bougainville Mining Act 2015 to allow a new company, Bougainville Advance Mining Limited, to be issued with a special mining licence granting “large-scale mining leases over all land in Bougainville available for reconnaissance, exploration and mining that is not subject to an existing exploration licence or mining lease”. Leases of up to 100 years could be granted.”