Trading Bougainville Copper (ADRs) 867948

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Shareholders want Bougainville Copper to heal wounds of the past

Australasian Centre for Corporate Responsibility

accrThe Annual General Meeting of Bougainville Copper (BCL) was held in Port Moresby on 6 May 2014.  The Australian Centre for Corporate Responsibility (ACCR). moved two resolutions at the AGM.

Ms Caroline Le Couteur, Executive Director of ACCR said

   “These resolutions would give Bougainville Copper (BCL) a chance to say that it wants to move on from the issues of the past.

   The board did not express an opinion on the resolutions while the biggest shareholder, Rio Tinto (53%) voted against them.  However a majority of other shareholders who voted, voted in favour of the resolutions.”

   “The fact ordinary shareholders, many of who are Bougainvillian natives, voted for a resolution calling on BCL to appoint an independent person to investigate what happened in the past and make a public report with recommendations about the way forward shows that they appreciate that all the wounds from that time have not healed.”

   “They also voted for BCL to sign on to international agreements which are designed to prevent the sort of disaster that occurred on the Bougainville when the mine was operating.  If BCL did this, it would show their commitment to not repeat the mistakes of the past.”

The PNG government, who owns 19% of BCL, did not vote on any resolutions and has not voted in previous years.

   “This is disturbing. The mine was a major project and the PNG government is a major shareholder.  The PNG government has a responsibility to express its views and support positive developments for it as a shareholder and the citizens of PNG who should be the ultimate beneficiaries of any development.” said Ms Caroline Le Couteur.

BCL operated the Panguna mine at Bougainville between 1972 and 1989. The mine was closed as a result of industrial sabotage by local landowners arguing that the mine polluted the environment and waterways, harmed culture, custom and kinship, killed wildlife, damaged crops, caused illnesses and significant inequalities. The group demanded compensation and the mine closure. The PNG government responded using military force and a blockade, prompting a decade long war leading to 10,000 to 20,000 dying.

In moving these motions, ACCR is working with Jubilee Australia, an NGO with strong links to development organisations and faith groups in Australia including the National Council of Churches of Australia.

 

Ich bin nicht sicher ob der Kurs wenn die Mine aufmacht auf 10 oder sagen wir 20 Euro geht.

Letztlich wird viel Kapital benötigt werden für Investitionen.
Und da könnte die ein oder andere Kapitalerhöhung helfen....

Aber ein paar Euro Kurs sollten im Eröffnungsfall schon drin sein.
 

re: belcol july 9 

 - .... I for one am very appreciative of your sustained efforts in keeping us all informed.

There is reference to "construction of BCL’s liaison office" .. I imagine that construction of a modern fully equipped office would take a few months at least .... I wonder if they could speed things up by temporarily renting a site shed so as to "hit the ground running" after the Bel Kol ceremony?

I also imagine that Aropa International Airport will be reopened by the 9th July which will help a lot with efficient comings-and-goings.

And wow, what a guest list of countries will be there at the ceremony.

Let's hope that the new ABG mining law is progressing well and also that PNG Govt has a helpful attitude with their 19% shareholding.

All in all an excellent piece of good news for the people of Bougainville and maybe us shareholders too!

Congratulations to the staff of BCL for their efforts.


- Hi All

I just realised that Luxusburger's post had cut off the list of countries at the bottom of the story


Participants include heads of the Australian government, PNG government, United Kingdom, New Zealand, China, Japan and the Pacific region

This is what I was on about in my earlier post ... I think that this is very impressive

 

Source: The National, Thursday May 8th, 2014

I REFER to an article in which Danny Gonol was reported saying “how dangerous it is for PNG to allow Bougainville to have a referendum for independence” (May 2).

Gonol went on to say that for Bougainville to have referendum for independence, it will create a bad precedence for other provinces to follow.

The lawyer must not have heard of the Bougainville crisis which resulted in the loss of more than 20, 000 lives from both parties of the conflict.

He must have not heard of the negotiations between Bougainville and PNG which resulted in the signing of the peace agreement in 2001.

He lacks the knowledge of the fact that the signing of the peace agreement paved way for the amendment of the national Constitution in 2002 which specifically provides for Bougainvilleans to decide through referendum whether to break away from the rest of the country or to remain with PNG.

It is particularly interesting to know that the lawyer has not read about the amended Constitution when all lawyers are all aware of the amendments made in 2002.
Finally, Bougainville is no longer a province of PNG.
It is now an autonomous region and the type of autonomy which it has, is based on the peace agreement which resulted from the Bougainville crisis.

Joel Nava
Port Moresby

The inquiry is divided into two Phases. Phase one will be held throughout the region, particularly, Buin, Tonu, Bana, Panguna, Arawa, Wakunai, Tinputz and Buka from 19th – 26th May 2014 with all the stakeholders on the ground.
The second Phase of the Inquiry will be held in the Bougainville House of Representatives Chamber following the completion of Phase one.

.....................Parliamentary Committee on Peace, Reconciliation, Weapons Disposal and Veterans Affairs is conducting an inquiry into consolidating Weapons Disposal Programs on Bougainville.
The inquiry is open to the public to have your say. But it must be formally written to the address as attached to be the evidence for the committee in their report to the parliament. Thanks

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Anthony Regan meddling in Bougainville affairs: Miringtoro
by ramunickel
Member for Central Bougainville wants Anthony Reagan out for Meddling in affairs of Bougainville and calls for a better mining deal for Bougainville and Papua New Guinea without BCL

Chris Baria


Miringtoro wants Regan, who has links to Rio Tinto, to be deported for meddling in Bougainville affairs

The member for Central Bougainville Jimmy Miringtoro has announced that he will be asking the Papua New Guinea government to give 24 hours notice to the Australian Lawyer to leave Bougainville for allegedly meddling with internal affairs of Bougainville and misleading the people of Bougainville. Mr. Reagan a constitutional lawyer was recently engaged by the Autonomous Bougainville Government as a legal consultant to draft mining legislation which was hailed as "first of its kind" in mining industry by the media.

However, according to the Member for Central Bougainville, the draft legislation failed to live up to its expectations in Bougainville because it deprived landowners of their rights by giving ABG more powers over the mining and minerals resources. He said that there was no wider consultation with the people of Bougainville and therefore the legislation lacked local input.

In response to the recent media reports that the BCL shareholders had voted against independent inquiry into allegations of companies involvement in Bougainville crisis, Mr. Miringtoro said that this came as no surprise to him because BCL had always denied having been involved in taking part in the counter insurgency operations which took the lives of many innocent men women and children in crisis.

On Anthony Reagan"s involvement in Bougainville

Mr. Miringtoro said he had been informed in Panguna that Mr. Reagan had been trying to get Panguna landowners and former combatants to accept the interim mining laws that he had drafted. This is well ahead of proper mining laws coming into force after October and November ABG Parliament sitting.

"Laws written by Mr. Reagan are flawed because they lack input from the wider communities in Bougainville and therefore are in direct infringement of the rights of the indigenous people of Bougainville who are the owners of the resources on their land as stipulated in the United Nations Declaration of the Rights of Indigenous People," he said.

The Member for Central Bougainville also questioned why ABG had engaged a foreign lawyer to work on mining laws when there were national lawyers suitably qualified to do the job. He said that the engagement of Anthony Reagan who has links to Rio Tinto, the parent company of BCL indicated that there were sinister motives on the part of the ABG President stemming from his continued involvement with BCL.

"I am well aware that President Dr. Momis and Mr. Reagan are openly trying to spread fear in the minds of the landowners, former combatants and the people of Bougainville at large that the Government is going to take over the mine. They have been giving the people wrong interpretation of the a certain clause in the infamous Bougainville Copper Agreement which states that after all minerals at Panguna had been extracted and the mine exhausted, BCL would move to Karato and Mainoki which were new tenements. The Agreement goes on to state that after years of operation, CRA would off-load its shares to the National Government. This is misinformation and a dangerous development at a time like this when situation in Bougainville is still very delicate. It is misinformation and the most often the lack of it that led to the crisis

"However, I would like to assure and remind the people of Bougainville and that the Prime Minister during his visit to parts of Bougainville and in all his speeches, has made it clear that his visit had nothing to do with the issue of mining or its re-opening. He also stated that the decision to resume mining in Bougainville or not rests with the people of Bougainville. Now that the whole universe has heard what the good Prime Minister had to say, let us not be troubled by the good President and his Australian lawyer who are clearly doing all they can under the sun, moon and stars to bring BCL back to Bougainville, which is something we don"t want yet.

"ABG is supposed to be a government for the people by the people and not BCL. However, from day one it has been pushing for BCL to re-open and has not listened to people on the ground, who generally believe that if mining is resumed now it will have disastrous effect on people who have not yet properly recovered from the crisis or reconciled with each other.

"My patience with Mr. Anthony Reagan, who is clearly acting on BCL"s interest, has worn out and I will be requesting the National Government to give him 24 hours notice to leave Bougainville and not to return to the region again. He has no right to meddle with the affairs of landowners and mining matters which are sensitive and delicate at this stage. There are Papua New Guinean lawyers who can do the job like the current Attorney General, Mr. Kerenga Kua who is proficient in legal matters and currently dealing with mining laws to liberalize some of the areas in the existing laws to allow for more participation by landowners in sharing benefits from extractive industries.

The Member also called on leaders to have confidence in National lawyers and other professionals instead of continuing to rely on meddlesome and costly foreign legal expertise who can ruin the opportunities of the people to participate in benefit sharing from extractive resources.

A better Mining Deal for Bougainville and Papua New Guinea

The Minister for Communications and Member for Central Bougainville said that he is not surprised by the outcome of the BCL Annual General Meeting in Port Moresby where the shareholders voted against having an independent inquiry into the company"s involvement in the war on Bougainville.

"Before the AGM there were media reports of BCL shareholders calling for an independent inquiry into the company"s part in the mistreatment, death and suffering of Papua New Guinea and Bougainvilleans. These media reports were cleverly crafted to fool us into believing that BCL had nothing to do with the Bougainville crisis. Anyone who does not know BCL would have believed it. However such action by the shareholders only goes to show the people of Bougainville and the world at large how irresponsible, arrogant and ignorant BCL shareholders and the management are and that they are after nothing more than profits from the minerals in Panguna," Mr Miringtoro said.

According to the Member, wider consultation with all people of Bougainville is one of the pre-requisites to resumption of mining on Bougainville. He said that before the people can say their bit they must be made aware of what benefits they would get regardless of what part of Bougainville they are in because the crisis had affected everyone. He also emphasized that the people already had seen what a mine is capable of doing to their land and environment and the impact it will have on their family ties, kinship and their culture.

"The developer must come up with a concrete plan on how problems associated with or in direct consequence of mining will be alleviated. If this is not possible the developer must have enough cash to give the people a life that is justifiably suitable and fair against that they will lose permanently in terms of land, environment, and health problems they would suffer associated with pollution of air and rivers and social inconvenience and erosion of a particular lifestyle," Mr. Miringtoro said.

On the issue of resource ownership the Member made direct references to the concept of "Free Prior Informed Consent" or FPIC under United Nations Declaration on the Rights of the indigenous people. He explained that indigenous people have certain in-alienable rights that cannot be interfered with by the government or the any mining company.

"At each stage of the process value is added to resources extracted from our land and we as resource owners should benefit from all stages of the process financially or otherwise. Currently, this is not happening because our government has compromised our rights and the resource owners get paid meager compensation for crushed rocks.

"The standards of living for the people of this country must be elevated to reflect their loss of land and environment and the loss of peace and freedom enjoyed prior to the establishment of the mine. We all know that our natural, non-renewable resources are extracted to maintain a comfortable life for people in the so-called developed world. These people have no concern for the country and people at whose expense they enjoy a lavished lifestyle. It is time mining companies take direct responsibility of the harm they cause to the host country and its people by providing free healthcare, education, water and sanitation and other necessities deprived by mining. If this is not possible then mining is not an industry that we should be looking forward as a means to develop our country.

"Panguna and other mines in Bougainville will not open unless laws that will protect resource owners" rights and ensure proper benefit sharing are in place and that issues pertaining to mining are resolved. Despite more money pouring out of mines in this country, very little of it goes back to the people of this country. Most of it leaves this country and ends up in foreign coffers while our people sell betel nut, cigarettes and noodles on the street to survive.

"BCL has no right whatsoever to return to Bougainville because its time is up. New tenements will be transferred to the original landowners. These will be held in trust by the newly established district authorities. As a result there is a need for the strengthening of all district authorities in the region. The O"Neill-Dion Government is committed to ensuring that resources owners are adequately compensated for their land with all means to sustain them long after the minerals on their land had been exhausted.

"As the person mandated by the people of Central Bougainville through popular democratic vote and as member of a clan that holds three quarters of land from the pit to tailings dump at Panguna mine, it is my duty to ensure that my people do not become victims and spectators of what happens in their land. If mining were to resume we will be seriously considering its ownership and share-holding so as not to be mere tax beneficiaries but owners of the mine because mining has the tendency to make people of the host country some of the poorest in world," Mr Miringtoro said.

Contact

To learn more about this material, please contact

Chris Baria
Ministry of Communications & Information Technology
Tropicana Building, Gordons Insdustrial Area
National Capital District
Tel: +675 70641962/+675 72500653
Email: bariakristos@gmail.com
ramunickel | May 12, 2014 at 8:59 am | Tags: BCL, Bougainville, Environmental damage, Human rights, Jimmy Miringtoro, John Momis, Landholders, Mining Law, Panguna, Papua New Guinea, Rio Tinto | Categories: Environmental impact, Financial returns, Human rights, Papua New Guinea | URL: http://wp.me/pMvf7-3k5
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....." that after all minerals at Panguna had been extracted and the mine exhausted, BCL would move to Karato and Mainoki which were new tenements."

New post on Papua New Guinea Mine Watch
                    
           §
Prime Minister assures Bougainville on Panguna
by ramunickel

Anthony Kaybing | New Dawn



O'Neill and Momis pose

The two leaders pose for this TONY KAYBING Picture

Prime Minister of Papua New Guinea Peter O’Neill has assured ABG President Chief Dr John Momis that the National Government will not influence the Panguna issue.

Mr O’Neill made this remark during a meeting between the two leaders last week in the nation’s capital.

The Prime Minister said it is not the intention of the National Government to decide or to take control of the Panguna Mine.

The Prime Minister made this remark following the controversial takeover of Ok Tedi Mine by the National Government which saw the PNG Sustainable Program being superseded.

The Prime Minister adds the final decision to reopen the mine rest with the people of Bougainville with their legitimate government the Autonomous Bougainville Government.

Amongst the issues discussed between the two leaders was the correct calculation of the Restoration Development Grant.

President Momis was happy to reveal that both governments have reached a consensus on the issue with the National Government agreeing to pay the outstanding arrears but over a period of time.

President Momis also added that the Prime Minister was happy to hear of the ABG’s initiative to create its own public service which shows its intent to move towards the creation of its autonomous institutions.

Much of what has been discussed between the two leaders will be tabled during the next Joint Supervisory Meeting which is proposed to be held in June of this year.
ramunickel | May 13, 2014 at 5:30 am | Tags: ABG, Bougainville, John Momis, Landholders, Ok Tedi, Panguna, Papua New Guinea, Peter O'Neill, PNGSDP | Categories: Papua New Guinea | URL: http://wp.me/pMvf7-3ki

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Quelle: Radio New Dawn on Bougainville

12.05.2014


Prime Minister assures Bougainville
by Anthony Kaybing

Prime Minister of Papua New Guinea Peter O’Neill has assured ABG President Chief Dr John Momis that the National Government will not influence the Panguna issue.
Mr O’Neill made this remark during a meeting between the two leaders last week in the nation’s capital.

The Prime Minister said it is not the intention of the National Government to decide or to take control of the Panguna Mine.
The Prime Minister made this remark following the controversial takeover of Ok Tedi Mine by the National Government which saw the PNG Sustainable Program being superseded.
The Prime Minister adds the final decision to reopen the mine rest with the people of Bougainville with their legimate government the Autonomous Bougainville Government.
Amongst the issues discussed between the two leaders was the correct calculation of the Restoration Development Grant.
President Momis was happy to reveal that both governments have reached a consensus on the issue with the National Government agreeing to pay the outstanding arrears but over a period of time.
President Momis also added that the Prime Minister was happy to hear of the ABG’s initiative to create its own public service which shows its intent to move towards the creation of its autonomous institutions.
Much of what has been discussed between the two leaders will be tabled during the next Joint Supervisory Meeting which is proposed to be held in June of this year.  

Durch diese positive Meldung, siehe oben, werden schon mal ein paar grüne Kerzen angezündet!  

The draft was presented to the EX COMBATANTS and Sam Kauona told me they had finally agreed on it removing all other clauses that they were questioning. I think it should now cover all our interest.;)  

 

Nekro interna  

http://www.emtv.com.pg/news-app/item/bougainville-mine-law  

http://www.radionz.co.nz/international/...aunching-own-public-service

Updated at 4:51 am today

The chief administrator in Papua New Guinea's Bougainville says the launch of its own public service today will greatly benefit locals

Running its own public service is a cornerstone of the Bougainville Peace Agreement but Port Moresby has, until now, not handed down the powers because it had deemed the province lacked the capacity.

Chris Siriosi says the province has been laying the groundwork for today's development for the past two years.

He says it is something to be proud about and will mean improved services for Bougainvilleans.

"As far as I am concerned I think it will mean bringing public services right down to the grass roots level and making delivery of service much more effective and accountability to the system of local level government here in Bougainville."

Bougainville's chief administrator, Chris Siriosi.

http://www.radionz.co.nz/international/...s-no-reason-to-ban-academic

Updated 34 minutes ago

The President of Papua New Guinea's Bougainville, John Momis, says there is no reason why an Australian academic should be blacklisted and removed from the autonomous province.

Earlier this week the national MP for Central Bougainville, Jimmy Miningtoro, called for the Australian National University's Anthony Regan to be banned.

Mr Regan has worked for the Bougainville Government for many years, most recently on the draft mining law.
no caption

Photo: Rio Tinto

Mr Miningtoro says Mr Regan has links to mining companies - claims both the academic and President Momis dismiss.

The MP also accused him of not consulting widely enough on the mining law.

But Mr Momis says he wants Mr Regan to stay on.

"There are many other people that have come to Bougainville through the back door - some of whom Miningtoro knows, [who] should be blacklisted. Tony Regan has a track record that speaks for itself. Tony Regan qualifies to work here as long as we need him."

The President of Papua New Guinea's Bougainville, John Momis.

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PNG MP accused of lying over Bougainville law consultation claim
by ramunickel
The President of the autonomous Papua New Guinea province of Bougainville says his government has conducted more consultations with the people on the proposed new mining law than any government has ever done.

The autonomous government is promoting mining and the re-opening of the Panguna mine as the best route to economic development for the province.

The President John Momis says the PNG Communications Minister and Central Bougainville MP, Jimmy Miningtoro, is lying when he claims the people's views have not been sought.

He says his government has spoken with the ex-combatants, the landowners and the women across different parts of Bougainville.

"We have spent so much money on consultation precisely because we believe that unless we listen to the people and unless the people understand what we are about, what are our reasons for wanting to re-open the Panguna mine, we would not be doing justice to them."



ramunickel | May 15, 2014 at 5:40 pm | Tags: Bougainville, Human rights, Jimmy Miringtoro, John Momis, Landholders, Mining Law, Panguna, Papua New Guinea, Rio Tinto | Categories: Human rights, Papua New Guinea | URL: http://wp.me/pMvf7-3lx
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Gerade hat jemand 100.000 Stück in Frankfurt zu 0,39 gekauft.  

in Frankfurt, hab ich was verpasst?  

100k kaufen  

...warst, lass uns an der Info teilnehmen. Gern auch über BM. ;-)))))


# 18492      The President of Papua New Guinea's Bougainville, John Momis, says there is no reason why an Australian academic should be blacklisted and removed from the autonomous province.

....halte ich für eine weise Entscheidung. Nicht schlecht.  

 

Quelle: Radio New Dawn on Bougainville

15.05.2014

BOUGAINVILLE PRIORITY OF THE O’NEILL GOVERNMENT

By Aloysius Laukai



The Secretary of the Department of Personal Management, JOHN KALI says that Bougainville is one of the priorities of the O’Neill Government.


He said that the Minister, SIR PUKA TEMU was happy at this achievement but could not make it to this launching due to the current parliament session..........

........MR. KALI said that after the launching, the responsibility and the accountability of the Bougainville Public Service will now be vested on the Chief Secretary and the secretaries and the Ministers of the ABG.

He thanked the Acting Chief Secretary, CHRIS SIRIOSI who has done a tremendous work in working with officers from the Department of Personal Management in the last seven months to deliver to the people of Bougainville.

MR. KALI said that he believes with the ABG in control of its own public service the people will see real change in the delivery of government services to the people of Bougainville.  

Momis Strong Statement !
                    §
Aloysius Laukai 15. Mai 11:49
150514MIRINGTORO STATEMENT FOOLISH IGNORANT AND MISLEADING SAYS MOMIS
By Aloysius Laukai

President of the ABG, Chief DR. JOHN MOMIS today described claims made in a recent Press Statement by the National Member for Central Bougainville as Foolish, Ignorant and misleading.
The President was responding to this week"s claims by JIMMY MIRINGTORO"s statement with wrongly attacked ABG President MOMIS as pushing for BCL to re-open the Panguna mine and has not listened to the wishes of the people on the ground.
MIRINGTORO also claimed that BCL will offload all its shares to the NATIONAL GOVERNMENT and also saying that the ABG legal Adviser, TONY REGAN was recently engaged as legal consultant to draft the ABG Mining law and had links with RIO TINTO BCL"s parent company.
The Member also said that the Legal Adviser had meddled in Bougainville Affairs by advising on Bougainville"s Mining law.
President Momis said that the claims by MIRINGTORO were completely wrong and questioned if he knew anything of Bougainville"s history in which President Momis was a consistent critic of BCL and its treatment to the people of Bougainville.
He said that as the current ABG President, he had examined other options for the re-opening of the Panguna Mine but the leaders of the mine-leased landowners preferred the devil they knew and not a new devil.
At the same time the ABG is aware that under international law PNG and the ABG cannot completely ignore BCL"s existing legal rights.
The President said that MIRINGTORO"s claim that MOMIS said that BCL will offload all its shares to the PAPUA NEW GUINEA Government is also not true as he had advised PRIME MINISTER PETER O"NEILL against any National Government"s move to repeal the Mining(BOUGAINVILLE COPPER AGREEMENT) act or take over RIO TINTO shares in BCL.
He said that it was essential all decisions about the Panguna mine are made only by ABG on behalf of the people of Bougainville.
On the claims of engaging TONY REGAN recently, President MOMIS said that MR REGAN has done legal work for successive governments since 1981.
He said that he was one of the main legal advisers to the combined Bougainville leaders in the negotiations for the Bougainville Peace Agreement and on the making of the Bougainville Constitution.
President Momis said that since the establishment of the ABG, Presidents JOSEPH KABUI and JAMES TANIS engaged him and again he has been asked to help with the ABG Mining law because of his long involvement in Bougainville constitution and legal issues and he once taught Mining Law at the University of Papua New Guinea.
He said that the aim of the ABG is to make sure we have the best possible advice.
The ABG President also said that the ABG is entirely satisfied that MR. REGAN has no links of any kind with RIO TINTO as if he had such links the ABG would immediately get rid of him.
He said that the allegation that MR. REGAN is interfering with Bougainville Affairs by advising ABG Mining Law is ridiculous as MR. REGAN is only acting on the directions of the ABG.
President Momis said that the work of Mr Regan is not limited to Mining as he works on so many other legal matters for the ABG including advising on our Council of Elders act and even the drafting of the MOU with NBC which MR. MIRINGTORO praised when he signed it recently.
He said that the call for MR. REGAN to be deported is shameful and shows appalling ignorance of the requirements of PNG LAW.
The President also said that if the member was not happy with the ABG and its policy it must not attack its advisers but instead talk to him as the ABG President of his cabinet colleagues.
He said that MR. MIRINGTORO is one of several people who at different times in the past two or three years tried to ignore the wishes of the landowners and re-open the Panguna mine using companies other than BCL and questioned whether he was now attacking the ABG because he fears that such plans are threatened by the President making it clear to the Prime Minister that all decisions about the future of Panguna will only be made by the ABG.
Ends