Trading Bougainville Copper (ADRs) 867948

ECONOMIST Paul Flanagan has told Radio New Zealand International that Papua New Guinea’s new government needs to consider a substantial devaluation of the kina.

Mr Flanagan, director of the firm PNG Economics, was commenting on treasurer Charles Abel’s plan to begin addressing the country’s serious economic woes during the government’s first 100 days in office.
He said PNG needed to end its substantial reliance on oil, gas and minerals and also focus on developing sectors such as agriculture.
Mr Flanagan told RNZI that one of the first steps to encourage this should be a substantial currency devaluation which would lower the price of PNG commodities on the export market and make them more competitive.
"It is always a world of hard choices given how far PNG has gone down this slippery economic slope, but there are mechanisms to pick things up again,” Mr Flanagan said.
“One of the best and easiest of those is to make the exchange rate more competitive, allowing PNG to really enter into the Asia Pacific century."
Meanwhile the PNG National Broadcasting Corporation reports that all members of parliament have been asked to submit five-year development plans.
National Planning secretary Haukava Harry  said her department will assist MPs develop plans for their electorates.
 

For anyone interested the 'disputed' leadership issue of the SMLOLA appeared in court yesterday & the parties accepted the judge's ruling for mediation to be held in Buka on, or commencing on September 19.

The dispute involves the refusal of the ABG & BCL to recognise the democratic election of Phillip Miriori as chairman of the SMLOLA at the SMLOLA AGMs in 2016 & 2017. Miriori was unanimously elected unopposed chairman at both of these AGMs.

The ABG had stiil tried to recognise Lawrence Daveona as chairman & listed him as the SMLOLA chairman to sign the MOA that they produced for landowners. BCL ignored Miriori as chairman & attempted to deal with Daveona as chairman of the SMLOLA.

This non recognition of the democratic leadership of the SMLOLA was unacceptable to the SMLOLA & consequently the SMLOLA took legal action in the National Court.
At a hearing on June 16 Judge Kandakasi placed restraining orders on Daveona holding himself as chairman,  any implentation of the MOA if signed & Daveona from signing any MOA on behalf of the SMLOLA.

Yesterdays orders for mediation are made in order to resolve this dispute over who is the chairman of the SMLOLA, although the SMLOLA committee & membership have no doubt who their elected leader is, Phillip Miriori.

Given the petition of more than 500 signatures that the SMLOLA presented to the ABG, opposing the return of BCL to Pnguna to explore or mine, this is a very important decsion.  

koud.he: Kennen Sie die Quelle für das Schreiben oder ist es der Original-Beitrag von "Danehill" (BOC, HotCopper) ? Einen Pressebeitrag wurde hierzu bisher noch nicht gefunden.

 

 

Laut meiner Info

12.9-16.9 .2017   Preparation Mediation
Facilitators: Panguna Young Leaders Generation

18.9      Mediation  between Daveona&Miriori
Facilitators: All Panguna SML Legal Title Holders

Quelle nekro

 

"BCL would open the mine with our participation, in which we, the Osikiang landowners, we have our partner, who will partner with us, in a joint venture arrangement with BCL - that is our position.

"http://www.radionz.co.nz/international/...-want-panguna-joint-venture

Phillip Miriori möchte auch ein joint venture, jedoch mit RTG und ohne BCL, um damit Rio zu vermeiden ? Vielleicht gibt es eine Einigung in der Weise, dass BCL von der SMOLA doch akzeptiert wird, wenn Rio als joint venture Partner von BCL definitiv ausgeschlossen wird ?

Hinsichtlich der Generierung von Erträgen spielt die Zeit auch gegen die SMOLA !  

World copper mine output falls 3% in first 5 months of 2017
19 AUGUSTUS 2017 00:59
Mining Weekly | Aus.  /  Henry Lazenby
Global copper mine output was 3% lower year-on-year during the first five months of 2017, the latest data from the International Copper Study Group (ICSG) showed on Friday. Concentrate production declined by around 2.5% and solvent extraction-electrowinning (SX-EW) declined by around 4.5%.  

... sehen wir wieder Kurse im Bereich der 20iger AU Cents. Ist einfach ohne News keine Nachfrage ner da und ein Tröpfchen im ASK reichen dann schon aus, um uns unter die 30 zu drücken.

Aber was soll's: auf die paar Monate ...  

Fahrplan für die nächsten Tage :

21/8 Awareness at Oune/Tonanau(Tunnel Ioro 2 Coe)
22/8 Awareness at Kokore (Kokore Pr.School)
23/8 Awareness at Poaru (Poaru Village )
24/8 Awareness at Panguna Urban (PDA Conference Room

Will damit sagen ,...
nix passiert nicht da unten ;)


 

Bougainville Copper Limited (BCL) hat sich endlich wieder auf Bougainville als voll lokal besessene PNG-Einheit, etabliert.BCL kehrte zurück und hielt seine erste Vorstandssitzung in mehr als 27 Jahren in Buka am 3. August.
Es nahmen teil  der Vorstand unter der Leitung von Vorsitzender Robert Burns, der ehemalige Premierminister Sir Rabbie Namaliu und ehemalige Senioren Dame Carol Kidu und Sir Moi Avei, die von Mitgliedern der BCL-Geschäftsleitung zusammengeschlossen wurden. Das Büro befindet sich in Buka, wird von Ephraim Eminoni geleitet, der das lokale Team des Unternehmens leitet.

Burns sagte, es sei ein Neuanfang für BCL als eigenständig betriebenes PNG-Unternehmen nach Rio Tintos vollständigem Ausstieg Mitte 2016.

Die Aktionäre sind jetzt PNG-Bürger, Bougainvilleans, die Autonome Bougainville-Regierung (ABG) (36,45 Prozent), der Unabhängigen Staat Papua-Neuguinea (19,06 Prozent) Eda Minerals (17,39 Prozent) und eine Minderheit * 27,19 %* von Außenstehenden.

"Die Buka-Vorstandssitzung war für uns als Unternehmen und zeigt unser hohes Maß an Engagement vorwärts für Bougainville ", sagte Burns.

Sowohl der Vorstand als auch das Senior Management trafen sich gemeinsam mit dem ABG-Präsidenten John Momis und dem Vizepräsidenten Raymond Masono, um wichtige Fragen zum BCL-Panguna-Sanierungsplan zu erörtern.

"Wir freuen uns über die laufende Unterstützung der ABG und die Tatsache, dass sie ihre Position in Bezug auf ein neues Panguna-Minenprojekt mit BCL als Entwickler stark umgestaltet haben", sagte Herr Burns.

Das Unternehmen traf sich mit Vertretern der neun Grundbesitzerverbände, die in Buka für ihr zweimonatliches Treffen waren.

"Die wichtigsten Mitglieder unseres Teams, darunter der Geschäftsführer Justin Rogers und der hochrangige Projektoffizier Ezekiel Burain, die beide in Bougainville sehr gut angesehen sind, hatten die Möglichkeit, die Grundeigentümer auf unsere unmittelbaren Community-Engagement-Pläne sowie auf den Prozess  die gesetzlichen Ausgleichszahlungen von 1990 zu aktualisieren", sagte Burns.

"Wir freuen uns, dass wir seit den ersten Besuchen der Projektgemeinschaften im Dezember letzten Jahres noch 90 Prozent der Blocktitel älteren Zahlungen abgeschlossen haben, die unser Engagement für den Aufbau von Vertrauen mit den Grundeigentümern demonstrieren."

Burns sagte während der Sitzung, Landbesitzer Vertreter äußerten den Wunsch, die Panguna Projekt Fortschritt im Gegensatz zu Einwänden von einer Minderheit zu sehen.

Die Befürwortung, zum Beispiel von einigen der Frauenführer, die anwesend waren, war sehr ermutigend.

 

Global mining major needed to re-open Bougainville’s Panguna copper mine?


Kevin McQuillan | Business Advantage PNG | 18 July 2017

Moves to re-open the Panguna copper mine on Bougainville are gathering momentum. Funding the re-opening is a key concern, however, says Bougainville President, John Momis. Could one of the global mining majors get involved?

Bougainville Copper Ltd (BCL) is currently advertising for a local Bougainville-based manager, and are looking at the payment of K14 million in rent and compensation that was owed to the 812 customary clan groups who own the blocks of land within the mining lease areas.

Autonomous Bougainville Government President John Momis tells Business Advantage PNG, that over the next year, he expects BCL to open an office and ‘start dealing with some of the legacy issues, demonstrating BCL’s commitment, in a just and fair way, to some of the real issues that have been bothering the land owners.’

That includes, he says, the ecological, environmental, and health damage issues caused by former owner, Rio Tinto.

‘They have walked away, so now BCL has to address that.’

Momis says the Joint Steering Committee preparing for the mine’s re-opening consists of representatives from the nine official landowner groups, BCL, the national government, and the ABG, and is to be chaired by an independent chairman.
Funding

A key challenge is the cost of reopening the mine; back in 2012, BCL estimated it would be US$5 billion.

‘BCL has to demonstrate to us they have ability to solicit funds and attract a developer and I’m sure they are thinking about this,’ says Momis, pointing out that under Bougainville’s 2014 Mining Act, BCL has first right of refusal about re-opening the mine.

‘The Panguna mine is a “high-risk, high-return” investment.’

‘We are giving BCL the opportunity to get funds and to meet the conditions as per the mining law. If they fail, then other companies will have to apply and be put through this process.’

Mining industry analysts describe the Panguna mine as a ‘high-risk, high-return’ investment, which only global miners would be interested in.

Greg Evans, KPMG’s Perth-based Global Leader, Mining Mergers and Acquisitions, believes there will be considerable interest.

‘If you look at what the resource is, and what it can deliver to both an owner and investor—and, probably more importantly, the local economy—it would have to be a definitive “yes”.

‘The copper price is heading in the right direction, the supply metrics are working in the favour of copper broadly and I would expect that BCL are being approached reasonably regularly by a number of metals traders.’

Evans points to growing demand for copper, noting that batteries in electric vehicles are likely to use 927,000 tonnes of copper a year by 2030, according to forecasts by Bloomberg New Energy Finance. That alone equates with 5 per cent of current production.

Evans believes a global miner, ‘like Glencore or similar’, is likely to become involved.

‘KPMG just completed a survey around transaction activity across a bunch of sectors. In the mining sector, the preference of the majors was particularly for joint ventures at the asset level.

‘Batteries in electric vehicles are likely to use 927,000 tonnes of copper a year by 2030.’

‘To me, that would be the form that a transaction would likely take. BCL would ensure the social licence to operate, and look after stakeholder management, political and administrative management on the ground, with perhaps a partner coming in providing financial and operational support.

‘So, it is likely to be a large industry player used to dealing in remote locations, eliciting strong local community engagement, and creating local employment as an obligation and priority. All those things are going to be required.’
Risks

Satish Chand, Professor of Finance at the University of New South Wales and based at the Australian Defence Force Academy in Canberra, says risk assessment will be crucial.

‘There has been a history of conflict where a very small number within the population has the ability to stop a very large mine. That risk remains.

‘There is a contest over the distribution of proceeds and that has not yet been settled to my understanding. There is little that is known about the magnitude of the cost involved in the clean up.’

Chand notes that the Bougainville Mining Act says 51 per cent of the mine must be locally-owned. The non-binding referendum on Bougainville’s independence from PNG scheduled for 2019 must also be considered a ‘risk’.

Greg Evans agrees the local shareholding requirement makes the financing prospect ‘more challenging’.

‘The biggest successes that the majors have had in countries such as Africa and South America, have been where they’ve engaged local communities, shared the profits, and shared the benefits. The control over how those profits flow and are allocated is equally the challenge—as it is the solution.

‘You’ve always got to come back to the quality of the resource; which will always make it attractive.’

ramunickel | August 23, 2017 at 8:08 am | Tags: ABG, BCL,  

Global mining major needed to re-open Bougainville’s Panguna copper mine?
In "Financial returns"

Bougainville could have two mines: Momis
In "Papua New Guinea"

Bougainville Copper maintains inside running on re-opening Panguna mine
In "Financial returns"

August 23, 2017
 

MAC [Mines and Communities] | Nostromo Research | 18 July 2017

Odds seem loaded against recent moves

When the great - no doubt sometimes also good, but frequently woefully ignorant - among mining outfits (and their desk-bound investment advisors) look at a risk-laden, problematic, prospect like Bougainville Copper Ltd's Panguna mine, any upturn in commodity markets are apt to be heralded as a golden opportunity.

And also give a boost to the fortunes of the existing incumbent company BCL, however dubious its ownership claims may be.

Two such "experts" - Greg Evans of KPMG and Satish Chand, a professor of finance based at Australia's Defence Academy (sic) - acknowledge some of the risks involved in finding a major player to bankroll restart of the Panguna mine, estimated by BCL itself to cost around US£5 billion.

But they appear to have little understanding of the increased financial burdens that will be incurred, not least in compensating a fully-independent Bougainville for the vast damages caused by former lease owner Rio Tinto, as well as the strong likelihood of local bitter opposition - especially by women - to the mine's re-opening (see article below).

These risks were clearly set out in a paper published by Nostromo Research and geophysicist Dr. Mark Muller at the end of 2015. It asserted that, inter alia:

A new mine is at least five – possibly ten years – away from any profitable production;
Judging by the amounts and grades of copper and gold in the existing Panguna mine lease area, any company re-opening the mine will struggle to compete against global competitors, and is likely to fail;
In order to attract mine development funds, BCL must acquire new prospecting ground outside the current licence area. It's doubtful this would yield significant fresh economically-recoverable ore reserves;
Even if these were implemented, they would necessitate significant additional operating costs; and would materially increase threats to the integrity and health of landowners' land and water;
It's highly improbable that any [major] mining company – including Rio Tinto and Chinese ventures - would be seriously interested in re-opening Panguna (See: Would restarting Panguna contribute to Bougainville sustainable development?).
John Momis, head of Bougainville's Autonomous Government, earlier seemed to accept such evidence, and dispute BCL's right to resume mining (See: Has Bougainville president done a U-turn on Panguna?).

Alas - the lure of fresh money, however speculative, has proved  a powerful force in influencing the president to place his faith in "the devil we know", rather than admit to the true nature and shameful history of that particular enterprise.
 

Bougainville group adamantly against renewed mining

Radio New Zealand |  23 August 2017

A group calling itself 'Bougainvilleans United Against Mining' has re-stated its opposition to a resumption of mining at Panguna.

The government in the autonomous Papua New Guinea province wants the huge copper and gold mine re-opened to give the economy a lift ahead of the independence referendum to be held in 2019.

Bougainville's Mining Minister Raymond Masono this week applauded a joint resolution by ex-combatants to back the re-opening, but one of those praised by the minister, a former Bougainville Revolutionary Army commander, James Onartoo, said he and his group do not support it.

Mr Onartoo said their group, which includes many women, landowners and ex-combatants, will not support Panguna being re-opened, or mining anywhere on Bougainville.

Members of the group joined a blockade that stopped the Autonomous Bouginaville Government (ABG) from signing a memorandum of agreement with landowners at Panguna two months ago.

Mr Onartoo says the ABG is weak and lacks the laws and systems to effectively regulate and deal with a large scale mine.

He says without these mechanisms in place a resumption of mining will cause more harm than good.  

http://postcourier.com.pg/masono-applauds-joint-resolutions/

25/8 Awareness at Guava/Mosinau(Community Hall )
26/8 Awareness at Bovonari(Kaino Village)
27/8 Awareness at Paraiano (Paraiano Village)
28/8 Awareness at Ikioute Village
29/8 Meeting with SML Executives-Arawa
30/8 Resolution Petition letter to Miriori by CG Authority  

Tja, wie immer, ein totales Hickhack und Durcheinander ...

https://ramumine.wordpress.com/2017/08/24/...-to-reopen-panguna-mine/  

.......Mr. Onartoo also said that he and his group which includes, women, landowners and the ex- combatants of South and Central Bougainville remain firm that Panguna must not be reopened. He pointed out that ABG is weak and lacks laws and systems to effectively regulate and to deal with a large scale mine. He said that without these mechanisms in place mining will cause more harm than good to the region..........

.........dann sollte man diese Gruppe, explizit den Sprecher mal dazu auffordern darzulegen was denn von ihnen in den letzten Jahren für ein *besseres Bougainville* geleistet wurde.

(Besser in dem Sinne das alle ausnahmslos einen Fortschritt erfahren haben)


Die Antwort wird wohl keinen erstaunen. ;-))

 

Bin mal gespannt, ob angesichts eines im BID nahezu leeren OBs in AU der eine oder andere jetzt spekulativ verkaufen wird, um dann im Fall der Fälle wieder unter 20 AU Cents einzusammeln.

Da im BID nur rund 100k bis unter die 20 Cents stehen, wäre ein kurzfristiger (?) Absacker zumindest leicht vorstellbar. Zumindest leichter vorstellbar, als dass wir ohne News derzeit die 40 knacken (> 300k im Ask bis 42).

Hoffen wir mal, dass asap ein den Kurs unterstützender Newsflow eintrifft.  

......Hin und her macht Taschen leer.;.)))

Könnte zumindest zum jetzigen Zeitpunkt  so sein   oder so könnte man die BID-ASK  Seiten auch interpretieren.  Das Risiko ist doch viel zu groß     das Volumen zu klein :-)  

Nur meine Meinung.  

Persönlich bin ich da "bei dir".

Ich schrieb ja auch nur, dass ich mal gespannt sei, ob ...

Für mich selbst kommt ein "Traden" ohnehin nicht infrage. Die Teile liegen nun schon seit Jahren im Depot bzw zu 90% eingetragen in AU im Shareholder Record und sind/waren gedanklich schon auf 0,00 abgeschrieben. Ich denke, es geht mir da wie mitlerweile vielen anderen der hier seit vielen, vielen Jahren "Einsitzenden": Wenn es wider Erwarten doch noch klappt, SUPER, wenn nicht, dann halt Pech gehabt ....

Du hast halt Recht wenn du sinngemäß sagst, dass es jeden Tag, jede Minute nun jene lang erhoffte News gibt. Und dann ist es zwar nicht zu spät, um Aktien zu kaufen. Allerdings wird dieser Kauf dann in Preisregionen sein, die im Vergleich zum heutigen Kurs astronomisch höher liegen.

In diesem Sinne..... astronomische Wochenendgrüße nach Deutschland und uns allen noch viel Erfolg mit den alten Böcken.... ;)
 

August 23, 2017
BY SEBASTIAN HAKALITS

The vice president and minister responsible for mining of the Autonomous Bougainville Government Raymond Masono has applauded the joint resolution of Central Bougainville ex-combatant advisory council to support the re-opening of the Panguna mine and for mining in Bougainville generally.
Mr Masono was referring to an article in the Post-Courier on August 18 during which Ishmael Toroama representing those for the reopening and James Onato representing those previously opposed to the reopening of the Panguna Mine, issuing a joint pledge to support the reopening of the mine.
“It is important that different factions in Bougainville begin to look at the big picture in terms of the kind of Bougainville society that all had suffered for during the decade-old conflict,” Masono said.
“The ABG must not only satisfy some level of fiscal self-reliance as we move ever closer to the conduct of the referendum in 2019 but would also need to raise its own revenue to fund its service delivery and development programs if the majority voted to break away from Papua New Guinea and I hope that the joint resolution of the Central Bougainville ex-combatants advisory council will pave way for the signing of the memorandum of agreement between ABG, special mining lease (SML) Osikayang landowner association and the eight mine affected landowner associations, ex-combatants and other major stakeholders of the Panguna Mine.”
The Mining Minister is encouraging the two opposing landowner groups that are still fighting over the leadership of SML Osikayang Landowner Association to amicably resolve their differences by mediation, holding of the annual general meeting and the conduct of the elections for new association executives.
Mr Masono thanked the independent mediation team led by Ishmael Toroama for their efforts over the last six weeks to consult with ex-combatants that has resulted in the joint resolution to support the re-opening of Panguna Mine.
He said that although the finer details of the joint resolution has not yet been made available to the ABG, the support of those who initially closed the Panguna mine at the late Francis Ona’s orders is a significant step to redevelop a project that can bankroll Bougainville’s political aspirations as well as sustain its long term economic development.

....das unterschreibe ich Punkt für Punkt. ;-)))

Ebenfalls ein entspanntes Weekend nach da draussen.  

http://www.radionz.co.nz/international/programmes/...-on-bougainville

Die Erschwernis einer Wieder-Eröffnung der Panguna Mine stellt sich fast vergleichbar mit einem Wieder-Anschalten der stillstehenden Atomkraftwerke durch die GRÜNEN dar, sogar wenn alle Lichter schon ausgegangen sind.
Möglicherweise sind die Chancen mit unseren Politikern doch noch größer, zusätzlich den Verbrennungsmotor in DE zu vernichten, bevor diese Mine auf Bougainville wieder in Betrieb geht.  

Heute, um 21.15 Uhr, auf DMAX ein Film über "Goldgräber mit schwerem Gerät" auf Bougainville