Trading Bougainville Copper (ADRs) 867948
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........Bel Kol
The ABG Bel Kol Events Committee is tasked with
organising the customary ceremony known as Bel
Kol, which has been described as a cooling of the
heart, or a lowering of the emotional temperature.
This sensitive ceremony has been in planning for
some time. Planning has had the positive result
of facilitating better understanding between the
company
, ABG, ex-combatants and community
leaders.
The company has been a member of the Bel Kol
Events Committee since November 2014. Despite
a recent cessation of visits to Arawa by company
representatives, planning for Bel Kol continues.
Bel Kol is now planned for 2016.
.... reality is that irrespective of which laws are in place and Bougainville Copper doesn't concede that one, either the national law or the Bougainville law aren't inconsistent with one another and it needs to be resolved somehow. But irrespective of the legal position the reality is that the company is going to have to negotiate an equitable arrangement with the landowners and the Bougainville government before the mine will re-open.....
Eigentlich gibt es in der Presse nur zwei Lager. Die Antimining-Fraktion die immer nur Blödsinn schreiben und die Anderen, die die lancierten Pressemeldungen immer wieder gegenseitig abschreiben.
Solange es in den Köpfen der Bougies nicht KLICK macht, passiert da unten gar nichts.
Die Hardliner machen sich selbst durch illegalen Goldabbau die Taschen voll. Erst wenn die anderen Bougies das schnallen kann sich was ändern.
Erst kommt das Referendum. Dann stellen sie fest, dass sie pleite sind.
Dann wird AUS, NZ, die Weltbank, der Pabst usw. angepumpt.
Wenn die Mehrheit dann merkt, dass sich die Hardliner die Taschen vollmachen geht eventuell was. Falls nicht, geht auf Bougainville "nur" das Licht aus und statt in die "Kupferzeit" kehren sie in die Steinzeit zurück.
....daß in erster Linie Papier vollgeschrieben wird bzw. Dateien ;-)) und wenn es ganz dumm läuft
(Betonung liegt dabei auf: dumm) entwickelt es sich so wie v.d. beschrieben.
Man möchte in diesem Kontext Tag für Tag ein Stoßgebet in den Himmel von Bougainv. schicken das da lautet: >Herr schmeiß Hirn vom Himmel < ;-))
Bougainville is an autonomous part of PNG, and fought a decade-long civil war with the national government that ended in 1999.
The region must hold an independence vote by 2020 under the terms of the Bougainville Peace Agreement, but the new target date is not final.
President Momis said the decision had kickstarted the planning process ahead of the historic vote on June 15, 2019.
"With that date now agreed, we can plan the steps required to hold the referendum, and the time and the funding and personnel needed to carry out each step," he told PNG's Post Courier newspaper.
The PNG Government has also committed to funding referendum preparations, and it is hoped the decision will lead to full weapons disposal in Bougainville.
Some factions in Bougainville held onto their weapons after the conflict in case PNG would not allow the referendum to proceed, but President Momis said those suspicions could undermine the vote.
"I call now for full weapons disposal … only then will Bougainville be able to be referendum-ready. The Bougainville Peace Agreement requires that the referendum be free and fair," he said.
"There should no longer be any doubt among Bougainvilleans whether or not the referendum will be held."
ABG to receive owed restoration grants
BY Anthony Kaybing
The Autonomous Bougainville Government will receive in access of K100 million as payment for the Restoration Development Grant arrears owed to it by the National Government.
This follows the Joint Supervisory Body Resolutions from last Friday that held the National Government to honour its commitment to pay as per the 2014 Resolution Number 8 that calls for “the National Government to make payments of K30 million beginning in 2015.
The JSB is co-chaired by the Prime Minister Peter O’Neill and ABG President Grand Chief Dr John Momis and made up politicians and bureaucrats from both governments.
It further goes on to add that an amount of K96.6 million that was supposed to be paid over three years must now be adjusted to cater for any additional outstanding RDG payments up to
2016.
Despite this seemingly positive step, there has long been animosity between the ABG and the National Government on the correct formula and calculations of the RDG which is a constitutionalised grant guaranteed to the people of Bougainville under the Bougainville Peace Agreement and the PNG
Constitution.
There is also no clear indication as to when the National Government will make good on its promise with the current financial predicament faced throughout the country.
The JSB has agreed that whilst this payment is made both the ABG and the National Government will seek an independent interpretation of the RDG formula and calculations.
If the ABG or the National Government do not accept the independent interpretation they are free to seek an interpretation from the Supreme Court to address the issue once and for all and the results of the Supreme Court will accepted by both parties.
The other important grant Bougainville receives from the National Government is the Special Intervention Fund that was initiated by the then Somare Government in 2011 is a K500 million conditional grant given to Bougainville by the then Somare Government disbursed at K100 million per year which concentrates on high impact projects in the region.
The JSB has endorsed that a technical team from relevant agencies will review its progress and recent development and advise the JSB.
The review will look at what projects have been completed, support that is needed and for the National Government to arrange financing and propose for development partners funding assistance for the outstanding SIF contracts of K400 million and the inclusion of Agriculture programs in the future.
@ nekro
......he review will look at what projects have been completed, support that is needed and for the National Government to arrange financing and propose for development partners funding assistance for the outstanding SIF contracts of K400 million and the inclusion of Agriculture programs in the future.........
Auf den Punkt gebracht: Verzögerungstaktik pur. So wird agiert wenn man etwas nicht tun will besonders wenn man sich den Zeithorizont ansieht. Keine Stunden, Tage oder Wochen.........nein Monate, Jahre.
Her sind einige Beteiligten nicht Teil der Lösung, sondern Teil des Problems.
- bei einer überschaubaren Lage bzgl. dieser Projekte muß erst wieder der aktuelle Stand geprüft werden anders formuliert: wo sind die spärlichen Gelder hin ?
- Versprechungen für die Zukunft werden formuliert die dann wieder nicht eingehalten werden können. ;-)
240516 PANGUNA MINE PIT A TOURIST ATTRACTION
By Tom Kathoa
The giant Panguna Mine Pit left behind by the Bougainville Copper Company`s (BCL) closure is an impact tourist attraction.
This is according to the Director of the Bougainville Office of Tourism, Mr Lawrance Belle who is currently in Central Bougainville conducting tourism awareness in the region.
Mr Belle speaking from Arawa where his team will spend a week awareness there.
Ends
....gehört die `no go area´ jetzt doch der Vergangenheit an ? .-))
Historic referendum decisions reports Momis after JSB
==================================================
President Momis Opening JSB -Statement from JOINT SUPERVISORY BODY PORT MORESBY
https://bougainvillenews.com/2016/05/21/...ody-port-moresby-may-2016/
==================================================
Company Announcements Office
Australian Stock Exchange Limite,
Annual General Meeting
– 1 June 2016
Bougainville Copper Limited
The Chairman and Managing Director of Bougainville Copper Limited, Mr Peter Taylor, has told the 2016 Annual General Meeting that the company remains committed to the vision of sustainable mining on Bougainville.
In his address to the AGM held at the Grand Papua Hotel in Port Moresby on Wednesday, 2 June 2016, Mr Taylor outlined the activities of the past year and was positive about the growing strength of the company’s relationships in the autonomous region.
“The company has had positive engagement with many of the local interest groups from the project area, including landowners,” Mr Taylor told the audience, which included shareholders.
“While there are some landowners opposed to reopening the mine for a range of reasons there appears to be a clear majority in favour of redevelopment.
“Throughout the year,” Mr Taylor continued, “the company management maintained its own fruitful dialogue with a wide range of Bougainvillean interest groups.
“There is a wide range of interests, and we are trying to listen to them all.”
Mr Taylor also stated that BCL is still committed to the potential resumption of mining.
“The vision to return to active exploration and profitable, sustainable mining remains,” Mr Taylor said.
“The company is well positioned to recognise the opportunities inherent in recent challenges, and to maintain progress in a new year.
“I believe a majority of the Bougainville people, who will soon participate in a referendum on Independence, clearly see the importance of economic self-sufficiency that could potentially be provided by mineral resource exploration and development.”
The AGM also saw the re-election of Dame Carol Kidu to the BCL board of directors. Dame Carol joined the board in April 2013.
Also present at the AGM were the other members of the BCL board, Sir Rabbie Namaliu, Robert Burns, Adam J. Burley and the BCL Company Secretary, Mark Hitchcock.
und noch ne kleine Info
http://stocknessmonster.com/news-item?S=BOC&E=ASX&N=450358
schönes weekend
Friday, 3 June 2016
BOUGAINVILLE Copper has not had access to its mine and tailings area since the suspension of mining but now there were reports of “industrial scale reprocessing of mine tailings” at Panguna copper-gold-silver mine.
Graphic model of a re-opened Panguna pit courtesy of Bougainville Copper Limited.
This was said by chairman Peter Taylor when he addressed shareholders at the company’s annual general meeting on Wednesday.
However, Taylor said that the company still had the vision to return to exploration and profitable, sustainable mining remained the objective.
“The company is well positioned to recognise the opportunities inherent in recent challenges and to maintain progress in the new year. The Bougainville people, who will soon participate in a referendum on independence, clearly see the importance of economic self-sufficiency that could potentially be provided by mineral resource exploration and development,” Taylor said.
Taylor said that the company’s relationship with Autonomous Bougainville Government President John Momis remained cordial and that in April, BCL management joined a business delegation to Buka where ministers and business leaders expressed support for BGL.
He added, however, that there was still “some opposition from vested interest groups” to the return of BCL and ABG policy on mining.
But Taylor said that relationships with landowners were mainly positive and settlement had been reached on long-standing claims relating to the year after the suspension of mining.
Taylor said that 53.83% shareholder Rio Tinto was still conducting a strategic review of its holding and the “BCL board continues to engage with Rio Tinto regarding the status of the review”
by bougnews
eight_col_Panguna_1
"The relationship between President Momis, his government, and the Board and management of Bougainville Copper remains cordial. In early April management joined a business delegation to Buka where there was an opportunity to meet with the President and a number of ministers as well as business leaders. Support for BCL was strong among the group we met.
That is not to say there isn’t some opposition and challenges. A letter addressed to me from a group of ex-combatants and one to President Momis in reaction to the ABG debating the lifting of the moratorium on exploration and mining outside the BCL area suggests there are some vested interest groups who oppose the return of BCL as well as opposition to some mining related Government policy."
The chairman and managing director of Bougainville Copper Ltd, Peter Taylor, says the company remains committed to its vision of sustainable mining there.
See Chairman's Address below
He told the annual meeting in Port Moresby on Wednesday that they are happy at the growing strength of the company's relationships in the autonomous Papua New Guinea region.
BCL's closed Panguna mine was at the centre of the violence that tore Bougainville apart in the 1990s.
The Bougainville Government is keen for a resumption of mining and Mr Taylor says the company has had positive engagement with many local interest groups, including landowners, in the Panguna area.
bcl-logo
Chairman’s Address to 2016 AGM – Full transcript
On 1 June 2016 Bougainville Copper Limited held its Annual General Meeting at the Grand Papua Hotel in Port Moresby, Papua New Guinea. The AGM provided an opportunity the Chairman Mr Peter Taylor to make a statement concerning the up to date affairs of the company and the following is a transcript of that speech in its entirety. A PDF of the address with slides from the presentation can be downloaded here.
Financial Results
The results for the year ended December 31, 2015 as reported in the Annual Report, recorded a loss after tax of K 37.9 million. A tax expense of K31.4 million was expensed as a result of resolution of a previously reported tax case. The loss of K37.9 million compares with an overall loss of K175.7 million in 2014 which included an asset impairment charge of K166.6 million.
Revenue from interest and dividends from investments was K4.8 million compared to a budget of K5.0 million.
Operating expenses were K11.3 million compared to a budget of K13.6 million reflecting scaling back of work programs driven by tenure uncertainty.
The company will not pay a dividend.
The company has sufficient funds to cover its recurrent expenditure under the current three year plan and is debt free.
Liquid Assets and Investment Strategy
At the end of 2015 the company’s liquid assets were K29.5 million in cash and $A 50.0 million (K108.9 million) in Australian listed equities. The company’s investments are linked to the performance of the Australian equities market.
Governance
Bougainville Copper has governance reporting obligations to the Australian Securities Exchange (ASX). A statement on the company’s compliance with the ASX Corporate Governance Principles and Recommendations is contained within the annual report. In addition, the company complies with Rio Tinto’s comprehensive range of policies including safety, environment, financial management and other governance practices.
Safety and Risk Management
Bougainville Copper is particularly safety conscious and has in place a comprehensive set of safety standards to ensure that it provides a safe working environment and that its employees and contractors comply with best practice safety procedures. The company complies with the requirements of the Rio Tinto safety policy.
The management of Bougainville Copper undertakes regular risk reviews. The aim of these workshops is to identify risks and opportunities facing the company, and to allocate responsibility for each to a member of the management team. The company has ensured compliance with its own policies.
Bougainville Copper Foundation
Bougainville Copper has continued to support the work of the Bougainville Copper Foundation. This is an independent, “not for profit” company that has been funded by Bougainville Copper since its inception.
In 2015, as in previous years, the Foundation had more than 100 Bougainville students on scholarships. Many are continuing to be supported in 2016.
The Foundation also undertakes “special projects” on a needs basis with the emphasis placed on education, peace and good governance.
The Foundation is proud of its achievements and those of its former scholars who are contributing to the development of Bougainville.
Rio Tinto Review
On 18 August 2014, following the announcement of the proposed new Bougainville Mining Act, Rio Tinto announced a strategic review of its shareholding in BCL. The Rio Tinto review remains ongoing and the Board continues to engage with Rio Tinto regarding the status of the review.
Strategy
The company’s priority is to secure its tenement position and a sustainable social license sufficient to underpin any potential decision to proceed with mine study and development. The Board continues to proactively assess its strategic options.
Tenement Position
The company continues to maintain in good standing all tenements under the Bougainville Copper Agreement. In August 2014 The Bougainville Government passed what was titled an interim mining act that among other things purported to cancel all of BCL’s mining tenements held under the BCA (SML1, 7 ELs and associated leases for mining purposes – about 67,000 hectares) and replaced the special mining lease (SML1 – 3770 hectares) with an exploration licence (EL1). To preserve optionality, BCL has prepared applications for additional tenements it will need for the potential redevelopment of the mine.
Government Relations
The relationship between President Momis, his government, and the Board and management of Bougainville Copper remains cordial. In early April management joined a business delegation to Buka where there was an opportunity to meet with the President and a number of ministers as well as business leaders. Support for BCL was strong among the group we met.
That is not to say there isn’t some opposition and challenges. A letter addressed to me from a group of ex-combatants and one to President Momis in reaction to the ABG debating the lifting of the moratorium on exploration and mining outside the BCL area suggests there are some vested interest groups who oppose the return of BCL as well as opposition to some mining related Government policy.
Community Relations
The company has had positive engagement with many of the local interest groups from the project area, including landowners. Bel Kol is part of this process. Preparations for Bel Kol are continuing.
The relationship with landowners is mainly positive and agreement has been reached to settle long-standing claims relating to the year following the suspension of mining operations. While there are some landowners opposed to reopening the mine for a range of reasons there appears to be a clear majority in favour of redevelopment.
Throughout the year, company management maintained its own fruitful dialogue with a wide range of Bougainvillean interest groups, through regular meetings at Buka, Arawa and Kieta, with landowners, ex-combatants, women’s groups, ABG agencies, aid donors and other stakeholders.
There is a wide range of interests, and we are trying to listen to them all.
Tailings and Mining
Since mining was suspended the company has not had access to the former mine and tailings area. I have received reports that in addition to artisanal mining there is now industrial scale reprocessing of former mine tailings.
Events on Bougainville
Although there is continuing growth in commercial activity throughout Bougainville, the Autonomous Region is still very dependent on funding from the National Government and aid donors.
The date for the referendum has been set for June 2019. The National Government has committed support to fund the referendum preparations.
It is important that the long term regime for Bougainville is determined so the company can factor this into its studies for potential redevelopment.
Conclusion
Reports and commentary on company activities are regularly reported to the Australian Securities Exchange and associated media, and can also be accessed on our website.
In conclusion, the vision to return to active exploration and profitable, sustainable mining remains. The company is well positioned to recognise the opportunities inherent in recent challenges, and to maintain progress in a new year.
I believe a majority of the Bougainville people, who will soon participate in a referendum on Independence, clearly see the importance of economic self-sufficiency that could potentially be provided by mineral resource exploration and development
by ramunickel
agm-2016-bcl-board
Bougainville Freedom Movement
It seems Bougainville Copper Ltd (BCL) assume the "majority" of Bougainville people want the mining company to return to Bougainville [see report below].
Peter Taylor, the managing director of BCL, with support from mining giant Rio Tinto who pay his hefty salary, is trying to fool the shareholders, the media and the BCL board of directors.
But, Peter Taylor will not fool the people of Bougainville.
Here are some comments from the public:
What a sorry looking Board.
Sadly they are peddling the same lies about popular support in the mine area – even their own small cheer squad has grown dissatisfied in the extreme.
But of course all those smiling chappies on the Board, including its Chairman get a considerable financial injection from keeping the hope alive.
= = = = = = = = =
It is offensive for me, personally. That these vultures are getting paid to maintain the scourge of colonial oppression over our future and our land. These foreigners are not welcome in Bougainville.
= = = = = = = = =
Yes, a ‘clear’ majority.
No need for a referendum, or democracy for that matter, when you have such an insightful leader (of a resource extraction company).
AGM 2016 – Committed to the vision of sustainable mining
Bougainville Copper Limited
The Chairman and Managing Director of Bougainville Copper Limited, Mr Peter Taylor, has told the 2016 Annual General Meeting that the company remains committed to the vision of sustainable mining on Bougainville.
In his address to the AGM held at the Grand Papua Hotel in Port Moresby on Wednesday, 2 June 2016, Mr Taylor outlined the activities of the past year and was positive about the growing strength of the company’s relationships in the autonomous region.
“The company has had positive engagement with many of the local interest groups from the project area, including landowners,” Mr Taylor told the audience, which included shareholders.
“While there are some landowners opposed to reopening the mine for a range of reasons there appears to be a clear majority in favour of redevelopment.
“Throughout the year,” Mr Taylor continued, “the company management maintained its own fruitful dialogue with a wide range of Bougainvillean interest groups.
“There is a wide range of interests, and we are trying to listen to them all.”
Mr Taylor also stated that BCL is still committed to the potential resumption of mining.
“The vision to return to active exploration and profitable, sustainable mining remains,” Mr Taylor said.
“The company is well positioned to recognise the opportunities inherent in recent challenges, and to maintain progress in a new year.
“I believe a majority of the Bougainville people, who will soon participate in a referendum on Independence, clearly see the importance of economic self-sufficiency that could potentially be provided by mineral resource exploration and development.”
The AGM also saw the re-election of Dame Carol Kidu to the BCL board of directors. Dame Carol joined the board in April 2013.
Also present at the AGM were the other members of the BCL board, Sir Rabbie Namaliu, Robert Burns, Adam J. Burley and the BCL Company Secretary, Mark Hitchcock.
ramunickel | June 6, 2016 at 10:56 am
The National aka The Loggers Times | June 9th, 2016
THE lifting of the mining moratorium by the Autonomous Bougainville Government (ABG) House of Representatives on Tuesday was welcomed by the people of Bougainville, former rebel commander, Sam Kauona says.
Kauona told The National that with the next step of reopening the Panguna mine, lifting the moratorium would give an opportunity to other resource owners apart from Panguna to partake in mining activities.
Negotiations between ABG, the national government, Panguna landowners and the Bougainville Copper Limited are yet to begin.
He said the decision gave resource owners every right to operate as long as their activities were within the new Bougainville Mining Act.
Kauona said by law Panguna was under BCL’s moratorium and for them (BCL) to come back to operate it depended on how well they would negotiate with the other parties concerned.
“What the other resources owners are happy about is their areas which are not under BCL’s moratorium.”
He said resource owners would now have the right to negotiate with potential investors in accordance with the Bougainville Mining Act.
“For alluvial mining to take place the investors have to meet terms and conditions of the resource owners.”
He said resource owners had the right to say yes or no if any deal was not honoured.
zur Panguna Eröffnung und Verhandlungen mit BCL positiv äußert stört mich.
Lifting of the mining moratorium on Bougainville has hoodwinked the majority of people on Bougainville.
In March 2016, the Autonomous Bougainville Government (ABG), knew that the decision on the future of the mining moratorium on Bougainville was a major concern and "that there should be wide public debate on the issues involved". This was reiterated again as stated by Patrick Nisira, Vice President of the ABG in his public leture on 28 April 2016 in Canberra.
Yet in his next breath, Patrick Nisira advises, "but we don't have the funds necessary for an extensive public awareness and consultation program".
Instead, the decision to lift the mining moratorium was done without the majority of people on Bougainville even knowing, therefore, appears they were deliberately left out of the decision. They have been intentionally ignored on purpose to allow BCL (Bougainville Copper Ltd) and Rio Tinto to return to Bougainville.
So, if BCL returns to operate the Panguna mine, like it did in the past, will BCL and Rio Tinto be providing payment and compensation for the deaths and destruction it caused under the unfair Bougainville Copper Agreement?
The National, Thursday June 9th, 2016.
ONLY time will tell when the Panguna Mine will be reopened after the Autonomous Bougainville Government House of Representatives lifted the mining moratorium in Parliament session on Tuesday.
Member for Hagogohe Constituency, Robert Hamal Sawa told The National that the decision was done in consultation with the people who agreed that the moratorium be lifted.
Sawa said the next task was for the Bougainville Executive Council, Bougainville Copper Limited, Government and the Panguna landowners to negotiate on how well the mine would operate in accordance with the new Bougainville Mining Act.
He said as the lifting was constitutionally amended, one condition of the lifting was for the Panguna Mine to be reopened.
“We decided that for the moratorium to be lifted and for Panguna Mine to operate again, only BCL will be allowed back because they know the operation back then,” he said.
Sawa said they did not want to engage another company apart from BCL which did not understand the situation in Panguna. For areas that have minerals, it was up to the resource owners to organise and decide which mining activity either in alluvial or exploration should take Place
... exploration and development in Bougainville.............
Mr. Speaker, in summary, I recommend:
- Partial lifting of the Moratorium, in relation to grant of reconnaissance licences, artisanal licences, and quarry leases, for the whole of Bougainville;
- Partial lifting also in relation to grant of exploration licences, mining leases, leases for mining purposes and mining easements, initially restricted to two or three specific areas of Bougainville;
- Amending the Bougainville Mining Act:
- to clarify that partial lifting of the Moratorium by reference to categories of tenement is permitted;
- to restrict the number of small-scale mining leases that can be in operation at any one time.
This suggested approach to lifting the Moratorium and making minor amendments to the Act would allow most Bougainville mining interests access to minerals through artisanal licences. It would see continued protection against establishing many open cut and underground mines. That was the original aim of the Moratorium. It continues to be an important aim............
National,Thursday June 9th, 2016. By FRANCIS PULU ONLY time will tell when the Panguna Mine will be reopened after the Autonomous Bougainville Government House of Representatives lifted the mining moratorium in Parliament session on Tuesday. Member for Hagogohe Constituency, Robert Hamal Sawa told The National that the decision was done in consultation with the people who agreed that the moratorium be lifted. Sawa said the next task was for the Bougainville Executive Council, Bougainville Copper Limited, Government and the Panguna landowners to negotiate on how well the mine would operate i for the moratorium to be lifted and for Panguna Mine to operate again, only BCL will be allowed back because they know the operation back then,” he said.
Sawa said they did not want to engage another company apart from BCL which did not understand the situation in Panguna. For areas that have minerals, it was up to the resource owners to organise and decide which mining activity either in alluvial or exploration should take place
http://www.morumbi.ca/stocks.php
MOC
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Die Meldung "Reopening the Panguna mine with BOC" sollte diese %% doch locker toppen ;-)))
Alle Parteien vor Ort eiern doch nun schon unzählige Jahre vor Ort rum und der Kurs ist am Boden. Sonntagsreden, Versprechungen usw hat man nun über Jahre genug geschwungen und gemacht. Nur wenn FAKTISCH etwas passiert, bewegt sich der Kurs nach oben. Alles andere ist doch, das zeigt leider die Erfahrung, nur bullshit.