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PNG to give mine shares to Bougainville
by ramunickel

O'Neill_and_Momis

Peter O'Neill and John Momis

Radio New Zealand | August 17, 2016

The Papua New Guinea Government is to transfer mining shares gifted it by Rio Tinto, to the people of Bougainville.

The Prime Minister, Peter O'Neill, told parliament today his government is aware of the pain and torment the people of Bougainville have gone through, and the importance of land to them.

The shares in Bougainville Copper Ltd, which had run the long shut-down Panguna mine, will ensure the autonomous government has a majority shareholding in the company.

Bougainville President John Momis has been pressing for the shares for weeks and had threatened legal action against both Rio Tinto and the national government.

A critical concern for Mr Momis is that Rio Tinto is walking away without clearing the damaging legacy left by the mine such as ongoing environmental and social issues.

Last week, Mr Momis signalled the Bougainville administration could take legal action against Rio.

Mr O'Neill has now told parliament his government is serious about empowering communities and giving Bougainville's landowners and the people direct control over any future mine developments.

He added that this transfer of shares further strengthens the confidence of Bougainvilleans in the peace process.
ramunickel | August 17, 2016 at 6:37 pm | Tags: ABG, Bougainville, Environmental damage, Human rights, John Momis, Landholders, Panguna, Papua New Guinea, Peter O'Neill, Rio Tinto | Categories: Environmental impact, Financial returns, Human rights, Papua New Guinea | URL: http://wp.me/pMvf7-4Ua  

17 August 2016

O’Neill caves in on Bougainville: Momis to get Rio’s BCL stake

KEITH JACKSON

PETER O’Neill has avoided a full frontal clash with the Autonomous Bougainville Government by agreeing to give it a majority stake in the Panguna gold and copper mine.

In a move that was fundamentally stupid, mining giant Rio Tinto in June decided to split its 53.8% stake in Bougainville Copper Limited (BCL) to leave the PNG and Bougainville governments each with 36.4% of the equity.

It was a recipe for potential conflict and tragedy which only a global company with no sense of the society and culture within which it was operating could have formulated.

kpl. Artikel hier:

http://asopa.typepad.com/asopa_people/2016/08/...m_source=twitterfeed

 

PNG Government to give BLC shares to people of Bougainville

After years of torment and pain Bougainvillean’s can now have a direct say in the Bougainville copper mine after the PM announced today that 17.4 percent or 69 Million Bougainville Copper Limited (BCL) shares will be transferred to the landowners and people of Bougainville.

kpl Artikel hier:

http://www.pngfacts.com/news/...-blc-shares-to-people-of-bougainville
 

ew post on Papua New Guinea Mine Watch
                    
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Govt offloads shares in Ok Tedi and Panguna

by ramunickel

rio ok tedi o-neill

Gorethy Kenneth | Post Courier | 18 August 2016

THE Government has offloaded its shares in Bougainville Copper and Ok Tedi gold and copper mines to the respective landowners and provincial governments.

It will also implement decisions by the previous government on landowner benefits associated with the liquefied natural gas in five provinces.

The milestone decisions were announced in Parliament yesterday by Prime Minister Peter O’Neill. In the decisions endorsed by the National Executive Council, the 17.4 per cent of the State shares given by developer Rio Tinto recently will be given to the Panguna landowners and people of Bougainville. The State will retain its initial 19.2 per cent shares.

The NEC agreed to transfer 33 per cent, one third of Ok Tedi Limited equity, to the people of Western Province who comprised landowners, affected villages and the provincial government.

Further, the State will implement the decisions that the previous Government has taken including the distribution of equity and the benefits that are due to the people of Hela, Southern Highlands, Gulf, Central and Western provinces on the PNG LNG Project.

"We are committed to giving direct participation in resource developments in our country so that our landowners can take ownership, and build capacity in order to sustain their own livelihoods and their communities," Mr O’Neill said in a ministerial statement.

"The people of Bougainville have been through too much pain over the past 30 years, and should not face further frustration and confusion because of politics," O’Neill said.

We are aware of the pain and torment that the people of Bougainville have gone through, and the importance of land.

"We are announcing to this House that the Government of Papua New Guinea will transfer this 17.4 per cent, to the landowners and the people of Bougainville.

"With this transfer, the people of Bougainville will own a combined shareholding of 53.8 per cent of BCL.

"This will ensure that for the first time in history of BCL, the landowners will be given a direct say and direct participation in the operation of the BCL mine.

"Under the UBSA agreement, the landowners and Provincial Government were to pay the State close to US$1.1 billion for 4.27 per cent equity in PNG LNG.

O’Neill in his statement to Parliament yesterday also said given the current market conditions, where the oil price has collapsed from US$110 per barrel down to US$27, it is quite impossible for the landowners and Provincial Government to raise that money.

"That is why NEC has approved that it will extend the time that expired on the 30th of June, to be extended to 31st December 2016, so they can have the opportunity to raise more funds over the next few months," he said.
ramunickel | August 18, 2016 at 12:53 pm | Tags: Bougainville, Landholders, Ok Tedi, Panguna, Papua New Guinea, Peter O'Neill, Rio Tinto | Categories: Financial returns, Papua New Guinea | URL: http://wp.me/pMvf7-4Um

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:-)

......"With this transfer, the people of Bougainville will own a combined shareholding of 53.8 per cent of BCL.

"This will ensure that for the first time in history of BCL, the landowners will be given a direct say and direct participation in the operation of the BCL mine...........  

.....@ sellongoodnew........

..... bei unter 10 ohne relevante news kaufe ich auch nach.......

das köönte von jetzt ab wenn da von PNG nicht wieder getrickst wird schwierig werden. Bestände aufbauen auf Grund dieser weisen Entscheidung wird so langsam eine reelle Option. ;-)))
 

.BOC
BOUGAINVILLE COPPER LIMITED
Metals & Mining
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   Summary
   Key statistics
   Details

0.175
18 Aug 2016
          §Daily 0.010 6.061% Daily volume 141,691
Bid 0.175 Offer 0.180 Dividends
Most recent -
Dividend ex-date -
Dividend pay date -
Franking -
Annual dividend yield

 

 

 

http://210.193.160.7/netwealth2/depth/boc

Trades  http://stocknessmonster.com/

Nach jedem Kauf (a 18 ct) wurde eine Mini-vk-order (17.5 / 17 ct) aufgegeben ;-))

Trade No.    Time       Price Volume Value Conditions

         1         8§4:10:55 pm 17 240        $41
         2         7§3:58:25 pm 18 30,000 $5,400 Crossed
         3         6§3:42:22 pm 18 36,491 $6,568
         4         5§3:34:05 pm 17.5 1,691 $296
         5         4§2:56:26 pm 18 23,547 $4,238
         6         3§2:56:26 pm 18 75,000 $13,500
         7         2§2:56:26 pm 17.5 1,453 $254
         8         1§2:45:51 pm 18 40,000 $7,200  

...........details of Bougainville mine share transfer

Updated about 8 hours ago

The government of Papua New Guinea is to transfer to the people of Bougainville, its shares in the Panguna copper mine that were gifted by Rio Tinto.

The move is part of Prime Minister Peter O'Neill's expansive plans to solve some of the country's mining and liquid natural gas issues.

The national coordinator for the Resource Governance Coalition in PNG, Martyn Namorong, says that on face value, the move is a positive step but there are still questions to be answered.
Richard Ewart

http://www.abc.net.au/news/2016-08-18/...o-clarify-details-of/7761992

“Re-opening Panguna is generally recognised as the best way to achieve not only a clean-up of Panguna and the tailings, but also to fund economic development for the Panguna and tailings areas, and to provide the funding needed for Bougainville to have either real autonomy or independence,” Momis said.

Panguna is still thought to contain around $50 billion worth of copper and gold, while restarting the mine is expected to cost around $6.5 billion.

Bougainville President, John Momis has expressed fury at the Prime Minister’s announcement

That 17.4% BCL equity recently transferred to PNG by Rio Tinto will be given to landowners and Bougainville’s people. The PM said he deliberately decided that way so that the ‘ABG does not control the shares’.

The President said he was angry because it’s the ABG that speaks for the people of Bougainville, and cannot be excluded by the PM. Further, the transfer of 17.4% the landowners is worth little. The ABG Mining Law gives them full decision-making involvement and a good revenue share if mining resumes.

“The future of Panguna is Bougainville’s most sensitive issue. I have explained to the PM several times why it is vital the ABG holds the Rio shares in BCL. He has rejected my advice. He is interfering in Bougainville. He acts in the same high-handed manner as the colonial administration and BCL when the mine began. That caused the Bougainville crisis.

“The Bougainville Peace Agreement says autonomy aims for Bougainville to find solutions to its own problems. The ABG is the government for Bougainville for all matters where powers are transferred. All mining powers have been transferred. So all mining decisions are matters for the ABG.

“If we cannot resolve the issue, the Mining Minister will use the power under the ABG law to cancel BCL’s exploration licence under the Bougainville Mining Act over the area of the previous Panguna SML. Notice has already been given to BCL to show cause why the licence should not be cancelled.

“That licence is BCL’s only major asset. Cancellation would make all BCL shares almost worthless. That includes the 19.2% BCL equity PNG has held since 1972. If the ABG is to remain in control of Bougainville mining we have no choice.

“Bougainville’s MPs must now show leadership and end their shameful silence on this issue. They must advise the PM to transfer the shares to the ABG.

“ABG action to cancel the licence will not reduce Panguna-lease landowner involvement in decisions about Panguna, or sharing in revenue if the mine does re-open. That’s because the Bougainville Mining Act gives those landowners full power to say no to grant of a mining licence. So they will be fully involved in all decisions on mine re-opening.

“The Act also guarantees landowners 5% equity (free carry) in the mining operating company. That will be worth much more than the PM’s 17.4% because re-opening will cost K20 billion, dramatically diluting all existing equity. Our Act guarantees a valuable share in the fully funded mine. The PNG 17.4% gives a small minority shareholding in a company now worth very little.

“The PM is not telling the truth  

Ich habe schon immer darauf hingewiesen, dass das grösste Hinderniss fuer eine Wiedereröffnung die innerpolitischen Spannungen zw. Regierung und Landowner sind, die sich trotz ihrer erfolgreichen Revolution betrogen fuehlen und sich mit illegalem Goldabbau kompensieren.
PNG will diese Konflikte mit einem genialen Federstrich abkuerzen und ueberträgt den Landowner einen Teil der Aktien. Das zwingt Momis intensiver mit dem Landowner zusammenzuarbeiten. Seine negative Einstellung kann ich nur mit befuerchtetem Machtverlust erklären.
Aber unter den Strich gesehen, ist ersichtlich, dass an der Wiedereröffnung grosses Interesse
besteht.
Wäre man politisch schon vor 5 Jahre so weit, der Kurs wäre damals bei 3 Euro gestanden.
Warum wir jetzt bei Centbeträgen stehen, ist mir allerdings auch nicht erklärlich.

 

Momis:
All mining powers have been transferred. So all mining decisions are matters for the ABG.

Hab ich da was verpasst, die Mining Power wurde doch noch nicht von PNG ans ABG abgegeben, oder?
Mein aktueller Stand ist, es gilt weiter PNG Recht. Momis kann am 9 September BCL die Lizenz entziehen, würde somit aber gegen geltendes PNG Recht verstoßen und somit die Verhandlungen wieder in eine Sackgasse manövrieren, da kein neues Unternehmen 20 Mrd Kina in eine Mine investiert, bei der die Eigentumsrechte nicht zu 100% passen.
Und PNG würde sich bestimmt erkenntlich zeigen, wenn sie ihre restlichen 19,2% verlieren würde...

 

emtv.com.pg

http://www.emtv.com.pg/news/2016/08/...bg-will-not-control-53-shares/

Zitat :
........will be given to the Panguna landowners and people of Bougainville.......

.....der eigentlich  ``geniale`` Schachzug ist die shares an die landowners und an die Bevölkerung zu geben der Verteilschlüssel wurde ja nicht genannt aber es soll ein jeder direkt profitiern. :-))

Rein Zahlenmäßig hieße es das 69 000 000 Stk.  an ca. 200 000 Einwohner =  345 Stk. / Einwohner übergeben würden.

Für die meisten ein kleines Vermögen schon zum jetzigen Kurs. Da stimme ich mit dir überein das könnte bei statischer Bewertung als Machtverlust zugunsten PNG ausgelegt werden.

....Aber unter den Strich gesehen, ist ersichtlich, dass an der Wiedereröffnung grosses Interesse
besteht....

......und ehrlich daran haben die meisten hier am Board (ich schließe mich da nicht aus) zeitweise  erhebliche Zeifel haben müssen. ;-))

 

.....zum jetzigen Zeitpunkt ist es doch so das shares übertragen werden sollen.

Wo steht denn das ich wenn ich Aktien besitze diese nicht verschenken darf ?????
Gegen welches Recht wird dadurch verstoßen ???

... Es sei denn das diese Aktienübertragung an Bedingungen geknüpft wird. Dann kann  sich Herr M. aufregen und sein Veto einlegen.  

Die Kosten für die Wiedereröffnung der Mine 2 - 5 Milliarden $ sind eine geschätzte Summe. Die wahren Kosten könnten darunter am unteren Level dazwischen und für den einen oder  anderen weiteren Interessenten auch darüber liegen.

Hinterher ist jeder schlauer.  ;-))


 

ich halte das für reines Wahlkampf Geplänkel.
2017 ist Wahl in PNG.
Wir werden sehen ob er wirklich die Anteile überträgt. Bis heute hat er seine Versprechungen nicht eingehalten, z.B. 100 Mio pro Jahr für das ABG, OKI Tedi, PNGSDP usw.
Das Gute daran ist, dass die Dinge auf den Tisch kommen.  

Da wären die Warlords, bzw. Landowner, sehr böse, wüerden die Shares gleichmässig an der Bevölkerung verteilt werden. In der Regel sind diese Ärmsten det Armen Leibeigene der Landowner. Deshalb duerften die Shares an die Landowner verteilt werden. Die sorgen fuer Recht und Ordnung, Recht in Anführungszeichen, und die Bevölkerung bekommt natuerlich auch ein Almosen.

Wenn an der Wiedereröffnung keine Interesse bestehen wuerde, wuerde man sich ueber die Verteilung der Aktien nicht aufregen.  

........in Kürze ausführlich  erfahren was die Betroffenen von dieser Entwicklung halten und wie die entsprechenden  Medien , Mine Watch ect., sich dieses Themas annehmen. :-))
......und alles unter einem gewissen Zeitdruck.
 

Bougainville Copper served show-cause notice
Friday, 22 July 2016

BOUGAINVILLE Copper has received from the Autonomous Bougainville Government’s Mines Department to a notice to show cause why exploration licence 1/2014 should not be cancelled.

Graphic model of a re-opened Panguna pit courtesy of Bougainville Copper Limited.

Bougainville Copper said that the notice stated that the company was in breach of section 112(1) of the Mining Act and a condition of the exploration licence.

“The company is obtaining legal advice regarding the notice and will respond within the due date,” Bougainville Copper said.  

Graphic Modell Panguna reopend.

 

http://www.asx.com.au/asxpdf/20160819/pdf/439gbk5xv4rd1x.pdf  

https://ramumine.wordpress.com/2016/08/21/...ipled-shameful-and-evil/