BOUGAINVILLE (852652)

Papua New Guinea hopes to reopen Bougainville copper mine by 2012
Two decades after secessionist violence closed it, the country hopes to reopen the mine and to play a bigger role in global copper market, its prime minister said.

Author: Jim Regan (Reuters)
Posted:  Monday , 06 Dec 2010
SYDNEY (Reuters) -  

Papua New Guinea hopes to reopen its huge Bougainville copper mine by 2012, two decades after secessionist violence forced it to close, and to play a bigger role in world copper markets, the nation's prime minister said on Monday.

"We could see the reopening of Bougainville at a cost of about $4 billion," Prime Minister Michael Somare told a Papua New Guinea investment conference in Sydney.

Papua New Guinea regularly talks up the prospect of the Bougainville mine reopening, but industry analysts now take this possibility more seriously, given rising investor confidence in the country and surging demand for the metal from Asia.

Bougainville's secessionist movement has also faded away.

"PNG is in the throes of becoming a major world supplier of copper," Somare told the conference, which serves as a regular investment roadshow for the country with Australian financiers.

In 1990, miner RTZ (now Rio Tinto ) closed the mine, one of the world's richest copper deposits, after angry villagers attacked workers and sabotaged mine operations.

World copper demand, especially from China, now represents an unprecedented opportunity for Bougainville, said Greg Anderson, head of Papua New Guinea's Chamber of Mines and Petroleum.

"There is a real appetite to get Bougainville up and running again as soon as possible," he told Reuters.

Copper on the London Metal Exchange fetches about $8,700 a tonne and gold $1,400 an ounce compared with $3,000 for copper and $450 for gold when the mine was abandoned.

The dormant, open-cut mine is owned by Bougainville Copper Ltd , which has retained its Australian stock-market listing. It in turn is owned 53.58 percent by Rio Tinto.

The stock firmed 0.6 percent to A$1.71 in afternoon trade, in a flat overall market.

The Bougainville rebellion was the longest-running conflict in the South Pacific, lasting 12 years from 1989 and leaving a death toll ranging from an official few hundred to a rebel tally of an estimated 15,000.

The rebellion fizzled out after a peace treaty was signed in 2001. Several of the key secessionist leaders have also died.

Rio Tinto has said that waste-disposal arrangements and funding would need to be addressed before restarting operations.

The mine has potential to annually produce 200,000 tonnes of copper and 400,000 ounces of gold, making it larger than BHP Billiton's Olympic Dam mine in Australia, the world's fourth-largest known copper deposit.

Sources familiar with the project said Rio Tinto had applied to the Papua New Guinea government for a fresh 21-year lease over the mine, known as Panguna.

But a Rio Tinto spokeswoman said Bougainville Copper did not have a timetable for reactivating the mine.

"There is a formal peace process underway and we are participating in that," she said.

Under the peace treaty, with granted autonomy to Bougainville island, the local government was expected to hold an independence referendum within 15 years, but there have been no more moves towards such a vote in recent years.

Papua New Guinea is rich in resources but has often struggled to exploit them due to endemic corruption, land ownership issues and poor infrastructure.

But investor confidence has been growing, culminating in oil giant ExxonMobil's recent decision to develop a $15 billion liquefied natural gas project in the country.

London-listed miner Xstrata Plc is also set to conclude a study in 2012 over development of its Frieda copper mine. The mine could yield 260,000 tonnes of copper and 390,000 ounces of gold a year in its first seven years.

(Additional reporting by Bruce Hextall; Editing by Mark Bendeich)

© Thomson Reuters 2010 All  

Die Type meint wohl, er kann allen anderen auf die Nerven gehen und sich auf ariva alles rausnehmen. Benimmt sich hier als wäre es sein Board.

ESBC Aufforderung an xetra

Heute habe ich folgende Aufforderung, Bougainville Copper Aktien zu permanenten Handel auf XETRA freizugeben, an die Deutsche Börse AG (Bereich Xetra) sowie an die BAADER BANK München verschickt. Ich bitte darum, dass sich möglichst viele Leser dieses Forums für dieses Anliegen einsetzen und eine entsprechende, unterstützende E-Mail an den xetrahelpdesk@deutsche-boerse.com schicken!

Hier der Text meines Schreibens:
Einrichtung eines permanenten Handels
von Bougainville Copper Aktien (ISIN: PG0008526520) auf XETRA


Sehr geehrter Herr Turba,

recht herzlichen Dank erst einmal für das ausführliche und aufschlußreiche Telefonat, das ich mit Ihnen führen durfte.

Wie schon am Telefon gesagt: es ist nicht Aufgabe der ESBC den Markt so zu gestalten, dass möglichst große Umsätze an der Börse Frankfurt getätigt werden. Wir können nur Sie und den Marketmaker, in diesem Falle die Baader Bank AG, München, darauf aufmerksam machen, dass es im europäischen Raum, möglicherweise sogar weltweit, ein großes Interesse gibt, dass die Bougainville Copper Aktie einfacher zu handeln ist. Dies bezieht sich speziell auch auf die Online Broker.

Die derzeitige Situation bei XETRA mit jweils einem Preisfixing pro Tag ist absolut investorenfeindlich, da zudem ausländischen Investoren kaum bekannt ist, dass Bougainville Copper auch auf dem Parkett gehandelt wird. Selbst wenn aber dieses bekannt sein sollte, bieten viele Tradingplattformen diesen Service gar nicht erst als Option an. Daraus resultiert, dass die Umsätze, die bei Xetra gemacht werden quasi gegen Null tendieren. Ich kann mir nicht vorstellen, dass dies im Sinne der Deutschen Börse war, als sie die elektronische Handelsplattform XETRA ins Leben gerufen hat. Ich denke mir, dass die Deutsche Börse alles daran setzen sollte, die Umsätze in Bougainville Copper auf XETRA nachhaltig zu steigern. Das ist nur möglich, wenn die Aktie auf XETRA permanent gehandelt werden kann. Angesichts der Tatsache, dass der weitaus überwiegende Teil der im Freefloat verfügbaren Bougainville Copper Aktien in europäischen Händen liegt, ist es geradzu ein Muss für XETRA speziell auch im Hinblick auf außerdeutsche, europäische Investoren ihre Dienstleistung zu verbessern, indem ein permanenter Handel auf XETRA möglich wird. Wie Sie oder Sie zusammen mit der Baader Bank das organisieren, ist einzig Ihre Sache. Schlussendlich sind es auch Sie beide, die von den höheren Umsatzvolumina auf XETRA profitieren.

Dass die Umsätze in Bougainville Copper massiv ansteigen werden, resultiert hauptsächlich aus zwei Gründen:

Erstens verlagert sich der Investorenfokus zunehmend auf die Originalaktie Bougainville Copper, nachdem die Bougainville Copper ADRs vom Markt verschwunden sind.

Zweitens wird die sich abzeichnende Wiedereröffnung der Bougainville Copper gehörenden Pangunamine sowohl die Preise, als auch die Umsätze befeuern.

Vor der bürgerkriegsbedingten Schliessung im Jahr 1989 war die Mine eine der drei größten Kupfer-, Gold- und Silberminen der Welt. Weitere Detailinformationen entnehmen Sie bitte der ESBC Homepage www.bougainville-copper.eu .

Ein Vergleich der Umsätze in Bougainville Copper in Deutschland mit den Zahlen der ASX in Sydney belegt, dass in Deutschland höhere Umsätze in dieser Aktie gemacht werden, als in Australien.

Wenn sich also die Deutsche Börse bereit finden würde, den elektronischen Handel in Bougainville Copper durchgehend zu ermöglichen, erwarte ich, dass Frankfurt kurzfristig die Börse Sydney als Leitbörse in Sachen Bougainville Copper spielend ablösen wird. Es ist sogar sehr wahrscheinlich, dass sich neben den europäischen Investoren dann auch Investoren in Australien und Asien in Frankfurt eindecken werden. Diese Chance würde ich mir an Ihrer Stelle nicht entgehen lassen.

Abschliessend möchte ich Ihnen sagen, dass wir die Besucher unserer Homepage auffordern werden, ihr Interesse an einer Verbesserung des XETRA Handels in Bougainville Copper per E-mail zu bekunden. Dazu werde ich den Investoren empfehlen an Ihre Adresse xetrahelpdesk@deutsche-boerse.com zu schreiben. Sie und Ihre Kollegen, sehr geehrter Herr Turba, bitte ich, die Mails dann an die geeigneten Stellen in Ihrem Hause und bei der Baader Bank AG weiterzuleiten.

Ich bin zuversichtlich, dass mit etwas gutem Willen aller Seiten, die derzeit unbefriedigende Situation in Kürze zu allseitiger Zufriedenheit verbessert werden kann.  

Post- Courier / Islands Post
Tuesday 05th October, 2010

Momis 100-day report wanted

Bougainvilleans have openly asked for the Autonomous Bougainville Government President John Momis and his cabinet to spell out what they had done in their last 100 days.
The concerned Bougainvilleans, in a letter to the editor, demanded the ABG present its report on the last 100 days in office as they claim during the inauguration of the second ABG House at Kubu, which Prime Minister Sir Michael Somare and all other foreign dignitaries were present, witnessed and heard the president make a rundown of his list of things to do in his 100 days in office.
Mr Momis, in June this year, detailed his priority tasks for the next 100 days and promised to appoint a permanent chief administrator within these days to fully implement these tasks.
A chief administrator was appointed, but controversy surrounded the process in which he was appointed. BEC approved these priority tasks in June and announced a revised Budget was now being done to accommodate the tasks within the 100 days.
The tasks included awareness on weapons disposal, awareness on the peace agreement, awareness on the Bougainville Constitution, awareness on ABG’s policies and consultation meetings with faction leaders and community leaders.
On the economic aspect the Momis Government planned to establish an economic recovery plan for Bougainville.
The plan was to include among others, the continuous Panguna mine consultations with the relevant stakeholders with the view of re-opening the mine, consultations with landowners on the Manetai lime stone and a Bougainville Fishing venture.
President’s office advised they would respond later this week to the concerns raised by the concerned Bougainvilleans.  

PS Jetzt pfeffert nekro sein letztes geld rein um den Kurs schön zu kaufen... ;-)))))))))))))))))))

 

Ja, ist klar, die Auslandbörse wird Leitbörse. So wie bei anderen Dummpushzocks auch. ;-)))))))))))))

Papua New Guinea hopes to reopen Bougainville copper mine by 2012
Two decades after secessionist violence closed it, the country hopes to reopen the mine and to play a bigger role in global copper market, its prime minister said.

Author: Jim Regan (Reuters)
Posted:  Monday , 06 Dec 2010
SYDNEY (Reuters) -  

Papua New Guinea hopes to reopen its huge Bougainville copper mine by 2012, two decades after secessionist violence forced it to close, and to play a bigger role in world copper markets, the nation's prime minister said on Monday.

"We could see the reopening of Bougainville at a cost of about $4 billion," Prime Minister Michael Somare told a Papua New Guinea investment conference in Sydney.

Papua New Guinea regularly talks up the prospect of the Bougainville mine reopening, but industry analysts now take this possibility more seriously, given rising investor confidence in the country and surging demand for the metal from Asia.

Bougainville's secessionist movement has also faded away.

"PNG is in the throes of becoming a major world supplier of copper," Somare told the conference, which serves as a regular investment roadshow for the country with Australian financiers.

In 1990, miner RTZ (now Rio Tinto ) closed the mine, one of the world's richest copper deposits, after angry villagers attacked workers and sabotaged mine operations.

World copper demand, especially from China, now represents an unprecedented opportunity for Bougainville, said Greg Anderson, head of Papua New Guinea's Chamber of Mines and Petroleum.

"There is a real appetite to get Bougainville up and running again as soon as possible," he told Reuters.

Copper on the London Metal Exchange fetches about $8,700 a tonne and gold $1,400 an ounce compared with $3,000 for copper and $450 for gold when the mine was abandoned.

The dormant, open-cut mine is owned by Bougainville Copper Ltd , which has retained its Australian stock-market listing. It in turn is owned 53.58 percent by Rio Tinto.

The stock firmed 0.6 percent to A$1.71 in afternoon trade, in a flat overall market.

The Bougainville rebellion was the longest-running conflict in the South Pacific, lasting 12 years from 1989 and leaving a death toll ranging from an official few hundred to a rebel tally of an estimated 15,000.

The rebellion fizzled out after a peace treaty was signed in 2001. Several of the key secessionist leaders have also died.

Rio Tinto has said that waste-disposal arrangements and funding would need to be addressed before restarting operations.

The mine has potential to annually produce 200,000 tonnes of copper and 400,000 ounces of gold, making it larger than BHP Billiton's Olympic Dam mine in Australia, the world's fourth-largest known copper deposit.

Sources familiar with the project said Rio Tinto had applied to the Papua New Guinea government for a fresh 21-year lease over the mine, known as Panguna.

But a Rio Tinto spokeswoman said Bougainville Copper did not have a timetable for reactivating the mine.

"There is a formal peace process underway and we are participating in that," she said.

Under the peace treaty, with granted autonomy to Bougainville island, the local government was expected to hold an independence referendum within 15 years, but there have been no more moves towards such a vote in recent years.

Papua New Guinea is rich in resources but has often struggled to exploit them due to endemic corruption, land ownership issues and poor infrastructure.

But investor confidence has been growing, culminating in oil giant ExxonMobil's recent decision to develop a $15 billion liquefied natural gas project in the country.

London-listed miner Xstrata Plc is also set to conclude a study in 2012 over development of its Frieda copper mine. The mine could yield 260,000 tonnes of copper and 390,000 ounces of gold a year in its first seven years.

(Additional reporting by Bruce Hextall; Editing by Mark Bendeich)

© Thomson Reuters 2010 All  

die schon vor Monaten im Paralell-Thread gepostet u. diskutiert wurden hier mal etwas ganz aktuelles von heute ;-)))

http://www.bougainville-copper.eu/newsroom-2010.html

17.12.2010

Source: ESBC Research



Are the Sydney BCL Share Price Manipulators Based in New York?

by Axel G. Sturm



Today I have been informed by my broker that all my Bougainville Copper shares that I have aquired in Sydney are safekept by the Bank of New York Mellon. That is a really scary situation as this bank had already been involved in the un-lawful sale of unsecured Bougainville Copper ADRs in the past.

Today the Bank of New York again, may be also involved in lendering of BCL shares to shortsellers without the aknowledge of the true shareholders. The ESBC recommend to all BCL shareholders concerned to change the safekeeping of their BCL securites to Clearstream in Luxembourg. Clearstream is a subsidiary of Deutsche Boerse AG and its only activity is the safekeeping of international securities. I change the safekeeper of my BCL shares to Luxembourg.





Sitzen die Drahtzieher der BCL Kursmanipulationen in Sydney in New York?

von Axel G. Sturm



Soeben habe ich mit meiner Bank gesprochen. Sie teilte mir mit, dass alle meine in Sydney erworbenen BCL Aktien als Lagerstelle die Bank of New York / Mellon haben.

Ihr könnt Euch mein Entsetzen vorstellen. Immerhin ist die Bank of New York / Mellon einer der Hauptakteure in der kriminellen Herausgabe von unbesicherten BCL ADRs gewesen. Deshalb liegt sehr nahe, dass die Bank auch heute nach wie vor ohne Wissen ihrer Lagerstellenkunden, deren Aktien zum Verleih an Shortseller nutzt. Der Kreis unseriöser Manipulationen schließt sich also…und schon wieder in New York!

Bitte, erkundigt Euch, wo Eure Aktien gelagert werden. Sollten Eure Aktien in New York liegen, versucht sie zu Clearstream Luxemburg zu verlagern, da diese Lagerstelle als Tochter der Deutschen Börse AG keine anderen Geschäftsinteressen als die Lagerung von Aktien verfolgt. Schon gar nicht den Verleih von Aktien. Ich habe entsprechende Schritte unternommen.

 

A year of progress for Bougainville
Copper 2010 is proving to be another
year of positive development leading to
the re-commencement of operations at the
Panguna mine, owned and previously
operated by Bougainville Copper Limited.
With copper reserves estimated at almost
3 million tonnes and gold production in
the range of 400,000 ounces per annum,
Panguna is one of the world‘s largest
potential producers of both metals.
Unexplored neighbouring tenements are
also very prospective, and will be
explored when a moratorium on
exploration is lifted. Present market
values for both copper and gold are
significantly higher than at the time of
mine closure in 1990. The political
situation within the Autonomous
Bougainville Region has stabilised, and
there is considerable appetite for
development being expressed by the
people. BCL is seen by many as the
preferred operator of a re-started mine,
and holds a very large bank of mine
data. The Board is operating a
comprehensive rolling plan with the
vision of returning to active
exploration and profitable mining.
Recent events In July, BCL offered its
congratulations to the newly elected
President of the Autonomous Bougainville
Region, John Momis, and assured him of
the company‘s willingness to contribute
in appropriate ways to economic
development in the region, to the
benefit of the people of Bougainville
and the company‘s shareholders.
President Momis has indicated his
preparedness to see the Panguna mine
re-opened, with BCL as operator,
provided the assent and involvement of
local landowners is achieved. The
President has further said that it was

his belief that landowners at Panguna
and elsewhere were generally committed
to the re-start process. It is expected
that the Bougainville Copper Agreement
re-negotiation will be actively pursued
towards the end of 2010, with all sides
committed to making significant
progress. At the August meeting of the
Joint Supervisory Body, principal agency
implementing the Bougainville Peace
Process, re-negotiation of the BCA was
placed on the formal agenda, for
immediate progress. If the main
stakeholders are to gain mutual economic
benefit from Bougainville's mineral
potential a framework such as a
re-negotiated BCA needs to be in place.
Variations in copper and gold prices
indicate that opportunities need to be
taken up without undue delay. Positive
factors Work continued evaluating the
comprehensive Order of Magnitude study
commissioned by BCL in 2008. The OOM
Study makes assumptions about the size
of a re-started mining operation, based
on a re-processing of the data base, and
taking into account the existing assets
including the port at Loloho and the
port-mine access road. An important
component in achieving the vision will
be an environmental plan that is not
only based on best practice but also
meets the expectations of the local
community. Work will continue to
identify the key issues and solutions.
Secure access to the mine site and
surrounding areas of previous operations
will be welcomed, to assist the
environmental assessment and future
planning. The company has made known to
both the Autonomous Bougainville
Government and the National Government
of Papua New Guinea its willingness to
conduct safety and environmental audits
on the island as soon as access can be
facilitated. Other issues Other issues
in focus include the resolution of a
taxation issue, and a mine asset stock
take. Existing mine assets have not
until now been accessible to the
company, and to understand the present
value of these assets and the extent to
which they may be used for future mining
and exploration, access to the mine site
is needed. For this BCL welcomes the
support expressed by local landowners
and will continue to work alongside
them, and give practical assistance to
the processes of reconciliation and
social stability. BCL welcomes the
growing consensus of landowner support
for resumed exploration and mining,
expressed in regular dialogue with
landowner leaders. During the year more
work has been undertaken in preparation
for the possible lifting of the
moratorium on new exploration and
mining. It is intended to identify
targets within the company licences and
how best to manage an exploration
program. That may involve entering into
an exploration agreement with others.
Work will also continue to ensure that
the extensive mine database is able to
be utilised quickly and effectively if a
return to mining at Panguna is agreed.
BCL works closely with the PNG Mineral
Resources Authority (MRA), which acts as
a statutory authority managing and
regulating the industry. The company
expects that the Authority will play an
active and guiding role in facilitating
the Bougainville Copper Agreement
re-negotiation, and a number of studies
will be undertaken in preparation for
negotiations. The company is also in
regular touch with the National
Government of Papua New Guinea at a high
level. The second half of 2010 The
company remains focussed on preparing
for a formal engagement with landowners
and the National and Bougainville
Government over the future of the mine
and settling all outstanding issues
between the parties. The Autonomous
Bougainville Government and the body
representing the PNG National Government
on Bougainville Affairs have indicated
their willingness to participate in such
talks. All parties have agreed that it
is necessary to maintain a landowner
group that can represent all landowner
interests during negotiations. The
Bougainville Government is taking the
lead and the company has offered its
assistance where appropriate.
Bougainville Copper Limited (BCL) is
owned 53.58% by Rio Tinto Limited. The
Papua New Guinea Government owns 19.06%
while public shareholders hold the
remaining 27.36% of the share capital.
<<< Posting gekürzt anzeigen  

Post-Courier Wednesday 15th September, 2010

BOUGAINVILLE’S K10 million Torokina Oil Palm project is being debated among politicians and bureaucrats.
ABG’s Agriculture chief executive officer Sam Rangai was officially suspended last week after allegations of misuse of K2 million from the project. The ABG administration confirmed his suspension and an acting chief executive officer has appointed while investigations are being carried out.
They said his suspension was over allegations of misuse of K2 million but they could not elaborate.
This project was started by Bougainville Affairs Minister Fidelis Semoso five years ago.
The administration and DPI office could not detail the problems surrounding it. Last Friday Torokina villagers presented a petition to ABG President John Momis regarding the project.
They were led by young men and the council of elders. They wanted an explanation from President Momis as to why he engaged a foreign company to work on the project when there were local experts already on the ground.  

 

Uranium prices are bracing for liftoff…


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Maybe permanently… as the company CEO said it could take months before they even figure out the cause of the flooding.

The hysteria has already pushed spot prices forward, and Goldman Sachs predicts prices will vault a healthy 50% by the end of the year.

This free report reveals the facts about this upcoming bull run and details three ways investors can profit before uranium prices really take off.

Access to the remainder of our investor report is reserved for Money Morning subscribers. To join our FREE investor community, simply sign up below...You will also begin to receive our reports on the global equity boom, free of charge.In addition to this free investment report, we'll send you a free report about the hottest investments in Asia to your e-mail address.  

Nekro, hast du deinen Lemmingen kein Benehmen beigebracht?

Aus Post- Courier
Business
Friday 17th December, 2010

PNG-China trade boosted to K2.7b

By Harlyne Joku
Trade between PNG and China has increased significantly and has reached over US$900 million (about K2.7 billion kina) according to the Ambassador of the Republic of China to PNG His Excellency Qiu Bohua.
Mr Bohua said yesterday in Port Moresby that apart from aid projects the two countries’ mutual cooperation is reflected in the area of trade and investment.
“The trade between our two countries is increasing and reached nearly US$900 million in 2009. As for investment, China’s MCC’s US$1.4 billion investment project of Ramu Nico Mine in Madang is a win-win cooperation project between the two countries. The project will certainly make remarkable contributions to the economic development of PNG,” he said. Ambassador Bohua added that during the past years, the Chinese government has done its best to support and assist PNG in achieving its economic development goals in the government’s priority areas of infrastructure, education, health and agriculture. He stressed that as a developing country China not only cares about its own economy and social development but also that of PNG and other developing countries.

“Although we are far away from each other geographically, we are close to each other as brothers and sisters,” Mr Bohua said.
“I am happy to note that all these aid projects in one way or another have played an important role in the social development of PNG which are beneficial to the wellbeing of the people of PNG,” he said.
He made the remarks yesterday at the signing ceremony of the agreement on Economic and Technical Cooperation where China gave funding of K15 million. PNG’s Secretary for Foreign Affairs and Trade Ambassador Michael Maue thanked and acknowledged the assistance and stated that the government of PNG will identify projects for implementation according to its priorities under the PNG Development Strategic Plan 2011-2030 and the Vision 2050. Mr Maue said he is pleased with the Exchange of Agreement and that apart from this Grant-In-Aid assistance, the government of China has also provided similar grant assistance in the past years. Some of these projects funded by the Chinese government include the Port Moresby Sir John Guise Sports Complex, Markham National High School, Kandep Wheat project, the Eastern Highlands Mushroom project, Wewak Sport Stadium, provision of medical doctors to the department of health to be placed in the Port Moresby General Hospital’s Cancer Ward and the Papa Lealea Road among others. Current projects underway are the Pacific Marine Industrial Zone Project in Madang and the International Convention Centre.  

............warum sollte ich?

Du zeigst ja auch keins ;-))))))))))))))))))))))))))))))))

 

Das sagt genau der Richtige.

billiger rein in DEN Schrott ... träum weiter, du wolltest wohl sagen diese Schrottaktie braucht kein Mensch  LOL

Aus Post- Courier
Business
Friday 17th December, 2010

PNG-China trade boosted to K2.7b

By Harlyne Joku
Trade between PNG and China has increased significantly and has reached over US$900 million (about K2.7 billion kina) according to the Ambassador of the Republic of China to PNG His Excellency Qiu Bohua.
Mr Bohua said yesterday in Port Moresby that apart from aid projects the two countries’ mutual cooperation is reflected in the area of trade and investment.
“The trade between our two countries is increasing and reached nearly US$900 million in 2009. As for investment, China’s MCC’s US$1.4 billion investment project of Ramu Nico Mine in Madang is a win-win cooperation project between the two countries. The project will certainly make remarkable contributions to the economic development of PNG,” he said. Ambassador Bohua added that during the past years, the Chinese government has done its best to support and assist PNG in achieving its economic development goals in the government’s priority areas of infrastructure, education, health and agriculture. He stressed that as a developing country China not only cares about its own economy and social development but also that of PNG and other developing countries.

“Although we are far away from each other geographically, we are close to each other as brothers and sisters,” Mr Bohua said.
“I am happy to note that all these aid projects in one way or another have played an important role in the social development of PNG which are beneficial to the wellbeing of the people of PNG,” he said.
He made the remarks yesterday at the signing ceremony of the agreement on Economic and Technical Cooperation where China gave funding of K15 million. PNG’s Secretary for Foreign Affairs and Trade Ambassador Michael Maue thanked and acknowledged the assistance and stated that the government of PNG will identify projects for implementation according to its priorities under the PNG Development Strategic Plan 2011-2030 and the Vision 2050. Mr Maue said he is pleased with the Exchange of Agreement and that apart from this Grant-In-Aid assistance, the government of China has also provided similar grant assistance in the past years. Some of these projects funded by the Chinese government include the Port Moresby Sir John Guise Sports Complex, Markham National High School, Kandep Wheat project, the Eastern Highlands Mushroom project, Wewak Sport Stadium, provision of medical doctors to the department of health to be placed in the Port Moresby General Hospital’s Cancer Ward and the Papa Lealea Road among others. Current projects underway are the Pacific Marine Industrial Zone Project in Madang and the International Convention Centre.  

 

Post-Courier Wednesday 15th September, 2010

BOUGAINVILLE’S K10 million Torokina Oil Palm project is being debated among politicians and bureaucrats.
ABG’s Agriculture chief executive officer Sam Rangai was officially suspended last week after allegations of misuse of K2 million from the project. The ABG administration confirmed his suspension and an acting chief executive officer has appointed while investigations are being carried out.
They said his suspension was over allegations of misuse of K2 million but they could not elaborate.
This project was started by Bougainville Affairs Minister Fidelis Semoso five years ago.
The administration and DPI office could not detail the problems surrounding it. Last Friday Torokina villagers presented a petition to ABG President John Momis regarding the project.
They were led by young men and the council of elders. They wanted an explanation from President Momis as to why he engaged a foreign company to work on the project when there were local experts already on the ground. melden
Jetzt am Börsenspiel teilnehmen!  

year of progress for Bougainville
Copper 2010 is proving to be another
year of positive development leading to
the re-commencement of operations at the
Panguna mine, owned and previously
operated by Bougainville Copper Limited.
With copper reserves estimated at almost
3 million tonnes and gold production in
the range of 400,000 ounces per annum,
Panguna is one of the world&#145;s largest
potential producers of both metals.
Unexplored neighbouring tenements are
also very prospective, and will be
explored when a moratorium on
exploration is lifted. Present market
values for both copper and gold are
significantly higher than at the time of
mine closure in 1990. The political
situation within the Autonomous
Bougainville Region has stabilised, and
there is considerable appetite for
development being expressed by the
people. BCL is seen by many as the
preferred operator of a re-started mine,
and holds a very large bank of mine
data. The Board is operating a
comprehensive rolling plan with the
vision of returning to active
exploration and profitable mining.
Recent events In July, BCL offered its
congratulations to the newly elected
President of the Autonomous Bougainville
Region, John Momis, and assured him of
the company&#145;s willingness to contribute
in appropriate ways to economic
development in the region, to the
benefit of the people of Bougainville
and the company&#145;s shareholders.
President Momis has indicated his
preparedness to see the Panguna mine
re-opened, with BCL as operator,
provided the assent and involvement of
local landowners is achieved. The
President has further said that it was


his belief that landowners at Panguna
and elsewhere were generally committed
to the re-start process. It is expected
that the Bougainville Copper Agreement
re-negotiation will be actively pursued
towards the end of 2010, with all sides
committed to making significant
progress. At the August meeting of the
Joint Supervisory Body, principal agency
implementing the Bougainville Peace
Process, re-negotiation of the BCA was
placed on the formal agenda, for
immediate progress. If the main
stakeholders are to gain mutual economic
benefit from Bougainville's mineral
potential a framework such as a
re-negotiated BCA needs to be in place.
Variations in copper and gold prices
indicate that opportunities need to be
taken up without undue delay. Positive
factors Work continued evaluating the
comprehensive Order of Magnitude study
commissioned by BCL in 2008. The OOM
Study makes assumptions about the size
of a re-started mining operation, based
on a re-processing of the data base, and
taking into account the existing assets
including the port at Loloho and the
port-mine access road. An important
component in achieving the vision will
be an environmental plan that is not
only based on best practice but also
meets the expectations of the local
community. Work will continue to
identify the key issues and solutions.
Secure access to the mine site and
surrounding areas of previous operations
will be welcomed, to assist the
environmental assessment and future
planning. The company has made known to
both the Autonomous Bougainville
Government and the National Government
of Papua New Guinea its willingness to
conduct safety and environmental audits
on the island as soon as access can be
facilitated. Other issues Other issues
in focus include the resolution of a
taxation issue, and a mine asset stock
take. Existing mine assets have not
until now been accessible to the
company, and to understand the present
value of these assets and the extent to
which they may be used for future mining
and exploration, access to the mine site
is needed. For this BCL welcomes the
support expressed by local landowners
and will continue to work alongside
them, and give practical assistance to
the processes of reconciliation and
social stability. BCL welcomes the
growing consensus of landowner support
for resumed exploration and mining,
expressed in regular dialogue with
landowner leaders. During the year more
work has been undertaken in preparation
for the possible lifting of the
moratorium on new exploration and
mining. It is intended to identify
targets within the company licences and
how best to manage an exploration
program. That may involve entering into
an exploration agreement with others.
Work will also continue to ensure that
the extensive mine database is able to
be utilised quickly and effectively if a
return to mining at Panguna is agreed.
BCL works closely with the PNG Mineral
Resources Authority (MRA), which acts as
a statutory authority managing and
regulating the industry. The company
expects that the Authority will play an
active and guiding role in facilitating
the Bougainville Copper Agreement
re-negotiation, and a number of studies
will be undertaken in preparation for
negotiations. The company is also in
regular touch with the National
Government of Papua New Guinea at a high
level. The second half of 2010 The
company remains focussed on preparing
for a formal engagement with landowners
and the National and Bougainville
Government over the future of the mine
and settling all outstanding issues
between the parties. The Autonomous
Bougainville Government and the body
representing the PNG National Government
on Bougainville Affairs have indicated
their willingness to participate in such
talks. All parties have agreed that it
is necessary to maintain a landowner
group that can represent all landowner
interests during negotiations. The
Bougainville Government is taking the
lead and the company has offered its
assistance where appropriate.
Bougainville Copper Limited (BCL) is
owned 53.58% by Rio Tinto Limited. The
Papua New Guinea Government owns 19.06%
while public shareholders hold the
remaining 27.36% of the share capital  

Man bist du doof!!!  

.....aber egal;-)))))))))))))