Bougainville Copper Ltd. / BOC (ASX)

liegt dem Parlament vor und wird auch von PNG Präsident Somare unterstützt.

Kommt es zu der geplanten Verabschiedung so ist es eine komplette Win/Win Situation,sowohl für PNG,Bougainville,BCL,Landeigner als auch für uns als Aktionäre ;-))))))))))))

SUMMARY OF SALIENT POINTS FOR SUPPLEMENTAL BCA AGREEMENT October 4, 2008 Gold USD 833 per troy ounce, Copper USD 2.69 per pound; K1=USD 0.41; K1=AUD 0.52; AUD1= 0.78 USD. Interest rate 10%Three streams of ongoing sustainable cashflow from BCL and their proposed beneficiaries:

1. Taxes: Approx K 666 million per annum split 50:50 between ABG and National Govt about K 333 million per annum to each.
2. Dividends on 76.4 Million shares: Beneficiaries to be split 50:50 between 50% for all adult Bougainvilleans, and the remaining 50% for Landowners. Quarterly dividend payments to them to be managed jointly by the National Govt and ABG. The ownership of shares to be held in trust by the ABG and BCL. The dividend stream is K 198 million per annum or K 99 million to all adult Bougainvilleans and K 99 million to Landowners.
3. Royalties: 3.5% of revenue attributable to mining area to be mapped and paid out to individual title holders on a monthly basis. Annual royalties of K 125 million per annum or K 24,900 per annum; this is about K 2,077 per adult landowner per month. No dividend withholding tax will be applicable on dividends paid on BCL shares.

Non Recurring one-off payment: At the time of signing of the New BCA BCL will pay Landowners payable to them since 1990 of K1.4 million per annum plus interest plus expenses incurred.THE OPPORTUNITY PRESENTED BY BCL AS A GOING CONCERNI. Root Cause of the Problem
The root cause of the problem was the unfair distribution of income amongst the three main interest groups viz Landowners, North Solomon Provincial Government and the National Government. During its 17 years of life from 1972 to 1989, 58.4% of benefits received from the mine went to the National Government, and only 4.8% to the Provincial Government with merely 0.2% going to Landowners. The remaining 36.6% went to Non Government shareholders for their risk capital, technology and management; that was quite fair.
II. 1987 Production and PricesIn 1987 when there was no Additional Profits Tax, when average copper price was US 81 cents per pound and gold price was USD 446.7 per troy ounce, the Earnings per share were 24.83 USc (Earnings of USD 99.55 Million). Total concentrate produced was 585,500 Tonnes grading 30.4% Copper, and 25.1 grams per tonne of gold. This corresponds to 177,992 Tonnes of copper or 392 Million pounds worth USD 318 Million at US 81 c per pound plus 585,500 x 25.8/31.1 = 485,720 troy ounces worth USD 217 Million. Total sales of USD535 million per annum and net profit of about USD100 million per annum. III. Assumptions1) Current price of copper at USD 2.69 per pound and gold at USD 833 per troy ounce. 2) A capital investment of USD 1,500 Million which will be made wholly via non-recourse loans or non-voting preference shares by BCL at an interest rate of 10% per annum, with loan repayment in about 8 years of USD 273 Million per annum. In Year 1 the interest cost would be USD150 Million. The loan of USD 1500 Million would be fully repaid in eight years from profits.3) No new ordinary voting shares will be issued by BCL. (This will help in maximizing the value of shares as well as Dividends received by the National Government, ABG and Landowners).4) To allow for carried forward tax losses to be used fully and to encourage BCL to speedily invest a larger amount of capital (which will help Landowners to earn more royalty and the ABG/National Government to earn more from dividends and taxes) offer BCL a tax free status for first two years of full production viz 2011 and 2012. There shall be no dividend withholding tax.5) A tax rate of 30% will apply from 2011. (It will take BCL at least 2 years to get into production so this tax concession will be available for only 3 years during which time they would anyway utilize their carried forward tax losses). This tax will be split equally and paid directly by BCL to the ABG and the National Government
6) Current exchange rate of K1 equals US 41 cents and Aus 52 cents.

1) Landowners will get royalty at 3.5% of sales per annum. This is higher than the rate of 2% provided in the Mining Act. As a quid pro quo there shall be no dividend withholding tax paid on shares of Bougainville Copper, which will also be beneficial to landowners as shareholders of BOC. The dividend withholding tax rate is currently 10%
III. Valuation of Shares, Taxation & Royalty as a going concernIf we assume the same level of production as in 1987 and the current price of copper at USD 2.69 per pound and gold at USD 833 per troy ounce the extra sales will be 392 Million pounds x [2.69-0.81] = USD 737 Million485,720 x [ 833 – 446.7] = USD 188 MillionIncremental Sales = USD 737 + 188 = USD 925 MillionTotal Sales per annum = 535 + 925 = USD 1,460 Million RoyaltyIt is proposed to pay a royalty of 3.5% of sales to landownersThis will be USD 51.1 Million or K 125 Million per annumIf we assume there are 5000 adult descendents of the original 510 titleholders, this corresponds to K 24,900 per annum or K 2,077 gross per adult landowner per month.Royalties must be 3.5% Special Mining Lease Title landowners only; no sharing with ABG who are separately getting generous revenue from taxation (not available to Landowners). These shall be split 70% to individual title holders and 30% to a Future Generation Fund or Non Renewable Resources Fund. Should this split occur monthly payment to individual landowners will be 0.7 x 2077 = K1,454 net per month.Income Tax Income Tax in 1987 = USD 55.7 Million Interest Cost in Year 1 = USD150 Million ( 10% interest rate on US$1.5 Billion)Incremental Tax = 0.3 x [925 – 150 - 51 ] = USD 217.2 MillionTax per annum = 55.7 + 217.2 = USD 272.9 Million = K666 MillionEarnings per shareIncremental Profit After Tax = 0.7 x [925-150-51]= USD 507 MillionTotal Profit After Tax = 100 +507 = USD 607 MillionIncremental Eps = USD1.26Total Earnings per share = USD1.51 per shareDividends per shareThe loan of US$1.5 Billion will be fully repaid in 8 years. Let us assume a dividend payout ratio of 70%Dividends per share in first 6 years while loan is being repaid = USD 1.06 or $A 1.36 or K 2.59 Dividends on 76.43 Million shares = K 198 Million per annum
Valuation of shares Copper prices have increased from 81 US cents a pound in 1988 to about US 2.69 cents a pound and if the mine were running at the pre-89 capacity, earnings per share would be about 6 times the then eps of 25 US cents a share. In the late eighties the shares hit a high of $A7.20; on a similar valuation basis the shares could hit a high of $7.20 times 9.6 or $A43.20.
On a more conservative P/E multiple of 12, the shares should be valued at USD 18.12 or AUD 23.23 provided no new shares are issued. This corresponds to K 44.20 per shareThe 76.43 Million shares would be valued at K 3,378 Million. Hard facts requiring negotiation and distribution predominantly for Bougainvilleans:Shares with an intrinsic value K 3.4 billion plus Annual Income available to Bougainvilleans of K 666+198+125= 989 Million per annum or about K 2.7 million per day comprising: - Annual Tax of some K 666 Million; shared equally with PNG Govt- Annual Dividends worth K 198 Million - Annual Royalty to landowners worth K 125 Million If we assume there are 80,000 adult Bougainvilleans and the dividends are distributed equally amongst them , each adult Bougainvillean will receive about K 1,238 per year. This is apart from the tax of K333 million which the ABG will get as its share of tax.

Kina Values 1988 figures are actual, NEW BCA 2008If taxes are shared 50:50 between National Govt and ABG/BougainvilleansAnd if dividends from shares are paid equally among all distributed in the ratio of 1/2:1/2 for Bougainvilleans: LandownersThe mine life based on proven reserves is 14 years. But if the moratorium on exploration is lifted, the mine life will extend to about 30 years. Also, that will provide greater benefits of royalty to the new landowners in whose leases those areas exist.There is a big quantum leap in benefits for Bougainville:

• New BCA provides ABG/Bougainville income from dividends and taxation of about K333 Million p.a, from 2011 (and an equal amount of K 333 million p.a. to the National Govt) ; this is a whopping increase from merely K5.5 Million received per annum in the pre 1988 era.
• New BCA provides for Landowners to receive about K 125 million per annum from Royalty and K 99 Million per annum from dividends or total of K 224 Million from about 2011 compared with about K0.2 Million p.a. in the pre 1988 era
• New BCA provides equity ownership by Bougainvilleans and Landowners each of some K1.7 Billion worth of shares in BCL compared with zero shares earlier.

It is obvious that this will be the biggest step forward for Bougainville in their history and all Bougainvilleans need to be united in the pursuit of this goal. The Supplemental Bougainville Copper Agreement (2008) needs to be agreed by the initiators viz Landowners together with the ABG, the National Govt and BCL. This bottom up approach will help in fast tracking development which will deliver K5 million per day of benefits from the mine.Proposed Action Plan:1. Joint Supervisory Board meeting between ABG and National Govt agrees that the National Govt’s 76.4 million shares will be given to Bougainvilleans and that the tax from mining will be shared equally between ABG and National Govt until such time as the autonomy vote takes place. From the National Govt’s viewpoint they will still get access to this half tax and since the autonomy vote has a deadline the longer they delay it the less the gain for the National Govt. October 2008. It will be a gesture of friendship, sacrifice and acknowledgement. For the JSB this matter should be on the top of the agenda because nothing else can produce greater benefits for Bougainville. The new BCA will take Bougainville forward on the development path by a quantum leap.

2.Landowners to have reconciliation followed by a unanimous representation. All of them to agree on this Supplemental Agreement, endorsed later in a Mining Forum Meeting. Preferred time frame October 2008. 3.Approval from majority of 4 MPs from Bougainville of 36 Members of ABG, preferred time frame end of October 2008 prior to meeting of ABG with National Govt. 4.Access to mine to be restored : unrestricted and without any fear.- All Guns to be surrendered: Bougainville to be a GunFree Zone.Combatants to be paid two rates : one rate for each home made gun surrendered already (the records of this exist already) another rate for automatic guns.- Negotiations with Meekamui; removal of road blocks so more prosperity can enter. Youth Training Colleges to be established- Aropa airport to be opened- Arawa port to be openedOctober – December 2008 5.NEC Decision on broad issues:- equity transfer so 50:50 sharing can take place between Bougainvilleans and Landowners of 76.4 Million shares- tax 50:50 sharing between National Govt and ABG- royalties to landowners 3.5% no dividend withholding tax - fully delegated departmental tasks of Mining (MRA) and Environment October 2008 6.BCL announces its pre-feasibility study with an Information Memorandum on what the New BCA will mean for Bougainvilleans and landowners.November 2008 7. New BCA to be signed as a Supplemental Agreement appended with the Old BCA preferred time frame December 2008.

Eine völlig neue Sichtweise auf Bougainville Copper http://www.undervalued-shares.com/de/ 9 von oben

u. Bougainville Copper: Wie Phönix aus der Asche? 6 von oben

......as a former PNG mining minister, Sam Akoita kandidiert als Präsidentschaftskandidat ;-)))))))))))

Akoitai ist der wohl erfahrendste Bougainviller Politiker,Ex-BCL Mitarbeiter u. als Ex-PNG Miningminister für den Job wie geschaffen.Anlässlich der HV in POM hat er uns gegenüber noch explizit bekräftigt dass die Wirtschaft in Bougainville NUR mit der Pangunamine und BCL saniert werden kann. Mit ihm als Präsidenten wäre die Wiedereröffnung der Pangunamine wohl nur noch eine "Formsache" ;-)))))))

http://au.news.yahoo.com/a/-/w…der-for-bougainville-job/

Former Bougainville Revolutionary Army (BRA) commander Sam Kauona has put his name forward in the hotly-contested Bougainville presidential race.

The autonomous Papua New Guinea region of Bougainville is to choose a new president after its former leader Joseph Kabui died suddenly of a heart attack in June.

Nominations for the presidential by-election have opened with a new leader expected to be chosen by the end of the year.

Kauona earned his stripes fighting alongside former BRA chief Kabui during the protracted civil war against the PNG defence forces in the 1990s.

"I have decided to contest the by-elections because we the people of central Bougainville have an unfinished task," Kauona told a crowd of supporters.

"We have to make Bougainville safe once again by putting out the fire we started.

"We have to get rid of the guns and the lawlessness especially in the south and central provinces," he said.

The election, with no clear favourite, is also seen as a referendum on the popularity of a controversial mining deal Kabui struck with Invincible, a Canadian-owned company.

Other candidates include a key broker in the 2001 Bougainville peace deal, James Tanis, as well as a former PNG mining minister, Sam Akoita.

Bougainville parliamentary speaker Nick Peniai has resigned to contest the election and former senior BRA members are also expected to run.

PNG's Post-Courier newspaper reports the election is being held under Bougainville's laws which shows another step towards total independence expected in a 2015 vote.

Bougainville and PNG spent nearly a decade in a pyrrhic war over Bougainville Copper Limited's Panguna mine.

The local landowners fighting for better royalties and environmental concerns brought forward the Bougainville independence movement.

An dieser Konferenz hat neben BCL auch eine Panguna Landeignerdelegation unter Leitung von Mr Michael Pariu teilgenommen.Dabei wurden schon konkrete Fragen über die Lagerung des zu erwartenden Abraums der Pangunamine behandelt damit sich ein Umweltdesaster wie am Jabariver nicht mehr wiederholen kann.

An diesem Wochenende findet ein Treffen der Landeigner mit dem von ihnen unterstützten Präsidentschaftskandidaten Sam Akoitai,sowie dem aktuellen PNG Miningminister Hon Dr Puka Temu statt.

I will keep you informed of the progress. ;-)))))))))))))))

http://www.lswn.it/en/press_re…t_madang_papua_new_guinea

A conference on deep sea mine tailings placement will be held from 4 to 7 November in Madang, Papua New Guinea.

The main aim of the conference is to gather international scientists and key stakeholders such as Papua New Guinean government agencies, nongovernmental organisations, mining industry, and landowner representatives to disseminate and discuss the results of:

The world's population will always need mineral resources, and environmental issues associated with their extraction are expected to gain importance.

The challenge, therefore, is to develop the best mining practices and technologies while minimising the environmental impact of mining operations.

Waste disposal is an important issue that requires consideration, and deep sea disposal of mine tailings remains a controversial option.

Nevertheless, when mines are located on islands that have little appropriate land, have a risk of flooding due to high rainfall and have high instability risks due to seismic activity, it may be the disposal option with the least impact.

http://www.stocknessmonster.co…item?S=BOC&E=ASX&N=302391

Order of Magnitude Study Update

Bougainville Copper announced at its annual general meeting in May 2008 that it is
undertaking an order of magnitude study (OoM) to evaluate the technical and financial
requirements to re-develop the Panguna mine.
The OoM is being managed by the Rio Tinto Technology and Innovation Group.
Substantial progress has been achieved with the geology, mining, tailings, environment
and safety components being largely complete. It has been decided to outsource the ore
processing and infrastructure components of the OoM study to a global engineering
company.
A contract for the ore processing and infrastructure components has been awarded to
Hatch Brisbane. Hatch was selected for this work on the basis of its experience in PNG
and its expertise in the design and installation of large concentrators.
The high demand for new mineral resource projects has resulted in a substantial
escalation in new project capital costs. The engagement of Hatch will provide a more
robust estimate of the capital required to re-develop the Panguna operation. This detailed
work will result in completion of the OoM study being delayed. Completion is now
expected in November 2008

http://www.rnzi.com/pages/news.php?op=read&id=43142

Posted at 02:38 on 17 November, 2008 UTC

International observers are expected to monitor the presidential by-election in the Papua New Guinea province of Bougainville which follows last June’s death of Joseph Kabui - the first president elected under the province’s autonomy statute.

The Post Courier newspaper reports that the observers are being invited by the PNG government.

The Bougainville National parliamentary secretary, Fidelis Semoso, says observers will help ensure the by-election is free and fair, and also help build confidence.

Mr Semoso says it is vital that people are properly informed and encouraged to keep building peace.

Meanwhile, there is concern that no budget has been prepared to provide security for next month's polls.

Names listed:

MARTIN MIRIORI
JOEL BANAM
SAM KAUONA
SAM AKOITAI
JAMES TANIS
REV JOSEPH NOPEI
RAYMOND HAKENA
NICK PENIAI
GERARD TSINATO
SYLVESTER NIU
CLARENCE CONZUE
EDWARD OKUAU
RUBEN SIARA
PATRICK LESLIE

http://www.abc.net.au/news/sto…2438890.htm?section=world

Dass Sam Akoitai,der Wunschkandidat aller BCL Investierten, sehr grosse Chancen auf das Amt des Präsidenten hat ist mittlerweile gewusst.Wenn es sich bei Sam Kaouna, dessen Invincible Deal von der Mehrheit der Inselbevölkerung abgelehnt wird um den einzigen wirklichen Gegner handelt,hätten wir die Wahlen wohl schon (fast) "im Sack" ;-))))))))))))))))))))))

Nb. Auch Sam Kauona ist pro Mining ;-))))))))))

Bougainville goes to the polls amid mining row
By PNG correspondent Steve Marshall

Posted 7 hours 46 minutes ago
Updated 7 hours 30 minutes ago

Election: The island of Bougainville (AAP: Lloyd Jones, file photo)
The small island of Bougainville in Papua New Guinea, with a population of around 200,000 is preparing to go to the polls tomorrow to elect a new president to replace Joseph Kabui.

Mr Kabui died from a heart attack earlier this year.

He was elected Bougainville's first president when the island was granted partial autonomy following a civil war over mining in the 1980s and 1990s.

His sudden death has forced a by-election just 18 months out from the next presidential election and it is shaping up as a battle between the 'two Sams'.

PNG's former mining minister Sam Akoitai and former rebel soldier Sam Kaouna, who fought in Bougainville's civil war, are both vying for the top job.

Mr Kauona was responsible for sabotage attacks which forced the now Rio Tinto-owned Panguna copper mine to close and sparked a decade-long civil war on the island.

Mr Kauona says his new mission is to disarm his former comrades who still carry guns, despite the war being officially over.

"Disposing of weapons is very important because in doing that we will make our island safe," he said.

"Firstly for families to live happily, and secondly for our investors to come in and invest on the island."

Armed conflict between two local factions in southern Bougainville has prevented candidates from campaigning in the rebel stronghold, says Mr Akoitai.

"The presence of arms in Bougainville does cause some difficulty for any investors to actually invest in Bougainville and also the business houses in Bougainville to continue trading," he said.

As PNG's former mining minister, Mr Akoitai knows the potential of Bougainville's mineral wealth.

There has been a moratorium in place on mining in Bougainville ever since the war and in recent years the semi-autonomous Bougainville Government has been pushing to gain full control of its resources from PNG's national Government.

Before his death, Mr Kabui struck a deal with Australian businessman Lindsay Semple and his Invincible Resources company.

Invincible Resources was given exclusive rights to mineral exploration on Bougainville, outside Rio Tinto interests on the island.

Invincible also funds the Bougainville Government's resources investment unit, the BRDC.

Former rebel soldier Mr Kaouna was instrumental in the deal.

"That issue is a non-issue because the Government had agreed and voted unanimously when it came to decision-making about Invincible and the BRDC," he said.

"The Government is committed to it and the Government will implement the policy that has been adopted."

Mr Akoitai says most Bougainvilleans oppose the deal the late president stuck with Invincible Resources and the Government's BRDC business arm.

"Every location that I've been campaigning in from the north to the south of Bougainville, they are basically saying that they would like to see the BRDC deal done away with," he said.

Bougainville's Deputy Speaker of Parliament Francesca Somoso is also against the Invincible deal, but says the most important thing right now is for Bougainville to elect a leader.

"The election of the president is really important to Bougainville. Get him in there, whoever it is, and say what can we do now for the people?" she said.

"The most important thing is to get Bougainville back on track."

The winner is expected to be announced early in the new year

SUPER:Und weil es sich so schön liest hat ein ESBC Mitglied auch eine deutsche Uebersetzung verfasst

Englische Originalversion unter:http://www.bougainville-copper.eu/pageID_6914684.html

Spätestens wenn das BCL Management zum Meeting mit dem ABG und den Landeignern in Buka landet und die offiziellen Talks beginnen ist BOC aus seinem Dornröschenschlaf erwacht ;-)))))))))))))))))))

B’ville Copper keen to reopen Panguna mine / BCL scharf darauf die Pangunamine wiederzueröffnen

Die Chancen für eine Wiedereröffnung der aufgegebenen Panguna Kupfer/Goldmine stellen sich vielversprechend dar, nachdem das BEC (Bougainville Executive Council) übereingekommen war, Bougainville Copper Limited zu einem Forum mit den Panguna Landeignern (PLA) und der autonomen Regierung (ABG) einzuladen.

Laut Auskunft von ABG Beratern wird die Einladung zum Forum nächste Woche an BCL verschickt.

Dies wird das erste Mal sein, dass BCL eine Einladung nach Bougainville erhält, nachdem die Firma gezwungen war, ihre Geschäftstätigkeiten in der Pangunamine 1989 einzustellen. Vorausgegangen war ein gewaltsamer Konflikt, in dessen Mittelpunkt Forderungsansprüche und durch Bougainville Copper verursachte Umweltschäden standen.

Der BCL Chairman Peter Taylor hatte einen Brief an den ABG Interimspräsidenten geschickt mit dem Inhalt "dass es jetzt an der Zeit sei eine aktiven Diskussion über die Zukunft des Mining in Panguna zu beginnen"

Das Bougainville Executive Council hat im Laufe dieser Woche über Mr. Taylors Vorschlag debattiert und kam zu der Übereinkunft BCL, vertreten durch CEO Mr Taylor und Company Sekretär Mr Paul Coleman, zu diesem Meeting nach Buka einzuladen.

Das Forum wird BCL die Gelegenheit bieten die offenen Punkte wie Umweltschäden, Landeignerkompensation und die BCL Pläne für die Pangunamine zu erörtern.

In einem weiteren Brief an die Panguna Landeigner sagte Mr Taylor außerdem, dass BCL bereit ist für die Überarbeitung des BCA (Bougainville Copper Agreement). Ferner brachte er zum Ausdruck, dass die Überarbeitung auch Themen wie Mining und gesellschaftliche Aspekte einschließen würde.

Die Überprüfung schließt ein, beschränkt sich aber nicht auf:

- Finanzielle Mining Arrangements
- Steuerthemen
- Umweltthemen
- Kompensation
- Infrastruktur
- Landeignerversöhnung

Mr Taylor sagte, die BCA Überarbeitung ist Teil des ABG 15-Punkte Plans, der von dem verstorbenen Präsidenten Joseph Kabui sowie dem PNG-Government verabschiedet wurde.

BCL, einst der Betreiber einer der größten Tagebau-Minen der Welt führte weiter aus, dass die Überarbeitung des BCA nur dann effektiv sein kann, wenn alle involvierten Parteien in den Prozess eingebunden würden.

Diese Parteien sind: Die Nationale Regierung von PNG, das Autonome Bougainville Government, die Landeigner und Bougainville Copper LTD. Um mit den Verhandlungen zum neuen BCA zu beginnen, muss das ABG einen formalen Antrag an PNG stellen.

BCL beabsichtigt Vorgespräche mit dem ABG und den Landeignern zu führen, verlangt aber von diesen beiden Parteien formell eingeladen zu werden bevor die offiziellen Verhandlungen zur Überarbeitung des BCA beginnen.
„BCL ist bereit die Pangunamine wiederzueröffnen, wenn das der Wunsch von der Mehrheit der Landeigner und der Bougainviller ist“ so Mr Taylor. Die von BCL in Auftrag gegebene Order of Magnitude Studie zeigt dass profitables Mining in Panguna möglich ist, die Investitionskosten jedoch auch hoch sein werden.

Diese Studie ist der erste Schritt zu einer Entscheidung, ob eine komplette Machbarkeitsstudie zur Wiedereröffnung sinnvoll ist. Die Studie kommt aber auch zu dem Schluss, dass solange der Zutritt zur Mine verwehrt ist, es nicht möglich ist eine Entscheidung hinsichtlich Durchführung einer solchen Studie zu treffen.

„Basierend auf der Tatsache, dass eine Minenbesichtung unabdingbar ist, um weitere Schritte einleiten zu können, werden wir uns weiter darauf konzentrieren, die Beziehungen zu den Landeignern und Regierungen zu pflegen und alle involvierten Parteien in die Überlegungen mit einzubeziehen und über den aktuellen Stand auf dem Laufenden zu halten“ sagte Mr. Taylor.

http://www.theage.com.au/
Bougainville landowners call for mining December 12, 2008 - 11:32AMBougainville landowners who fought Papua New Guinea security forces in a decade-long civil war sparked over a giant copper mine want to restart mining to achieve viable independence.Panguna Landowners Association (PLA) chief Michael Pariu told AAP that mining was the only way the island's independence from PNG could be economically viable following a proposed 2015 referendum on independence.The PLA was one group among many that formed the Bougainville Revolutionary Army that through militant action forced the closure of the Bougainville Copper Ltd (BCL) Panguna mine in the island's Central Province from the late 1980s.Landowner groups disputed mining royalties and many were angered at environmental damage caused by the mine's operation.The island's autonomous government has said the mine would not reopen without the permission of landowners and the people of Bougainville.The PNG region's autonomy and the proposed referendum on independence are part of the 2001 Bougainville Peace Agreement, reached between combatants with the assistance of Australia and New Zealand."Independence for Bougainville without mining, I would never, never believe in that sort of independence. No, no, simply that," Pariu said."Independence means something economically viable otherwise we are talking about a dream independence."He said BCL must offer a better deal benefiting not just local landowners but the whole of Bougainville and even PNG."The reach of the benefits to the landowners was one kina to (BCL's) five hundred kina from the 1960s to the 1980s, that was my complaint," he said."This is the injustice I have seen and why I was involved in the conflict."Landowners are ready to negotiate to make a deal, our terms are the landowners and Bougainville must benefit, fair distribution is what we want."Landowners are in talks with BCL and have the support of the Autonomous Bougainville Government, he said.While many key stakeholders want the mine to reopen, other factions like the Meekamui Nationalist Movement, keep Bougainville divided and complicate matters.Meekamui wants to form its own government for Bougainville but has splintered militias scattered across the island with many at odds with each other.The Meekamui Defence Force (MDF), headed by self-appointed General Chris Uma, maintains a heavily armed no-go zone around the Panguna mine and refuses to negotiate with other parties seeking reconciliation."We do not recognise the Panguna landowners," Uma told AAP."The road blocks show we have a fight here and it's not over.""We want mining for development but only when Meekamui is government, the only way to open the mine is to recognise MDF as the authority."Angela Kabareui, the Panguna District Women's Association president, said the feuds were linked to the civil war, had exacerbated in the years afterwards and would only be resolved with time."Reconciliation is going to take time, bit by bit, but it has to happen as all the mothers in the district want it," she said."We are a matrilineal society so we mothers must take a lead in the reconciliation process."
© 2008 AAP

Uebersetzung

Landeigner fordern Mining

Die Bougainviller Landeigner,welche die Sicherheitskräfte von Papua-Neuguinea in einem dekadenlangen Bürgerkrieg,ausgelöst durch eine gigantische Kupfermine bekämpften, möchten jetzt die Kupfermine wiedereröffnen um die Unabhängigkeit zu erlangen.

Der Chef der Pangunalandeignervereinigung (PLA) Michael Pariu erklärte AAP dass Mining der einzige Weg für die Insel sei um Unabhängigkeit von PNG in einem

Referendum 2015 zu erreichen.

Die PLA war eine der Gruppierungen, welche die Bougainville Revolutionäre Armee bildeten welche durch militante Aktionen die Schliessung der Bougainville Copper LTD gehörende Pangunamine in der Zentralprovinz Ende der 80er erzwang

Die Landeignergruppierungen zerstritten sich über die Aufteilung von Royaltys und manche waren verärgert über die durch Mining angerichteten Umweltschäden.

Die autonome Regierung der Insel hat angekündigt die Mine würde nicht ohne die Zustimmung der Bevölkerung und der Landeigner wiedereröffnen.

Die Autonomie und das vorgeschlagene Referendum zur Unabhängigkeit ist Teil des Bougainviller Friedensabkommens welches unter Assistenz von Australien und Neuseeland 2001 zustande kam.

Unabhängigkeit für Bougainville ohne Mining,ich will niemals,niemals an so eine Unabhängigkeit glauben.Nein,nein,ganz einfach sagt Pariu.

Unabhängigkeit bedeutet etwas ökonomisch Lebenswertes,ansonsten reden wir über eine Traum-Unabhängigkeit.

Er sagt BLC muss einen besseren Deal als früher vorschlagen,von dem nicht nur die lokalen Landeigner sondern ganz Bougainville und sogar PNG profitiert.

Die Beteiligung der Landeigner an den Gewinnen war 1 Kina pro BCL's 500 Kina.von Anfang der 60 bis 1989.

Das war die Ungerechtigkeit die ich gespürt habe und wodurch ich in den Konflikt involviert war.

Die Landeigner sind zu Verhandlungen bereit um einen Deal abzuschliessen,unsere Forderung ist dass die Landeigner und Bougainville davon profitiert,eine faire Aufteilung ist das was wir möchten.

Die Landeigner sind in Gesprächen mit BCL und haben die Unterstützung der autonomen Regierung sagt er.

Während viele Beteiligten die Mine wiedereröffnet sehen möchten,halten andere Fraktionen wie die Nationalistische Meekamui Bewegung Bougainville gespalten und komplizieren vieles.Die Meekamuis möchten ihre eigene Regierung für Bougainville bilden,sind aber als miteinander zerstrittene militante Gruppierungen über die Insel verstreut.Die Meekamui Defence Force (MDF), mit ihrem selbsternannten General Chris Uma hält eine schwer bewaffnete No-Go-Zone um die Pangunamine besetzt und weigert sich mit den anderen Parteien,welche Versöhnung suchen zu verhandeln.

Wir erkennen die Panguna Landeigner nicht an erzählt Uma AAP.

Die Strassensperren zeigen dass wir hier einen Kampf führen und es ist noch nicht vorbei.

Wir wollen Mining für Entwicklung,aber erst wenn die Meekamui die Regierung stellen,der einzige Weg die Mine wiederzueröffnen ist die MDF als Autorität anzuerkennen.

Angela Kabareui,die Präsidentin der Panguna Frauenvereinigung sagt die Fehden beruhten auf dem Bürgerkrieg und seien danach ausgeufert,nur die Zeit könne die Wunden heilen.

Versöhnung braucht Zeit,Stückchen für Stückchen,aber sie wird kommen,alle Mütter des Distrikts wollen sie.

Wir sind eine matriarchalische Gesellschaft,also müssen wir Mütter die Leitung im Versöhnungsprozess übernehmen.

............ist ein Meeting Somare/Tanis in POM geplant,bei dem es u.A. um die nach seinem letzten Besuch erzielten Fortschritte geht sowie um die konkrete Umsetzung des "Weapons Disposal Programm" zu terminieren.

Tanis hat in den letzten Wochen mit allen Fraktionen gesprochen und ihr prinzipielles Einverständnis zur Waffenniederlegung erhalten.Gewünscht ist dass das Einsammeln der Waffen überall simultan erfolgt.

The arms disposal was the main topic of the trip. All factions wanted a neutral body to collect all the weapons. In Buin The team went as far as Lukauko and Kaitu. They all expressed their felling that now ABG President who cares to visit them in their own areas. The former President had no luksave long all people blong em na i nosave go round lukim ol all. In two weeks time they expect the President to make another trip to visit them personally.

Wilmo, Koike, Konou, Thomas Tari, Noah Musingku all wanted a neutral body to collect the weapons at the same time. Panguna is also ready . Central and south are ready to surrender their weapons to the neutral body.
The President will be travelling from Arawa to Buka today for the selection of the Chief Administrator.
The sad thing was the Member for Konou did not go with the team.
In Buin Town on Saturday thousands of people came to hear the President speak. All werer happy and satisfied with the President's speech.
They commented that at last they have a President who is more committed to the peace process and willing to visit his own people.

Nachdem nun allen klar ist dass die Pangunamine wiedereröffnet wird,so gibt es jetzt auch schon erste konkrete Vorstellungen über das Wie.

We do not know how much ore is stockpiled, waiting to be milled. We also do not know the molybdenum credits in that stockpile.

If we add the 18-year data of the two rows from the Table in the last two pages of the Annual Report we find that:

- Ore and Waste Removed in the 18 years was 1248 M Tonnes

- Ore Milled was 675 M Tonnes

- On average the company mined about 69.3 Million tonnes per year [or 1248/18] and milled about 37.5 Million tonnes per year [or 675/18]. The difference between these two figures is 573 M Tonnes. The company has not stated what percent of the mined ore was waste. But I asked P. T. this question about three years ago and he confirmed the ore stockpile was enough for 2 to 3 years of milling. So the mining equipment can come after2 years of start-up.

Mit dem noch auf Halde liegenden Erz lässt sich also nach von BOC bestätigten Aussagen mit rel. geringen Kosten eine ProduKtion von 2-3 Jahren fahren.

Zum Einen könnten sowohl BOC als auch das ABG und die Landeigner schnellstens Einnahmen generieren,ein Fakt,welcher wohl im Interesse aller liegen dürfte.

Mit BCL als "Going Company" sollte der aktuelle Sharepreis dann definitiv "Geschichte" sein. ;-)))))))))))))))))

The challenges for Bougainville's young new president James Tanis

"I want the Panguna mine reopened"

Interview: http://www.youtube.com/watch?v=r5Q8xSqxGL8&NR=1

......................aber nach über 20 Jahren Abwesenheit kam es letzte Woche zu einem ersten Meeting zwischen dem Bougainviller Präsidenten James Tanis und dem BCL Verantwortlichen Paul Coleman in Buka.

Sinn und Zweck des Meetings: Die Vorbereitungen zur Wiedereröffnung der Pangunamine (bei der Schliessung in 1984 die 4-grösste Openpit Kupfermine der Welt)

http://www.thenational.com.pg/?q=node/1316

AFTER more than 20 years, the management of the Bougainville Copper Ltd (BCL), would finally be hearing first hand how the people on Bougainville island feel about the 10-year crisis that led to the closure of the gold mine in May 1989.

A BCL representative, company secretary Paul D Coleman, was in Bougainville last week “to see and hear for himself how the people on the ground felt about the 10-year-crisis”.

Mr Coleman was in Buka at the invitation of Autonomous Region of Bougainville President James Tanis.

“The conflict (Bougainville) must end where it started … at Panguna,” Mr Tanis declared in a statement released to the media yesterday.
He said he sees his role only as a mediator between the different factions with great stakes at the idled gold mine.

“It arose out of disputes between landowners, members of the North Solomons provincial government, the Government of Papua New Guinea, and BCL and multinational company CRA.

“Therefore, it is these stakeholders who need to be assisted to come together to end the Panguna conflict.”

Mr Tanis told Mr Coleman that as president, “my role is to ensure that these parties come together to solve the problem once and for all”.
Mr Coleman’s visit was the first for the company, after 20 years.

In his talks with Mr Tanis, the BCL official noted the willingness of the people of the region to discuss issues in an open and friendly manner.

In a statement released yesterday, Mr Coleman said he was “very pleased” to visit Bougainville at the invitation of Mr Tanis, and the people of the Autonomous Region.

“Bougainville Copper Ltd has had a long standing relationship with the people of Bougainville, and although it has been 20 years since we have been here officially, it is well known that BCL has always had an open door and a friendly welcome to anyone from Bougainville who wants to talk to us about issues of mutual interest,” Mr Coleman said.

“The Bougainville Copper Foundation has also helped to keep us in touch, through the programmes of education and other assistance which have been maintained at all times since the crisis.

“BCL has a natural interest in viewing the state of its assets in the region, and hearing from the people first hand, on the matters that concern them.
“There are many things to discuss, and it is very pleasing to be making a start on these talks, here in the Autonomous Bougainville Region, among the people.

“I thank President Tanis for having the vision and the concern for his people to initiate this meeting,” Mr Coleman said.
He also told the people there that the World Bank would be sending a representative to the island to further discuss the capacity building programme for administration of the mining industry on Bougainville.

The gold industry might be funded by the bank, which Mr Coleman said could help facilitate the draw down of mining powers under the peace agreement.

He said this could lead all stakeholders towards the renegotiation of the Bougainville copper agreement.

“Many of the issues of interest to the people of Bougainville, and their future as an economically independent region, might well be discussed under the terms of such renegotiation,” Mr Coleman said.

“For the moment, it is pleasing to be here, and I extend my thanks to the people of Bougainville for making me welcome,” he said.

Started in 1972, the Panguna gold mine was billed as the world’s fourth largest copper mine in 1985, producing 46.5 million tonnes of ore the year before (1984).

The mine was closed by the Bougainville Revolutionary Army (BRA) in 1989, followed by a civil war.

http://www.ariva.de/Trading_Bo…67948_t304728#jump6642197

..........auf Basis der aktuellen Marktpreise die Reserven je Aktie zu berechnen.

Bei insgesamt rund 400 mio. Aktien und 1 Mrd. t Reserven sind das 2,5 Tonnen je Aktie. Unterstellt man 0,33% Kupfer pro Tonne bzw. 0,37g Gold/Tonne so kommt man auf 8,25 kg Kupfer/Aktie b. 0,925g Gold/Aktie. Bei aktuellen Marktpreisen von USD 1019/Oz und USD 5920/Tonne kommt man auf USD 48,84/Aktie für Kupfer und USD 30,24/Aktie für Gold. Insgesamt macht das USD 79,08/Aktie oder EUR 53,64/Aktie.

Damit werden die Reserven an der Börse mit 0,6% bewertet. Als grobe Daumenregel werden im Markt üblicherweise 8% angesetzt. Das daraus resultierende Kurspotential – allein bis zum Abschluss der Neuverhandlungen über ein neues BCA - kann sich jeder selbst ausrechnen (Silber, Moly und 7 weitere Lizenzen unberücksichtigt).

Voraussetzung dafür ist, dass es wie von Coleman auf Buka angesprochen zu Neuverhandlungen kommt. Zumindest ist mit dem Besuch in Buka ein weiterer Meilenstein gemacht. Allein die Ankündigung der Neuverhandlungen sollte jedoch dafür gut sein, dass die Aktie zum Leben erweckt wird.

Wollen wir hoffen, dass der Weg dorthin mit dem Abschluss der Versöhnungsfeiern, Wahlen der Landwoner, offizieller Aufhebung der No-Go-Zone und dem JSB bis Jahresende bereitet ist.

http://www.postcourier.com.pg/20091009/frhome.htm

Landowners welcome BCL visit

By Eric tapakau

THE Panguna Landowners Association has welcomed the invitation of Bougainville Copper Limited executive Paul Coleman into the Autonomous Region of Bougainville.
Spokesman Lawrence Dav-eona said the visit by Mr Coleman was not only timely but long overdue.
Mr Coleman visited Bougain-ville at the invitation of Autonomous Bougainville Government President James Tanis who wanted to bring together all stakeholders of the Panguna mine for
a forum.
“As head of the Government of the people of Bougainville Mr Tanis has taken the issue of BCL head on instead of putting it on the side bur-ner and on behalf of the PLA executive and
the people of Panguna in general I have already congratulated him,” Mr Daveona said.
He said the Mr Tanis should be given the support of all Bougainvilleans on the way he is approaching the issue of BCL and what had transpired with respect to the major players that
resulted in the crisis. Mr Tanis’ invitation of BCL’s representative to the island must be seen as the beginning to get all major stakeholders together to try and deal with outstanding
issues. A major one that concerns the Panguna landowners is that of their outstanding compensation payments for 1989 to 1990.
Mr Daveona said executives from the association, including chairman Michael Pariu and ex-combatants knew of Mr Coleman’s visit except for landowners including his cousin brother Peter
Kove.
He said Mr Kove had no right to speak for the landowners as he did not have direct ownership to land in the Panguna mining lease area.
“It is important to note here that our people must not conclude from his (Mr Coleman) visit that the ABG and Panguna landowners are planning on talking about the resumption of
mining in Panguna,” Mr Daveona said.
“The issue of resuming any mining activity anywhere on Bougainville is covered under our ABG Constitution.”

Post-Courier, 08.10.2009

President hands off policy on Panguna

By WINTERFORD TOREAS

AUTONOMOUS Bougainville Government President James Tanis says he will not dictate the re-opening of the Panguna copper mine in Central Bougainville.
Speaking during the visit of the Bougainville Copper Limited’s (BCL) company secretary Paul Coleman, Mr Tanis said he would have nothing to do with the decision to re-open the mine.
He said his role as the president of the region was to act as a facilitator, and not to direct or force BCL or other parties concerned to re-open the mine.
Mr Tanis said the issue on the re-opening of the Panguna mine would be decided by BCL and other parties concerned.
He said as an individual, he had no conflict of interest in the development of the mine.
Mr Tanis however outlined that before the issue on the re-opening of the mine was discussed peace and normalcy must first of all prevail on the island to allow for a conducive working environment.
Mr Coleman was invited by the ABG president as a means to opening and establishing dialogue and communication with all the parties involved in the crisis to work out a final solution.
Meanwhile, three major reconciliation cere-monies will be held this month in Central Bougainville.
The first one which will be held on October 16 is scheduled to be held in Panguna.
The second and third ceremonies are scheduled to held on October 21 and 23 at Arawa.
Deputy Prime Minister Sir Puka Temu will be attending these reconciliation ceremonies.
These ceremonies will also coincide with the official opening of the President’s and Peace Ministry’s offices in Arawa.