Bougainville Copper Ltd. / BOC (ASX)

    29 November 2010










    291110PANGUNA ON
    By Aloysius Laukai


    Panguna Landowners this morning returned to their homes satisfied on the weekend meeting.
    They are meeting at Panguna in two weeks time New Dawn FM will cover live from Panguna this next meeting by the Panguna Landowners.
    Picture are the Landowners after the meeting.
    More stories on the meeting shortly.


    [Blockierte Grafik: http://bougainville.typepad.com/.a/6a011168831e92970c01348995ad0d970c-800wi]





    Posted at 11:58 AM | Permalink

    Zum ersten Mal seit der Minenschliessung vor 20 Jahren haben sich die 6 verschiedenen Landeignergruppierungen (unanimiously) für die Wiedereröffnung der Pangunamine ausgesprochen.Diese Information(Das Meeting war erst gestern) wurde bis jetzt nur von Radio New Dawn on Bougainville u. im PNG Postcourier veröffentlicht. Bis hier die ersten Börsenbriefe aufspringen kann es also noch etwas dauern.


    Der nächste Schritt ist der Beginn der BCA Review (Bougainville Copper Agreement)


    Das ist der Meilenstein,welcher von BCL u. Rio Tinto per AD-hoc an die ASX übermittelt werden muss,dann wird auch BOC, bei seiner Schliessung die 4 grösste (akt die No 12) , wieder in den Fokus der Anleger rücken.


    Ich bin seit Dez. 04 mit einer grossen Position investiert (1 Einstieg bei 0,22 €,Durchschnitt um die 0,45) u. mit der Entwicklung durchaus zufrieden. ;-)))))


    Mittlerweile gehen die Landeigner äusserst professionell vor,wie man ihrem eben erst up-gedateden "Landowners Proposal" entnehmen kann.


    Download unter: http://www.friendsofbougainville.com

    http://www.miningnews.net


    INVESTOR interest in Bougainville Copper, half-owned by mining major Rio Tinto, was roused yesterday when reports emerged of the mine reopening by 2011 amid growing rumours of a possible Chinese buy-out.


    Shares in the company are trading at $1.62, up from $1.44 last week.


    Only last month the company received a speeding ticket from the Australian Securities Exchange when its shares went from $1.37 mid-month to an intra-day high of $1.68 on November 18.


    An unconfirmed article in the Post Courier (Papua New Guinea) reported at the time on “big” Chinese interest to buy out the Panguna mine lease.


    There were also whispers that Rio Tinto had applied for a 21-year extension to its mining lease at Panguna, but Mining.News.net was unable to confirm this and was still awaiting a response from Rio at the time of going to press.


    Autonomous Bougainville Government President John Morris, on a return trip from China late last month, was quoted as saying “the Chinese have a big interest in the Panguna mine, one of them said they could buy out Rio Tinto ... that shows how powerful they are”.


    “We must be ready for the Chinese when they come,” he said.


    The Autonomous Region of Bougainville hopes to become an independent state in a referendum planned for 2015.


    A separate article filed by the Post Courier on Monday reported that 100 representatives from the six Panguna mine lease affected areas met in Bougainville’s centre Buka for two days for official negotiations on reviewing the Bougainville Copper Agreement.


    The agreement was one of the big concerns for locals also angered by large amounts of revenue going to the PNG government and Bougainville Copper.


    Bougainville Affairs Minister Fidelis Semoso brought together all six mine lease area representatives for talks, reportedly the first time in six years all key stakeholders were in the same room.


    The meeting’s outcomes included an optimistic timeframe from the mine to reopen, if all goes to plan, by December next year.


    “We, the six Panguna mine-affected landowner associations, through our umbrella landowner executive, are of the firm position that the following must be resolved to our satisfaction prior to any reopening and returning to mining,” a statement said.


    The group then presented a list of demands, including greater involvement in Bougainville Copper’s decision-making process, a thorough review of social and environmental conditions, and a new financial approach.


    More recently, Momis was quoted as saying the mine needed to be reopened to kickstart development in Bougainville.

    INVESTOR interest in Bougainville Copper, half-owned by mining major Rio Tinto, was roused yesterday when reports emerged of the mine reopening by 2011 amid growing rumours of a possible Chinese buy-out.


    Shares in the company are trading at $1.62, up from $1.44 last week.


    Only last month the company received a speeding ticket from the Australian Securities Exchange when its shares went from $1.37 mid-month to an intra-day high of $1.68 on November 18.


    An unconfirmed article in the Post Courier (Papua New Guinea) reported at the time on “big” Chinese interest to buy out the Panguna mine lease.


    There were also whispers that Rio Tinto had applied for a 21-year extension to its mining lease at Panguna, but Mining.News.net was unable to confirm this and was still awaiting a response from Rio at the time of going to press.


    Autonomous Bougainville Government President John Morris, on a return trip from China late last month, was quoted as saying “the Chinese have a big interest in the Panguna mine, one of them said they could buy out Rio Tinto ... that shows how powerful they are”.


    “We must be ready for the Chinese when they come,” he said.


    The Autonomous Region of Bougainville hopes to become an independent state in a referendum planned for 2015.


    A separate article filed by the Post Courier on Monday reported that 100 representatives from the six Panguna mine lease affected areas met in Bougainville’s centre Buka for two days for official negotiations on reviewing the Bougainville Copper Agreement.


    The agreement was one of the big concerns for locals also angered by large amounts of revenue going to the PNG government and Bougainville Copper.




    Bougainville Affairs Minister Fidelis Semoso brought together all six mine lease area representatives for talks, reportedly the first time in six years all key stakeholders were in the same room.


    The meeting’s outcomes included an optimistic timeframe from the mine to reopen, if all goes to plan, by December next year.


    “We, the six Panguna mine-affected landowner associations, through our umbrella landowner executive, are of the firm position that the following must be resolved to our satisfaction prior to any reopening and returning to mining,” a statement said.


    The group then presented a list of demands, including greater involvement in Bougainville Copper’s decision-making process, a thorough review of social and environmental conditions, and a new financial approach.


    More recently, Momis was quoted as saying the mine needed to be reopened to kickstart development in Bougainville.


    Shares in Bougainville Copper were up 1.25% in morning trade to $1.62.



    http://www.miningnews.net/storyview.asp?storyid=1587257

    Wer die Mosaiksteinchen,insbesondere der letzten Wochen richtig zusammengesetzt hat weiss schon lange worum es geht.


    Insbesondere was in #185 aus der am besten informierten Au Miningpublikation noch als "Gerücht" bezeichnet wird ( u. das RT wohlweislich nicht kommentiert, hihi) hat sich der Autor bestimmt nicht aus den Fingern gesogen.


    Dass an einem Meeting M/PT gebastelt wird,das einen Besuch von M. bei RT/AU vorbereiten soll haben auch die grossen Ohren schon spitzgekriegt ;-))))


    Es würde mich also garnicht wundern wenn M/PT nächste Woche gemeinsam auf der PNG Mining- u. Investorenkonferenz in Sydney auflaufen würden,bei welcher Bougainville u. Panguna laut Programm ab "Teatime" das zentrale Thema sein werden.


    Falls es ein Interesse von RT an einem JV mit den Chinesen gibt,jede Wette dass einige Vorort sein werden.


    Schon klar dass man eine ASX Price Query also zu diesem Zeitpunkt unbedingt vermeiden will. Für solche Fälle hat man schliesslich RT Base metals, die nach Beendigung des ADR Programms kräftig aufgestockt haben.


    Der momentane "Deckel" bei 1,70 AUD könnte also möglicherweise die letzte Chance sein noch kostengünstig auszustocken/einzusteigen.Nicht zu vergessen dass die Landeigner Momis u. ABG in dieser Woche per Interview aufgefordert haben die BCA Review energisch voranzutreiben u. dass nächstes WE schon wieder ein Landownersmeeting ansteht. ;-)))))))))))))))))

    06.12.2010
    Source: ABC - Australian Broadcasting Corporation
    $US4 billion to reopen Panguna mine, says Somare


    Prime Minister Sir Michael Somare presides over an unprecedented boom in Papua New Guinea mining. [AFP].


    Papua New Guinea's Prime Minister, Sir Michael Somare, says he hopes the Bougainville copper mine can be reopened within two years.
    He was speaking at the opening of the PNG Mining and Petroleum Investment conference, in Sydney, Australia.
    The prime minister said reopening the Bougainville mine would cost about $US4 billion.
    The Panguna mine was closed 20 years ago amid secessionist violence.


    Pressure
    But with demand for copper increasing, there is growing pressure to reopen the mine to exploit one of the world's largest deposits.
    A record 1,100 delegates registered to attend the investment conference, with commodity prices high and PNG in the grip of a mining and gas boom.
    The three-day event will see Sir Michael joined on the podium by all his key economic and resources ministers, as well as landowners and landowner companies.
    Investors will hear updates on projects ranging from the $15 billion ExxonMobil-led PNG liquefied natural gas project and Xstata Copper's $5.3 billion Frieda River development.
    Also to be covered were the Chinese-owned Ramu Nickel mine and well-advanced plans for the world's first seafloor mining.


    06.12.2010
    Source: REUTERS
    PNG looking at re-starting Bougainville copper mine
    By Bruce Hextall


    SYDNEY, Dec 6 (Reuters) - Papua New Guinea Prime Minister Michael Somare said on Monday efforts could be underway within two years to reopen the Bougainville copper mine as the country looks to boost exports of copper.
    "We could see the reopening of Bougainville at a cost of about $4 billion," Somare told an Australian investment conference on mining in Papua New Guinea.
    The Panguna copper mine on Bougainville island was closed 20 years ago following secessionist violence, preventing further exploitation of one of the world's largest deposits.
    The mine was previously operated by Bougainville Copper, 53.58 percent owned by Rio Tinto .
    "PNG is in the throws of becoming a major world supplier of copper," said Somare.
    The mine has the potential to operate an annual rate of 200,000 tonnes of copper and 400,000 ounces of gold, making it larger than BHP's Olympic Dam mine in Australia.
    Sources familiar with the project said Rio Tinto had applied to the PNG government for a 21-year mining lease over Bougainville's Panguna mine.
    A Rio Tinto spokeswoman said Bougainville Copper did not have a timetable for re-opening the Panguna mine.
    "There is a formal peace process underway and we are participating in that," she said.
    Rio Tinto's website states that Bougainville Copper had welcomed the support expressed by local landowners and would continue to work alongside them.
    The company also said it was giving practical assistance to the processes of reconciliation and social stability.
    Secessionist violence ended a decade ago after a peace treaty gave the island autonomy, but there has been little economic development since then.
    Papua New Guinea is rich in resources but has often struggled to exploit them due to endemic corruption, land ownership issues and poor infrastructure.
    The country is ranked 154th in the world in Transparency International's annual corruption index on a par with Congo and below Sierra Leone.
    (Reporting by James Regan and Bruce Hextall; Editing by Ed Davies)


    06.12.2010
    Source: Post-Courier
    BCL shareholders happy
    By GORETHY KENNETH


    THE European shareholders of Bougainville Copper (ESBC) welcomed the breakthrough achieved by the Panguna landowners on their conference in Buka (Bougainville) : “We are very satisfied on the meeting’s outcome,” said ESBC president Axel G. Sturm on Sunday evening in Bangkok.
    “This gives Bougainville the chance to recover financially from all suffering in the last 20 years.
    “I am very grateful to the Minister of Bougainville Affairs, Fidelis Semoso that he finally pushed things cogently forward by organising this conference. We are also glad that the Autonomous Bougainville Government assisted this important act.”
    Mr Sturm outlined that he appreciated very much Mr Semoso’s courage to face this sensitive issue without any prejudice or fear. The re-opening of the world class Panguna mine has been scheduled for the end of 2011.
    “Next year will already bring giant investment to the island and many people who are jobless now will soon find work,” said Mr Sturm, “this makes me very happy especially for the young generation on Bougainville who will take benefit of the decisions on this historical weekend.”



    Quelle:www.bougainville-copper.eu

    TALKS are under way on reopening one of the world's biggest copper and gold mines -- on Australia's doorstep.


    http://www.theaustralian.com.a…ry-e6frg8zx-1225976819323


    TALKS are under way on reopening one of the world's biggest copper and gold mines, on Australia's doorstep -- the Bougainville mine that last produced ore 22 years ago and was widely believed to have closed forever.


    The seemingly unstoppable China-driven commodities boom has pushed up prices, so the reserves in the Bougainville pit are now worth about $50 billion.


    Its port, its access road up 30km of rugged terrain and its 200 million tonnes of pre-stripped ore are ready and waiting.


    Crucially, leaders on Bougainville -- including former combatants and elected politicians -- are all calling for the mine to reopen, although they have yet to agree on the conditions they require.


    "The key to the door," Bougainville Copper chairman and managing director Peter Taylor said, "is the landowners."


    Nothing could happen "until they say to BCL, as a united group, 'We want the mine and we want you to run it' ".


    "Then I'll focus on the process that would follow."


    Veteran politician and former Catholic priest John Momis, the recently elected President of Bougainville -- an autonomous region of Papua New Guinea -- said: "We are keen to reopen the mine and we are holding talks with the landowners."


    BCL's share price has doubled since August and trebled since May, as canny investors have watched vital and promising talks begin.


    Bougainville Copper, which is 53.58 per cent-owned by Rio, 19.06 per cent by the Papua New Guinea government and 27.36 per cent by other shareholders, estimates it will cost about $3bn to reopen the mine, whose production was suspended on May 15, 1989.


    The trucks and the electricity pylons may have been blown up, rusted or cannibalised, but the resources in the mine have not been damaged or diminished over the past 21 years. It contains 3.5 million tonnes of copper, today worth about $32.4bn, and 12.7 million ounces of gold, worth today about $17.8bn.


    There are more reserves beyond the pit but still in the mine lease area.


    The mine as presently configured is capable of producing up to 170,000 tonnes of copper and 500,000 ounces of gold annually.


    The copper price has quadrupled since the mine closed, the gold price seven times.


    The values of the two metals have usually run counter-cyclically, but this year they have peaked together.


    But the cost of capital is also high, and is likely to come at a premium given the tumultuous history of the mine.


    Former Australian prime minister Bob Hawke, who has close Chinese commercial connections, in late November visited Port Moresby, where he talked with Prime Minister Michael Somare and Mr Momis.


    The discussions included plans to reopen the Bougainville mine.


    After leading a Bougainville delegation of 34 on a visit to China, where he was once the PNG ambassador, Mr Momis said: "The Chinese have expressed an interest in the mine, but we are keeping all our options open."


    The overwhelming focus of 40 years ago on the mine as a national economy maker or breaker is no longer present.


    It would remain the crucial income earner for Bougainville itself, but for PNG the spotlight has shifted to the $16.5bn ExxonMobil-led venture piping gas from the Southern Highlands to Port Moresby, where it will be liquefied for export to Asia. This is by far the biggest project ever conceived in the Pacific islands.


    In this context, Port Moresby might more readily contemplate transferring its 19 per cent ownership of Bougainville Copper to the island itself -- where preliminary discussions have contemplated the autonomous government retaining 60 per cent, and the landowners taking 40 per cent.


    On a pro rata basis, the owners of PNG's 19 per cent share would have to raise $570 million towards the mine's reopening.


    It is possible Chinese entities, eager to obtain reliable sources of resources, may be prepared to help fund it, either in return for equity, or for future copper output.

    http://www.theaustralian.com.a…ry-e6frg8zx-1225976819920


    Rising prices boost Bougainville mine hopes



        PENT-UP demand for development and spiralling prices are creating pressure for the reopening of Bougainville copper and gold mine.


        A prospect that has been unthinkable for decades.


        Peter Taylor, who has been chairman of Bougainville Copper (BCL) since 2003 and managing director since 2000 and who worked on Bougainville as company secretary from 1985 to 1987, is a mining industry veteran whose priorities are all about people.


        He says his focus is not on the hardware or the engineering or on raising the $3 billion that the reopening is expected to cost.


        He says: "We must ensure the landowners retain number one importance. And the Bougainville government's support is also critical. All the signs are that the leaders on Bougainville want the mine open, and as soon as possible, rather than just some day. And the national government agrees."


        Bougainville's new President, John Momis, elected for five years in June, is a former Catholic priest and former deputy prime minister.


        While campaigning for the PNG election in 1987, he famously presented a letter to the then BCL managing director, Paul Quodling, that demanded the company give 3 per cent of its gross income to the Bougainville provincial government.


        The request received wide support on Bougainville, but Quodling said it was impossible to meet, adding to tensions that soon exploded on the ground.


        During the civil war, a leading rebel attempted to shoot Momis at close range from behind, but the pistol jammed.


        Momis now says: "We are keen to reopen the Panguna mine, and we are holding talks with the landowners. Of course, Bougainville needs the mine to be reopened under a new regime. All parties should learn lessons from the crisis, and collaborate to build a better future."


        Momis recently led a group of 34 -- including former combatants -- to China, where he recently served as PNG ambassador. China is likely to play a role in the rebuilt mine as leading customer, equity partner, or both.


        Bougainville is an autonomous region within PNG, and under a peace accord with PNG, it has the right to administer its own mining and land laws. The World Bank has been funding a program to help Bougainville define its own mining regime.


        Taylor hopes that this will complement the PNG mining legislation, which has helped facilitate a boom in foreign investment there.


        Besides the $16.5bn ExxonMobil LNG project, there are promising gas finds in Western Province, and an onshore project in Gulf Province led by InterOil. The Frieda River copper-gold project led by Xstrata is due to move soon to full feasibility mode, and the Wafi project -- also copper-gold -- is not far behind. These are each likely to become $4bn-$5bn ventures.


        The latter is owned by Newcrest and Harmony, which are commissioning the Hidden Valley gold-silver project.


        Marengo Mining is proceeding with a feasibility study at Yandera, a copper-gold deposit not far from the $1.4bn Ramu Nickel project being developed by China's Metallurgical Construction Corp.


        Since BCL suspended the mine, many groups have tried to control the promising mining zone.


        "The Bougainvilleans have seen them come to the island, and haven't liked them," Taylor says.


        So they have come back to BCL -- the devil they know -- despite all their past disagreements. The rogues have done BCL and its ultimate parent, Rio Tinto, a favour.


        The 10-year civil war on Bougainville had many complex causes, and was a nightmare for many Rio executives.


        The conflict led to big changes in how miners relate to host communities worldwide. So the reopening of the Bougainville mine would be redemptive for many groups, including Rio.


        There is no timetable. Once an agreement is reached with the landowners, a feasibility study is approved and finance is in place, it will take a further two to three years to get mining under way again. The lengthiest part of that process would be the lead-time needed to order the huge trucks and other equipment to operate the mine.


        Taylor says BCL will facilitate landowners' meetings and help ensure the reconciliation process goes ahead, "but we're mindful that we should not be seen to influence the proceedings.


        "Everything needs to be worked out as the agreement is renegotiated -- including environmental issues such as tailings disposal, revenue sharing, ownership. And the landowners need to be resourced to participate effectively."


        This is in marked contrast with the first incarnation of the mine, when the company was not permitted by the Australian government to negotiate directly with landowners.


        "The situation is quite the reverse this time," Taylor says. "The landowners are setting the agenda, although everyone will put their wish-lists on the table."


        He wants to see the landowners obtain equity in the project because it makes them "part of your business" and gives them a share of the income stream.


        "The balance needs to change in favour of those who are giving up the most, and they are the landowners. To make the project successful and saleable, they have to be part of the company."


        Raising the $3bn will be a relatively minor challenge.


        Three big selling points of the project are that it already has a port at Loloho, an access road winding up 30km of rugged terrain, and has pre-stripped ore ready to extract, with 200 million tonnes available immediately.


        "They give us a big leg-up," Taylor says.


        Technology has improved since the mine was suspended, he says, and tailings can be safely stored even in an earthquake-prone area. "The landowners have to say which method they prefer," Taylor says. Previously, they were disposed of in the Jaba River, a cause of controversy.


        They will also discuss whether workers fly in and fly out to the island or are based there, as they were before in the largely destroyed town of Arawa. Taylor says that the more local workers can be recruited, the better. "We have received numerous inquiries from ex-employees asking when we are re-opening."


        The Ok Tedi mine would be an obvious source of skilled staff as it starts to scale down as the resource declines.


        The other big factor exciting interest in the reopening of the Panguna pit is the likelihood that it will lead to the end of the moratorium on exploration that began in 1971.


        Seven exploration licences covering 20 per cent of the island are held by BCL, and the potential to find new orebodies near the existing pit are considerable.


        No one else holds any other exploration permits, even though a German-funded aeromagnetic survey 25 years ago revealed many highly prospective zones.


        Through the past 21 years, the principal owner, Rio Tinto, did not close down BCL -- it has remained listed, playing a low-key role, waiting for the climate to change.


        Its share price has soared as the likelihood of a reopening dawned on investors. They were rallied by Axel Sturm, the energetic German president of the European shareholders of Bougainville Copper. The company has even made a profit most years, from placing its remaining cash in Australian listed investment companies.


        Taylor says that since the mine closed, the BCL Foundation has continued to fund 100 scholarships a year.


        In a US court case, Bougainvilleans have claimed damages from Rio over the operation of the mine. This has become a test case for the extent of American jurisdiction, but no decision is likely until after the mine has reopened.


        Former Bougainville Revolutionary Army "general" Ishmael Toroama insists that all the demands made by Bougainvilleans during the fighting must be met: "Panguna -- after the war -- now belongs to all Bougainvilleans," he says, insisting that the original claims for environmental compensation remain extant.


        But the recently elected Bougainville government, and the Panguna Land Owners Association, have begun intense discussions.


        No one is publicly discussing timetables yet. But in the minds of most of the stakeholders, the countdown has already begun.

    • Offizieller Beitrag

    Heute mit einem fulminanten Anstieg und hohem Umsatz (364 k) in ASX:


    2,07 A$ + 22,4 %


    casapustalemgo --oder... -- wird uns sicher bald die Gründe berichten.


    Grüsse

    Beim nächsten JSB Meeting voraussichtlich Ende Jan/Anfang Feb (eine offizielle Bestätigung des Termins steht noch aus) sollte dann das Mining Moratorium aufgehoben sowie die 19,4% BCL Shares und die "Miningpower" an Bougainville übertragen werden.


    Gleichzeitig soll der Beginn der BCA Review bekannt gegeben werden.


    BIGBOCBANG ante portas ;-))))))))))))))))

    http://www.faz.net/f30/common/…ainville&x=1&y=9&allchk=1


    Das Drama von Bougainville



    Die Panguna-Mine ist seit 21 Jahren aus politischen Gründen geschlossen. Das könnte sich ändern



    gb. FRANKFURT, 6. Januar. Der Ort: die nördlich von Australien gelegene, 8800 Quadratkilometer große Insel Bougainville, die politisch zu Papua-Neuguinea gehört und knapp 200000 Einwohner zählt. Die Zeit: Mitte Mai 1989. Das Unternehmen Bougainville Copper sieht sich gezwungen, die von ihm betriebene Panguna-Mine zu schließen. Der Grund ist ein auf Bougainville ausgebrochener Bürgerkrieg. Aufständische, die für die staatliche Unabhängigkeit der Insel eintreten, stören den Betrieb der Mine, die ihnen unter anderem wegen extremer Umweltverschmutzung und ihres ausländischen Großaktionärs unwillkommen ist.








    Seit gut zwei Jahrzehnten wird in der Panguna-Mine nun nicht mehr gearbeitet. Die teure Infrastruktur ist verrottet oder zerstört. Dabei zählte Panguna in den Jahren 1972 bis 1989, in denen sie in Betrieb war, zu den größten kombinierten Kupfer- und Goldminen in der Welt. In der Weltrangliste der größten Minen befände sie sich heute zwar nicht mehr auf einem vorderen Platz. Aber die auf 3 bis 3,5 Millionen Tonnen Kupfer und knapp 13 Millionen Unzen Gold geschätzten Reserven wären auf der Basis der aktuellen Rohstoffpreise rund 50 Milliarden Dollar wert. Die jährliche Förderkapazität wird auf 170000 Tonnen Kupfer und 500000 Unzen Gold geschätzt. Selbst wenn keine zusätzlichen Reserven entdeckt würden, ließe sich die Mine auf der Basis der aktuellen Reservenschätzung rund 20 Jahre betreiben.


    Die alte Betreibergesellschaft Bougainville Copper existiert immer noch. Ihre Aktie wird in Australien und in Deutschland gehandelt. Wer hier einsteigt, baut auf eine Wiedereröffnung der Panguna-Mine. Es handelt sich somit um ein extrem spekulatives Papier mit der Gefahr starker Kursschwankungen, da das Unternehmen derzeit nichts produziert, sondern nur ein geringes Restvermögen verwaltet und der Börsenwert überwiegend von der Hoffnung lebt. Das Kapital von Bougainville Copper befindet sich zu 54 Prozent im Besitz des Rohstoffriesen Rio Tinto. 19 Prozent hält die Regierung von Papua-Neuguinea. Die verbleibenden 27 Prozent gehören Privatanlegern, darunter nicht wenigen Bewohnern Bougainvilles. Der aktuelle Börsenwert des Unternehmens beträgt 645 Millionen Euro.


    Die Panguna-Mine war für die Wirtschaft Papua-Neuguineas einmal sehr wichtig. Nach ihrer Schließung gingen die Staatseinnahmen um immerhin 20 Prozent zurück. Ein Grund des Bürgerkriegs bestand in der Praxis der Zentralregierung Papua-Neuguineas, die von Bougainville Copper seinerzeit ausgeschütteten Dividenden nur zu einem sehr geringen Teil nach Bougainville umzuleiten.


    Spekulationen über eine Wiedereröffnung von Panguna hat es in früheren Jahren mehrfach gegeben. Diese Spekulationen sind daher mit Vorsicht zu genießen. Seit einigen Wochen sieht es nun so aus, als sollte ein neuer Vorstoß beginnen, begünstigt durch den Rohstoffhunger Chinas und die Erkenntnis der Politik auf Bougainville, dass ein Minenbetrieb die wohl einzige Möglichkeit für die bitter arme Insel darstellt, nennenswerte Einnahmen zu verbuchen. Zudem sind die alten Bürgerkriegskämpfer entweder nicht mehr am Leben oder müde geworden. Bougainville besitzt heute den Status einer autonomen Region innerhalb Papua-Neuguineas. Die Bevölkerung kann bis zum Jahr 2015 in einer Volksabstimmung über eine vollständige Unabhängigkeit entscheiden.


    Vorbedingung für eine Wiederaufnahme der Förderung ist jedoch eine vertragliche Vereinbarung, der auch die bis vor kurzem ablehnenden Landeigentümer rund um die Mine zustimmen müssten. John Momis, der Präsident von Bougainville, sagt: "Wir wollen Panguna wieder eröffnen und reden darüber mit den Landeigentümern." Der Vorstandschef von Bougainville Copper, Peter Taylor, meint: "Der Schlüssel befindet sich bei den Landeigentümern."


    Ende November 2010 haben sich die in sechs Gruppen zusammengeschlossenen Landeigentümer darauf geeinigt, sich an Verhandlungen über eine Wiederbelebung von Panguna zu beteiligen. Diese Gespräche könnten Ende Januar beginnen. Um das Projekt voranzubringen, erwägt die Regierung von PapuaNeuguinea, ihren Anteil von 19 Prozent an Bougainville Copper an die autonome Regierung in Bougainville und die Landeigentümer zu übertragen. Der Ausgang der Gespräche über ein neues Förderabkommen muss derzeit als offen gelten, zumal abzuwarten bleibt, welche Forderungen die Landeigentümer stellen werden.


    Auch hat sich Rio Tinto noch nicht erklärt. Zeitungsberichte, wonach sich Rio Tinto hinter verschlossenen Türen um eine 21 Jahre währende Förderlizenz bemühe, wurden bislang nicht bestätigt. Momis berichtete nach einer Reise nach Peking von chinesischem Interesse an der Mine, allerdings scheint es, als bevorzugten die Landeigentümer Rio Tinto als Hauptaktionär. Die Entwicklung des Aktienkurses von Bougainville Copper in den vergangenen Wochen zeigt eine wachsende Hoffnung von Privatanlegern auf einen glücklichen Ausgang der Gespräche. Hin und wieder werden von interessierter Seite auch astronomische Kursziele für die Aktie genannt.


    Getrieben wird diese Spekulation natürlich von den in der Mine vermuteten Reserven. Bislang wurden die Rohstoffe ausschließlich im Tagebau abgebaut. Bei einer Wiederaufnahme der Produktion könnte auch ein ergänzender Untertagebau mit modernsten Verfahren erwogen werden. Zudem gehört Bougainville Copper auch noch Land außerhalb der Mine, unter dem sich eventuell ebenfalls Rohstoffe befinden. Der Grundbesitz beläuft sich auf 57000 Hektar Land; zuzüglich besitzt das Unternehmen noch sechs weitere Explorationslizenzen auf der Insel. Insofern ist Bougainville Copper zweifellos ein potentiell reiches Unternehmen.


    Neben der Aktivseite existiert allerdings auch eine Passivseite. Die Kosten einer Wiederaufnahme der Produktion werden auf 3 bis 4 Milliarden Dollar geschätzt. Im Falle einer - vollständigen oder teilweisen - Finanzierung durch eine Kapitalerhöhung käme es daher zu einer massiven Verwässerung des Aktienkapitals. Zudem könnte die Mine frühestens im Jahr 2012 in Betrieb gehen. Bis dahin wird sich allerdings auch das Angebot an Kupfer aus anderen neuen Quellen erhöhen, so dass eine Fortsetzung der Hausse des Kupferpreises nicht selbstverständlich erscheint. Schließlich bleibt auch die Stabilität der politischen Lage in Bougainville zu hinterfragen. Nach Statistiken ist die Korruption dort sehr hoch.



    Text: F.A.Z., 07.01.2011, Nr. 5 / Seite 23

    Die BCA Review,Übertragung der BCL Shares u. der Miningpower ans ABG,das Lifting des Miningmoratoriums durch PNG soll beim nächsten JSB Meeting (voraussichtlich am letzten Januar WE erfolgen.(der Termin ist allerdings noch nicht offiziell)


    Der Start der BCA Review bedeutet gleichzeitig dass ab dann die Wiedereröffnung aktiv vorangetrieben wird.


    Dann sollten Kurse um 3-3,50 AUD erreicht werden können. ;-)))))))


    PS: Die aufteilung des 100 Mill. Freefloat zwischen AU u. D beträgt ca. 20:80 das Angebot in AU ist also begrenzt.


    Da es bei BOC keine Optionen gibt u. das Management keine Aktien hält, welche bei grossen Kurssteigerungen bei den diversen Explorerklitschen abgeladen werden, könnte der Up-Move auch noch höher gehen,unter den weltgrössten Kupfer- u. Goldminen liegt BOC so ca. auf Platz 10

    ANALYSIS: Minefield at PNG copper mine


    http://www.tradingmarkets.com/…-copper-mine-1418524.html


    Posted on: Wed, 12 Jan 2011 09:02:41 EST
    Symbols: BOCOF


    SINGAPORE, Jan 12, 2011 (The Straits Times - McClatchy-Tribune Information Services via COMTEX) --
    Will Rio Tinto, the major investor in one of the world's richest copper mines, get it right this time? Spiralling global copper prices are prompting investors to consider reopening a controversial copper mine on Papua New Guinea's (PNG) Bougainville Island that triggered almost a decade of civil war in the 1990s.


    The closure of the Panguna copper mine run by Rio Tinto subsidiary Bougainville Copper Ltd (BCL) in 1989 led to important changes in the way large mining companies deal with host communities all over the world. Current moves to reopen it are therefore likely to be closely watched.


    Located off the west coast of PNG, Bougainville Island is rich in copper and gold. It is also geographically and ethnically distinct from the rest of the country, a factor that has long encouraged secessionist sentiment.


    Disputes over the mine date from the late 1960s. At the time, Australian colonial officials actively encouraged Rio Tinto's endeavour, believing the mine would become an important source of revenue for the soon-to-be-independent nation. In this at least, it had some success. From 1972 to 1989, the mine contributed about 44 per cent of PNG's exports and about 17 per cent of the government's revenue. Bougainvilleans also enjoyed the highest living standard in the country.


    But the mine had been built in the face of strong landowner opposition. Tensions simmered throughout the 1970s as women -- through whom land in much of Bougainville is inherited -- lay down in front of bulldozers. Widespread violence erupted in 1988, forcing the mine to close the following year.


    By 1990, the situation had deteriorated into a full-scale civil war. Hostilities ended with a truce in 1997 and a peace agreement in 2001. Under current arrangements, the government in Bougainville is responsible for all activities except defence and foreign affairs. A referendum on independence is scheduled for some time between 2015 and 2020. The mine remains closed.


    But with the global copper price now four times higher than what it was in the late 1980s, the pressure to reopen the mine is growing. Along with BCL's shareholders, company chairman John Taylor agrees. But his cautious tone and reluctance to provide a timetable reflect the company's bitter experience.


    "We must ensure the landowners retain No. 1 importance," he said. "And the Bougainville government's support is also critical," he told the Australian media last month. Mr Taylor also acknowledges the fact that everything will need to be renegotiated, including issues such as ownership, the employment of local people and tailings disposal.


    Bougainville's new president, Mr John Momis, elected for five years in June, also wants the mine opened. But he may impose tough conditions on the company. Campaigning during the PNG elections in 1987, he demanded that BCL hand over 3 per cent of its gross income to the Bougainville provincial government. BCL's subsequent refusal contributed significantly to the tensions that triggered the civil war.


    Several disagreements among Bougainvilleans regarding the conditions under which they would accept the mine's reopening also need to be resolved.


    Some activists have been insisting that all demands made by the rebels during the fighting, including those involving environmental compensation, must be met before the mine is opened.


    On balance, however, the outlook seems hopeful. Apart from the current focus on the concerns of landowners, technological developments now allow tailings to be stored more safely. Previously, they were dumped in the Jaba River, a practice that triggered considerable controversy.


    The World Bank is also funding a programme to help the Bougainville government develop the necessary regulatory environment.


    Meanwhile, with the nation's attention focused elsewhere, there is less likelihood that politicians in the capital would attempt to interfere. Economic planners are currently preoccupied with a huge multi-billion-dollar ExxonMobil project to pipe natural gas from the Southern Highlands to Port Moresby for export to Asia.


    All that remains is to raise the estimated US$3 billion that reopening the mine is expected to cost. That should not be too difficult.


    Resource-hungry China is widely believed to be interested. And anyone seriously considering reopening the mine would surely be aware that the project already has access to a port via a 30km access road. There is also a reported 200 million tonnes of pre-stripped ore ready for extraction.


    Reopening the mine would also help cement investor confidence in the rest of the PNG economy, which is already on the cusp of a resources boom as a result of other mining-related projects. Last year the PNG economy grew by 6 per cent. It is expected to expand by another 8 per cent this year.


    For BCL, however, the Bougainville landowners remain key. Nothing will happen, Mr Taylor told Australian radio last month, "until they say to BCL, as a united group, 'We want the mine and we want you to run it'".


    It is hard to disagree with that.

    http://www.bougainville-copper.eu/news-january-2011.html


    16.01.2011
    Source: Goldschmiede Zeitung



    Papua Neuguinea


    Hoffnung auf Wiederaufnahme der Arbeit in der Panguna-Mine
    von Peter Henselder



    Frankfurt/M. – Die nördlich von Australien gelegene, 8800 Quadratkilometer große Insel Bougainville, die politisch zu Papua Neuguinea gehört und rund 200 000 Einwohner hat, musste die hier befindliche Panguna-Mine seit 21 Jahren aus politischen Gründen geschlossen halten.


    In den Jahren 1972 bis 1989 zählte sie zu den größten kombinierten Kupfer- und Goldminen der Welt. Die noch nicht geförderten Reserven von 3 bis 3,5 Millionen Tonnen Kupfer und knapp 13 Millionen Unzen Gold sind auf Basis der aktuellen Rohstoffpreise rund 50 Mrd. US-Dollar wert. Die jährliche Förderkapazität wird auf 170 000 Tonnen Kupfer und 500 000 Unzen Gold geschätzt. Auf Basis dieser Annahmen könnte die Mine noch rund 20 Jahre betrieben werden. Ende 2010 haben sich die in sechs Gruppen zusammen geschlossenen Landeigentümer nun darauf geeinigt, die Verhandlungen über eine Wiederbelebung von Panguna voranzutreiben. Ende Januar sollen die Gespräche beginnen. Getrieben werden sie von Spekulationen über noch nicht bekannte, in der Mine vermutete Reserven. Bislang wurde hier ausschließlich im Tagebau gearbeitet. Bei einer Wiederaufnahme der Produktion könnte auch eine ergänzende Untertageerschließung mit Hilfe modernster Verfahren zum Zuge kommen. Auch gehört zur Mine noch Land außerhalb der bis jetzt erschlossenen Vorkommen, in dem sich ebenfalls Rohstoffe finden lassen dürften.

    Sam Akoitai,als Ex PNG Miningminister u. EX BCL Mitarbeiter setzt sich also nun persönlich für die BCA Review ein.Nachdem die 6 Landeignervertretungen nun offiziell registriert sind wird nun ihr Druck auf ABG u. MRA steigen die Wahl ihres "Umbrella Bodys" schnellstens abzuhalten. ;-))))))))


    20.01.2011
    Source: Post-Courier



    BCL agreement needs to be reviewed: Akoitai
    By MOHAMMAD BASHIR



    Only when the Bougainville Copper Agreement is reviewed to include parties like the Autonomous Bougainville Government (ABG) and landowners and a better understanding with the developer on benefits and addressing outstanding issues can the mine be re-opened successfully.
    Regardless of the hype among shareholders and people sparked by Prime Minister Sir Michael Somare’s intention to see the mine opened, it will never happen until all parties are involved.
    Former Mining Minister Sam Akoitai believes BCL, the National Government and the ABG, must assist the landowners to establish landowner associations to participate in the mine. Reports from Buka yesterday indicate that six landowner groups have already registered their associations.
    “Landowners are willing to open the mine but the Bougainville Copper Agreement must be reviewed to involve all parties because that is the issue that sparked the Bougainville crisis,” Mr Akoitai said yesterday, adding he was happy for the stand of ABG president John Momis.
    He said economic recovery was paramount for Bougainville to take it to a stage of physical self reliance before issues of referendum can be discussed.
    “Bougainville is not prepared well for referendum in 2015 because with about K30 million in recurrent expenditure from the national government and less than K10 million in internal revenue, we are nowhere close to physical self reliance and people must rise up to the benchmark,” Mr Akoitai said. He said leaders and the people were relaxed after the ABG but those perception were wrong because recurrent budget will increase from K30m-K50m when Bougainville draws power as capacity will increase.
    “It is time to take the bull by the horns with determination to raise Bougainville to a level of physical self reliance because we have a long way to go,” he said.
    Mr Akoitai also saluted the elders of Bougainville for imposing the moratorium on future explorations although there are more potential mines on the island.
    He said BCL must be on the Government’s radar because during pre-independence up, Bougainville alone kept this country growing into what it is today.

    http://bougainville.typepad.com/newdawn/2011/02/...fter-he-was-o.html


    040211 ABG PRESIDENT RETURN
    By Aloysius Laukai


    ABG President, JOHN MOMIS will return to Bougainville tomorrow after
    He was out of the region for more than a week.


    MR. MOMIS was in Port Moresby to meet the Prime Minister, Chief Somare concerning many pressing issues affecting the region including the THIRTY MILLION KINA still owed to the ABG by the National Government.


    New Dawn FM understands that his trip also paved the way for the Joint Supervisory Board Meeting to start this again this year.


    The meeting was only held once since the inauguration of the second Autonomous Bougainville Government last year.


    The delayed meeting was the reason for the two Bougainville’s Heavies, ABG President JOHN MOMIS and Regional Member FIDELIS SEMOSO to be at loggerheads several times.


    They have since reconciled and hoped to work together again this year.


    The first JSB meeting would be held in Port Moresby this month.


    Dass es davor noch im Beisein der MRA,Momis u. Semoso zu einem grossen Landeigner-Meeting kommen soll,lässt erwarten dass bei diesem JSB Meeting das "Ready to Go" zur BCA Review von allen Parteien gemeinsam kommt.Da hätte Peter Taylor mit seiner Vorhersage "Start BCA Review Ende Februar,Anfang März" wieder mal 100% richtig gelegen.




    Kommt es bei diesem geplanten JSB Meeting zu der von Momis favorisierten "allumfassenden Lösung"


    -Transfert der Miningpower ans ABG
    -Transfert der 19,5% BCL Shares von PNG an Bougainville
    -Aufhebung des Miningmoratoriums
    -Beginn der BCA Review
    -Aufteilung der Steuerquote 50:50 bzw. 60:40


    .............dann hat der Präsident nicht zu hoch gepokert.


    Der Countdown bis zum BIGBOCBANG beträgt dann noch 22 Tage,genug Zeit für Neueinsteiger sich in aller Ruhe zu positionieren. ;-)))))))))))))))

    07.02.2011
    Source: ESBC Research


    On Thursday February 17th, 2011 ABG President John Momis will meet with representatives of the Panguna Landowners in Arawa. This meeting will also be assisted by the National Minister for Bougainville Affairs, Fidelis Semoso, the ABG Minister for Mining, Michael Oni, two National Members of Parliament whose electorates cover the Panguna mine lease areas.




    Link Provided: www.bougainville-copper.eu/newsroom-2011.html</BIG>

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