ALL is not well in Bougainville, or at least some parts of the autonomous region. Our reports of the clashes in the Buin area of southern Bougainville are worrying. Four men shot dead in one clash alone, reports of earlier clashes which sent fear through the villages of the south . . . what next? It could become a general outbreak of crime and terrorism in that part of the region. The military type weapons that had been hidden away for a couple of years are being dragged out of hiding and are being carried openly by young men. Ex-combatants are reported to be working closely with police and scouting for people linked to the Me’ekamui group that was previously under the control of the mysterious Panguna “king’’, Francis Ona. Since Mr Ona’s death a couple of years ago, there have been signs of growing unrest in some areas. Now it is becoming more open. President Joseph Kabui is coming under pressure to do something about the situation. He has been told to “stop pretending that everything is okay’’. Bougainville has been making great strides in the task of returning life to normal. It would be a huge tragedy if the guns are let loose and people start losing their ability to move around freely without fear of harm. If this state of affairs takes root in the south, it could well spread to central and northern Bougainville again. Where evil finds fertile soil, it flourishes. This is why it is important for all Bougainville leaders, not just the president, to act now and to act firmly. Who in the Autonomous Government is talking with the fighters in the south? If so, what is the response? What will it take to get the guns surrendered and people putting their grievances aside in the cause of peace and prosperity? The people of Bougainville want and deserve a better future. Most have welcomed the era of peace and reconciliation and are busily attempting to rebuild their lives. Some of their leaders are travelling to Milne Bay for the next round of talks under the banner of the Joint Supervisory Board, which will see officials and politicians from the National Government and the ABG discussing transfers of powers. President Kabui will need to get back to Bougainville promptly and start sorting out the bushfire of civil disruptions going on in the south or the most ambitious plans for mining, reopening of roads and airports and resumption of life will be worthless
Vom 4-6 Mai finden die Australia Papua New Guinea Business Forum u.Trade Expo in Cairns statt.Als Eröffnungssprecher fungiert u.a. der PNG PM Michael Somare.
Besonders interessant könnte der 14:30 – 15:00 RIO-TINTO MINERALS (PNG) Afternoon tea. werden mit der anschliessenden Session 10
Die Ansichten von Puka Temu,Mining Minister u. Bougainviller sind in dem Interview #925 wiedergegeben.Interessant dass an dieser Gesprächsrunde auch Dr Graeme Hancock, Senior Mining Specialist, Oil, Gas, Mining and Chemicals Dept, der World Bank teilnimmt.Er war federführend bei der Zusage der 10 Mios zum Training der Boug MRA.
Sollte Kabui u. Tom Albanese dort noch als Visitors auftauchen ..... ;-)))))))
15:00 SESSION 10: OPPORTUNITIES IN THE PAPUA NEW GUINEA RESOURCES SECTOR
• The Hon Puka Temu, Deputy Prime Minister and Minister for Land and Mining, Papua New Guinea. ST to arrange invitation. • The Hon William Duma MP, Minister for Petroleum and Energy, Papua New Guinea. ST to arrange invitation. • Dr Graeme Hancock, Senior Mining Specialist, Oil, Gas, Mining and Chemicals Dept, World Bank. Invitation sent. Panel Discussion 16:00 DAY TWO AND CONCLUDING SUMMARY BY CONFERENCE RAPPORTEUR AND CLOSING COMMUNIQUE. 16:10 CLOSING COMMENTS: Mr Henry Kila, President, Business Council of Papua New Guinea. 16:30 JOHN DAVIDSON ASSOCIATES Delegates’ Farewell Drinks.
I don’t believe it is necessary for the ABG to draw down mining powers before either exploration or mine development can take place within the company’s tenements. This is because the BCA already makes provision for such activity. With the commitment of landowners, the ABG and National Government progress towards reopening the mine can move forward and result in much needed economic development for Bougainville and PNG. The current economic cycle for the minerals industry presents an opportunity for the parties to benefit considerably. BCL has signalled its willingness to be involved but needs the support of landowners and governments.
Interessant auch dass die 20 Major Shareholder eher noch aufgestockt haben.
wohl erheblich über den berechneten 30 Mia USD liegen.
....It has been possible to apply new software and techniques to BCL’s old data and reproduce it in a form that places BCL years ahead of any other potential developer without access to this very important data set. It is also possible that grades once designated as waste can be economically processed and thus prolong the life of the mine and substantially increase its output.
nicht zu vergessen dass BOC noch 7 zusätzliche Lizenzen besitzt ;-))))
During the year, more work was undertaken on preparing for the possible lifting of the moratorium on new exploration and mining. Targets are in the process of being identified within the company licences. There is no shortage of parties willing to participate in an exploration program with BCL. Work is also being undertaken to ensure the extensive mine database the company has is up to date and able to be utilised quickly and effectively if a resumption of mining is agreed.
Twenty largest shareholders The twenty largest shareholders as at 19th February 2008 and the number of shares held by each were: Name and Registered Address % of Issued Shares Shares 1. Rio Tinto Limited Melbourne VIC 214,887,966 53.58 2. The Independent State of Papua New Guinea 76,430,809 19.06 3. ANZ Nominees Limited Melbourne VIC 32,789,966 8.18 4. Citicorp Nominees Pty Limited Melbourne VIC 30,886,890 7.70 5. National Nominees Limited Melbourne VIC 8,945,294 2.23 6. HSBC Custody Nominees (Australia) Limited Sydney NSW 7,426,049 1.85 7. J P Morgan Nominees Australia Limited Sydney NSW 2,033,338 0.51 8. Franz Heinrich Rast Bulli NSW 1,657,440 0.41 9. James West Auckland New Zealand 1,529,511 0.38 10.Merrill Lynch (Australia) Nominees Pty Limited Melbourne VIC 1,235,383 0.31 11.Bell Potter Nominees Pty Limited Melbourne VIC 900,000 0.22 12.Mrs Francis Claire Fox Wheelers Hill VIC 771,765 0.19 13.The Noble Hope for Construction Pty Ltd Condell Park NSW 700,000 0.17 14.Deep Investments Pty Limited Pymble NSW 629,343 0.16 15.Estate late Mr Donald Ranaweera MBE Colombo Sri Lanka 625,000 0.16 16.Mr Anthony Patrick Cahill Ascot Vale VIC 470,130 0.12 17.Deep Valley Pty Limited Virginia QLD 377,000 0.09 18.Customer Company INC London United Kingdom 281,968 0.07 19.Mr Daniel Ronald Watson Glenside SA 250,000 0.06 20.Mr Lewis Haswell Finey Fairy Meadow NSW 240,446 0.06 Summe 383,068,298 95.51
What some criticized as a pipe dream, when my report came out back in December, is now getting official confirmation.
A key argument in my 92-page report was, that by reprocessing the old mine tailings, Bougainville Copper (BCL) has an opportunity to turn a problem into an opportunity. What was once considered waste material, can now be used to produce copper and gold.
I also predicted that new technology will have a role in reviving this dormant mine.
In its latest annual report, the company's management states:
"It has been possible to apply new software and techniques to BCL's old data and reproduce it in a form that places BCL years ahead of any other potential developer without access to this very important data set. It is also possible that grades once designated as waste can be economically processed and thus prolong the life of the mine and substantially increase its output."
Please click on this link to read the more extensive version of the outlook that is given in the annual report.
This report came out today after the Australian market closed, which is why the share price has not yet had a chance to react to it.
Personally, I can't wait attending the annual shareholders meeting of Bougainville Copper. My flight to Port Moresby in Papua New Guinea is already booked. The meeting will happen on May 8th at 2pm.
Not being a mining expert, I can't possibly make a call on every single detail concerning the restarting of the dormant mine. However, there can now be little doubt that new technology will play a crucial role in getting the Panguna mine back to life. Also, there is growing consensus in Bougainville that without the mine reopening, this island may never be able to get back onto its feet.
With even the management giving off an optimistic message, it now seems certain that 2008 will produce plenty of good news for Bougainville Copper.
Share this with someone: If you want your friends and colleagues to become aware of my reports, please simply forward them this email.
Note: In case you did not request this information, or have any technical questions, please let us know at support@undervalued-shares.com, where we will deal with your request promptly.
The Undervalued-Shares team has never sold and will never sell, rent or otherwise share your information with any other party. Your email address is used solely to send you a short update/alert when new content is available on Undervalued-Shares.com.
ABG president Joseph Kabui said last night that his government is very happy with the outcome of the one-day joint supervisory board (JSB) meeting in Alotau, Milne Bay province. Mr Kabui said both the National Government and ABG signed an understanding on the transfer of mining, oil and gas functions to the ABG last night at the Masurina Lodge. Mr Kabui said it has been three years since the Bougainville Peace Agreement was signed, however, progress has been slow. He said the issue of ownership of the resources was the most contentious at the Alotau meeting where the Government had sidelined the issue until Bougainville holds a referendum. The ABG side has been pushing for ownership of resources since the last meeting. Mr Kabui said the signing now means that the ownership issue will be kept alive in constant discussions and not deferred. “The MOU will bind the National Government and ABG to cooperate and implement the Bougainville agreement,” Mr Kabui said. In relation to the National Government’s concern on the weapons disposal programme, Mr Kabui said an action plan is in place which was proposed by the ABG. “The signing of the MOU is a significant way forward. “Often the ABG has argued on the slowness of the implementation process of the Bougainville agreement,” Mr Kabui said. The JSB, however, said it will continue to develop a mutually acceptable agreement based on the careful identification and assessment of all relevant implications in the ownership of minerals, oil and gas and distribution of benefits derived from these resources. The two parties - the National Government led by Deputy Prime Minister Dr Puka Temu and ABG led by Mr Kabui - also agreed that ABG will follow the Government’s proposal in appointing a chief administrator for Bougainville. “The officials will meet to resolve the question of what authority has the power to make the appointment and must meet next month,” the resolution read. The parties have further resolved that it is not appropriate to change the distribution of GST from the National Government to ABG from 30 per cent to 60 per cent without considering broader financial arrangements. It resolved that all references to value added tax in relevant legislation and the Bougainville Peace Agreement are to be read as goods and services tax (GST). In relation to Government grants to the ABG, the requirements of the Organic Law on peace building in Bougainville, which reflect the terms of the Bougainville Peace Agreement, have been fully implemented by the National Government. Furthermore, the JSB had agreed that officials will continue to develop a joint media and awareness strategy with the aim of ensuring the coordination and consistency of communication in relation to the work of the JSB and the agreed arrangements for the drawdown of functions and powers. The two parties have also resolved that officials will meet to identify ways in which the two governments will cooperate to support the Bougainville weapons disposal action plan. The next JSB meeting will be held in June in Manus.
Das aktuelle Jahr Meine ursprüngliche Hoffnung, dass es schon im Laufe des Jahres 2007 zu einer Überprüfung und Neuverhandlung des Bougainville Kupferabkommens kommen würde, erfüllte sich leider nicht. Ich denke jedoch, dass es besser ist, die Dinge ordentlich zu regeln, anstatt mit einer überhasteten Aktion den Erfolg des gesamten Vorhabens zu gefährden. Sowohl die Autonome Regierung Bougainville als auch die Landeigentümer müssen erst einige Hausaufgaben erledigen, bevor sie in der Lage sind, sinnvoll an einem solchen Prozess mitzuwirken. Mit den Fortschritten, die mittlerweile in dieser Hinsicht gemacht wurden, bin ich zufrieden. Nach meiner Einschätzung liegt der Schlüssel für den Erfolg dieser Verhandlungen darin, einen Sachverwalter zu installieren, der die notwendigen Prozesse kompetent vorantreibt. Ich bin optimistisch, dass wir mit dem Bergbau- und Minenministerium Bougainville nunmehr einen solchen Sachverwalter an der Spitze der Entwicklung haben. Die Chancen, die sich aus dem gegenwärtigen Rohstoffboom ergeben, werden naturgemäß nicht unendlich lange offenstehen. Wenn die wichtigsten Interessengruppen einen allseitigen wirtschaftlichen Vorteil aus dem Rohstoffpotential von Bougainville erzielen möchten, müssen schnellstmöglich die hierfür notwendigen Rahmenbedingungen geschaffen werden. Während des abgelaufenen Geschäftsjahres wurden weiteren Vorbereitungsarbeiten durchgeführt, um das Unternehmen auf das denkbare Ende des gegenwärtigen Bergbau- und Explorationsmoratoriums vorzubereiten. Gegenwärtig arbeiten wir daran, konkrete Explorationspotentiale innerhalb der Lizenzgebiete des Unternehmens zu identifizieren. Es gibt etliche potentielle unternehmerische Partner, die Bougainville Copper bereits Unterstützung für die Durchführung eines solchen Explorationsprogramms zugesagt haben. Auch der umfangreiche Datenbestand der Gesellschaft wird gerade aktualisiert. Es soll sichergestellt sein, dass die Datenbank auf dem neuesten Stand ist, um sie schnell und effektiv einsetzen zu können, falls eine Wiederaufnahme des Minenbetriebs vereinbart wird. Die Direktoren sind einer gemeinsamen Vision verpflichtet: „Wiederaufnahme der Explorationsarbeit und Rückkehr zum profitablen Minenbetrieb“, wie in unserem auf drei Jahre ausgelegten strategischen Plan dargelegt. Unsere Vision einer Wiederaufnahme der Explorationsarbeit und einer Rückkehr zum profitablen Minenbetrieb setzt voraus, dass es unter den Einwohnern Bougainvilles zu einer Versöhnung und einem Konsens kommt. Die Tatsache, dass es nach wie vor zu keiner vollständigen Normalisierung des Lebens auf Bougainville gekommen ist, bereitet uns nach wie vor Sorge. Anhaltende Unruhen sowie die unverändert bestehenden Einschränkungen im Hinblick auf den Zugang zu verschiedenen Gebieten der Inseln schränken die Möglichkeiten der neuen Regierung ein. Dadurch wird auch eine Verbesserung des Lebensstandards und die Durchführung von Entwicklungsprojekten behindert. Die Unterstützung, die Bougainville Copper von einer breiten Schicht von Einwohnern in Bougainville und Papua Neuguinea erhält, wenn es um die Wiedereröffnung der Mine geht, ist ermutigend. Dort hat sich die Einsicht durchgesetzt, dass die notwendigen Arbeiten für eine Wiedereröffnung der Mine ein Unterfangen erheblichen Ausmaßes sind. Dieses Unterfangen kann nur von einem Minenkonzern durchgeführt werden, der über Erfahrung und die notwendigen finanziellen Ressourcen verfügt. Aufgrund der Konsolidierungstendenzen in der Minenbranche gibt es immer weniger geeignete Kandidaten für diese Aufgabe. Der Großaktionär von Bougainville Copper, Rio Tinto, hat uns im abgelaufenen Geschäftsjahr aktiv unterstützt. Die gemeinsame Arbeit hat einmal mehr gezeigt, wie wertvoll es ist, Zugang zu den Ressourcen eines solchen Partners zu haben. So konnten wir neue Software und neuartige Untersuchungsmethoden für die erneute Auswertung der alten Datenbestände von Bougainville Copper nutzen. Die so gewonnenen Daten verleihen Bougainville Copper einen Vorsprung von mehreren Jahren, verglichen mit einem theoretischen anderen Explorationsunternehmen, das keinerlei historische Daten über Bougainville besitzt und deshalb bei Null anfangen müsste. Zudem ist es denkbar, dass Erzvorkommen niedriger Qualität – die früher als Abfall betrachtet wurden – auf wirtschaftliche Weise neu ausgebeutet werden können. Auf diese Weise könnte die Gesamtausbeute der Minen vergrößert und das Minenleben verlängert werden.
Übersetzt von Swen Lorenz Quelle: Bougainville Copper Geschäftsbericht 2008
Clanchefs,Ex-Kombattanten,Distriktmanager,die reguläre Polizei u. die Hilfspolizei arbeiten partnerschaftlich zusammen ;-))))))))))))
Facelift enhances relations
By Gorethy Kenneth
THE re-building of the Arawa police station, is having a positive impact on community morale, police in Arawa said. The town itself is being rebuilt following a recent European Union announcement that they had signed an agreement to re-develop the Arawa Market. Bougainville police told the Islands Post from Arawa that the re-building of the police station has had a positive impact on the morale of the community in the progression to a peaceful community with respect for law and order. The police said there had also been a lot of awareness by Central Bougainville police, district managers, chiefs, and ex-combatants in a bid to restore law and order in the district. “For example, in Wakunai, after a lot of awareness by the district manager, the chiefs, the ex-combatants and the police, an operation has been put in place to locate and destroy the home brew distilleries in the area,” police in Arawa said. “In the last few months, Wakunai has progressed very well towards peace. “The chiefs, the ex-combatants, the district manager, the regular police and the auxiliary police, have been working together in partnership to seize home-brew distilleries. “This has been a major contribution to the law and order situation in all parts of Bougainville.” Police said other centres in Bougainville were also developing their police stations.
So duetlich Pro-Mineneröffnung hat sich noch keiner geäußert, oder?
Thomson Financial News
Huge Papua New Guinea copper mine could be reopened, says minister 04.01.08, 3:58 AM ET
SYDNEY (Thomson Financial) - One of the South Pacific's largest copper and gold mines, which was at the center of a decade-long secessionist war, could be reopened, the Papua New Guinea government said on Tuesday.
The huge Panguna mine on PNG's most eastern island, Bougainville, was forced to close in 1989 after continuous attacks by secessionist rebels in a war that cost an estimated 10,000 lives.
As part of a peace agreement, Bougainville was granted autonomy by the PNG government in June 2005, but the island has struggled financially and been plagued by poverty and law and order problems.
For the past 18 months, Bougainville's autonomous government has been seeking to gain control of the island's mining powers and functions from the PNG government.
PNG mining minister Puka Temu said Tuesday he had signed a memorandum of understanding with Bougainville President Joseph Kabui for a 15-step process which will see mining, oil and gas powers handed over to the Bougainville government.
Temu told Agence-France Presse the agreement would see both governments working together to lift the moratorium on mining and reopen the Panguna mine.
'It's got another 15 to 20 mining years left, there's an enormous deposit still there and we have now basically agreed to start bringing the reopening of the Bougainville copper mine to the table,' he said.
Temu, who is also PNG's Deputy Prime Minister, said the national government would retain a stake in future profits from the mine and other resource projects.
Rio Tinto-controlled Bougainville Copper (BOC) owns the mine, which is now covered in tangled vines and rusting equipment.
Estimates by brokers of the cost of reopening the six-kilometer wide pit come in at more than $1.5 billion.
BOC chairman Peter Taylor has said repeatedly that the company is keen to talk to the autonomous and national governments and local landowners, to 'discuss what they want for the future'.
Dazu noch jede Menge positive Artikel in der lokalen Presse ;-))
Die angeforderten Australischen Polizisten sind in Buka eingetroffen.Sie sollen die lokalen Polizeikräfte anleiten u. unterstützen.Auch dadurch wird die lokale Sicherheitslage weiter verbessert.
AFP officers greeted on arrival in Buka. THE people of Bougainville celebrated two important events this week.Yesterday, they played host to members of the Australian Federal Police who arrived in Buka to take up their appointments to work with the local police in an effort to strengthen police work on the ground. See report
Kann mir jemand sagen, wie man an Eintrittskarten für die HV, bzw. eher wie man seine Stimmrechte an ESBC übertragen kann? Meine Depotbank will da nicht aktiv werden und auf der BOC-Homepage finde ich keinen Investor-Relations-Link.
Außer diesen Absatz im Annual Report auf Seite 1 habe ich auch keinen weitere Hinweise gefunden... Notice of Meeting The Annual General Meeting of Bougainville Copper Limited will be held at 2.00 pm on the 8th day of May, 2008 at the Crowne Plaza Hotel, Hunter Street, Port Moresby, Papua New Guinea. A separate Notice of Meeting is enclosed. All shareholders are cordially invited to attend.
Vielen Dank schon mal im Voraus für weiterführende Tipps...
