Bougainville Government gives Rio subsidiary BCL $3 million to return

panguna mine pit

Bougainville Freedom Movement

The ABG (Autonomous Bougainville Government)  have allocated substantial funding (some K7 million) from their own resources, “a large amount given the small size of the ABG budget”, to give to the mining company BCL (not the people of Bougainville) as the first ridiculously pathetic step for BCL (Bougainville Copper Limited) to establish its presence back on Bougainville.

No wonder BCL is so enthusiatic!!! SEVEN MILLION KINA for the red carpet roll out to return to Bougainville!!! We don’t need no education when we see how pathetic and wasteful the current government under the leadership of President Momis has become due to the manipluation of BCL/Rio Tinto mining company and its shareholders.

So, with BCL “anticipating good progress” towards re-opening the Panguna mine, we can only suggest to the people of Bougainville that they protest against their current President John Momis and the ABG to allocate the K7 million (that’s nearly 3 million Australian dollars) from its budget to assist the people of Bougainville NOT the mining company, BCL and Rio Tinto.

Keep your wisdom BOUGAINVILLE!

14 Comments

Filed under Environmental impact, Financial returns, Human rights, Papua New Guinea

14 responses to “Bougainville Government gives Rio subsidiary BCL $3 million to return

  1. Interested to know your source of this report

  2. Going from the report it seems ABG didn’t “give” BCL $3m, but I can’t understand why BCL wasn’t required to ‘chip in’ (so to speak). Perhaps they did and it wasn’t reported. Either way, PNG Mine Watch’s blog headline is misleading and scurrilous.

  3. michaelluakenu

    This is another propaganda story about our President. From my ONE TOUCH PIXI

  4. Ana's Outlook

    Ho hum, another distortion of the truth by a PNG Mine Watch blogger.

  5. Firstly, who is the President of the Australia Papua New Guinea Business Council?
    For those of you who do not know the answer it is Peter Taylor.
    Peter Taylor is also the Managing Director of Rio Tinto (PNG) Limited who is also the chairman of Bougainville Copper Limited (BCL).
    John Momis the current President of the Autonomous Bougainville Government (ABG) gave a speech and presentation at the Australia Papua New Guinea Business Forum in Cairns, Queensland, Australia on May 20, 2014.
    In that speech the current President of Bougainville, John Momis made it clear he had been working closely with BCL “as the first step towards BCL establishing a presence on Bougainville” – obviously to re-open the Panguna mine. He then stated, “Through the ABG budget we have allocated substantial funding (some K7 million) to these preparations from our own resources, a large amount given the small size of the ABG budget”.
    One comment that the Bougainville Freedom Movement recently received states: “I don’t understand why BCL hasn’t contributed significantly towards this event, as I’ve always understood that both parties to a reconciliation contribute”.
    Why? Because BCL and Rio Tinto mining company are the ones that are misleading and scurrilous.
    Also, please remember that the company has estimated that it will cost about K11 million to start-up the mine and it will take about six years to start production.
    So, with the extra K7 million from the ABG budget looks like the corporate thugs headed by Peter Taylor are on a good wicket.

  6. K11 million to restart the mine? K11 billion would be more like it. Actually, US$6 billion was reported on this site in January.

  7. Ana's Outlook

    Whoa! Another whopper by BFM – “K11 million to start-up the mine”! What a joke! At that price, any Tom, Dick or Harry could reopen Panguna. I could even put in an application myself. But I won’t, because I don’t have the K16 BILLION or so that I would really need. Sort of makes the comparison with the K7m look absurd, doesn’t it?
    Whoever writes these disjointed and uninformed blogs on behalf of the BFM, which was once a respectable organization doing a fine job to defend Bougainville, should be sacked post-haste. Surely not you again VJ?

    • If you read the Islands Business International website it states that it will cost “K11 million to start-up the mine”.
      They pubshlised the article from the Postcourier (News, Tue 09 Apr 2013)

      “Islands Business, 10 April, 2013
      Bougainville Copper Limited set to re-open Panguna mine
      http://www.islandsbusiness.com/news/papua-new-guinea/821/bougainville-copper-limited-set-to-re-open-panguna/

      BUKA, Bougainville — Bougainville Copper Limited (BCL) announced yesterday that it is ready to re-open the Panguna mine in Bougainville at its annual general meeting (AGM).

      The company has estimated that it will cost about K11 million ($US5.2 million)to start-up the mine and it will take about six years to start production.

      According to chairman, Peter Taylor, BCL conducted an Order of Magnitude Study (OMS) last year and the key findings revealed that the project is economically viable, based on key assumptions of mining up to 100 million tonnes of copper per year and processing up to 60 million tonnes of ore per year.

      “The capital cost is high at $US5.2 million (K11 million) and it has been assumed that most mine site facilities will need to be replaced,” Taylor said in his opening statement.”

      So, who should be sacked post haste for the whopper???

      • YOU should be sacked post-haste VJ! Why? After two weeks of your best research, all you’ve come up with is proof of an error in your sources. WB (10 Mar) pointed out to you that the figure you used probably should be billions, not millions. But you ignored that, intent on proving your absurd position! That’s so not very bright, darling.

        Here, check this out (taken from BCL’s annual report 2014 as supplied to the ASX 23 Mar 2015):
        “The 2012 Order of Magnitude Study is based on many
        assumptions including commodity prices, market
        demand, investor risk, opportunity costs, security of
        tenure and others. In brief it describes a new mine at
        Panguna processing between 60 million and 90 million
        tonnes of ore per annum, over a mine life of 24 years,
        with a capital cost of US$5.2 billion.”

        Vikki, go see a doctor. I suspect you’ve contracted your PM’s foot-and-mouth disease!

  8. Come on Ana, it was just a typo (I think), but it did ruin the argument somewhat. As for BCL/Rio being “misleading and scurrilous”, that doesn’t really explain why they weren’t required to contribute. As I suggested earlier, we often don’t get the whole story.

  9. Ana's Outlook

    Warwick, it’s hardly a typo when the blogger (sounds like typical VJ claptrap) implies that ABG’s K7m has contributed significantly towards the mine reopening cost of K11m. This is the normal drivel we get from this writer. I don’t deny that K7m is a large expense for ABG, but the BFM blog misuses the numbers and falsifies the nature of the contribution by ABG. A bit of honesty by BFM would be refreshing.

  10. Fact – ABG contributes 7 million kina towards the mine re-opening.
    Thanks for agreeing.
    And Warwick, could you please reveal who Cat Man who pretends he is “Ana’s Outlook” behind the cute pussy photo?
    No other comments will be stated until Cat Man reveals his identity.

  11. Anonymous BFM writer, it’s not my place to identify other writers, even if I knew. I notice that many comments on this site are anonymous. Perhaps that’s not a bad idea, as to some extent it protects them against abuse. Personally, I think it’s always more effective to respond to the statements than to shoot the contributor.

  12. Cat Man

    More nonsense from VJ. No one ever denied that the ABG contributed K7m towards the reconciliation process. That was clearly reported. What was questioned was that the ABG gave BCL $3m. Back to school luv.

    Hurrah, no more comments from VJ. Well, I guess you could say I’ve revealed my identity now. Yeah, you guessed it Vikki – I’m the Cat Man. Meow!

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