ABG will be financially self-reliant if mine reopens: MP

Post Courier | October 11, 2017

The re-opening of the Panguna mine will ensure the Autonomous Region of Bougainville is financially self-reliant and able to adequately support its economy as it transits to eventual referendum.
This is according to Member for Kokoda constituency Rodney Osioco.
“The Bougainville Government (ABG) currently relies heavily on the K20 million annual grant from the national government which is insufficient to fund service delivery and developments in the region,” Mr Osioco said,
“The ABG is also owed millions in outstanding grants which the national government is obligated to provide under the Bougainville peace agreement.”
This was made known to the community government and ward representatives from the North Nasioi constituency of Kieta district during an awareness program conducted in Arawa last week by members of the House of Representatives from Central Bougainville.
Acting as the Central Bougainville leaders political bloc, the group led by Mr Osioco, is currently conducting awareness on issues surrounding the re-opening of the mine.
Mr Osioco said the revenue generated from the re-opening of the mine would be the catalyst that would boost other sectors like agriculture and tourism and prop up the economy of Bougainville if it is granted independence.
“As the referendum nears, we as your leaders, have come to create awareness and seek your views on the re-opening of the mine.
“We would like to outline to you that agriculture, tourism and other industries alone cannot support the Bougainville economy and that is why we need to re-open Panguna,” Mr Osioco said.
He said Bougainville Copper Limited was the preferred operator of the mine if it was re-opened and that the company would still be held liable for compensation and other issues which arose before the crisis.
He said the ABG was now the major shareholder of BCL owning 53.8 per cent of which 17.4 per cent belong to the landowners. The Papua New Guinea Government owns 19 per cent of BCL.
“The ABG became the major shareholder after Rio Tinto offloaded its 36 per cent stake in BCL to the ABG,” Mr Osioco said.

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3 Comments

Filed under Financial returns, Papua New Guinea

3 responses to “ABG will be financially self-reliant if mine reopens: MP

  1. Mr. Osioco I can probably forgive you for being so naive and sentimental. Where and when is this extractive industry madness going to end. Your little baby government cannot even account for funding it gets from National Government which ends up in your private accounts as we are being told. Is this how you are going to manage the millions you get from mining and pay tit bits to the landowners who to this day have never been compensated adequately for loss of everything from environment, rivers, and land which is the source of their livelihood?

    We are fed up with ABG preaching that agriculture, tourism is not enough to run the economy of Bougainville. Coming from a government that is wasteful with buying fleets and of cars and staying at expensive hotels, I find this hard to believe.

    I wonder how much these politicians carrying out awareness are being paid? Isn’t this work suppose to be given to others to do? Maski giaman nabaut kisim allowance na mekim awareness.

    The introduction of mining into our midst is causing so much confusion and division among the people who should be united to vote in the forth coming referendum. ABG’s push for mining with BCL at it’s helm is now being challenged by another player RTG which supposedly has the cash and elaborate plans to deal with issues ahead. I don’t support mining in any form or shape because already these companies are sprinkling cash this way and that. This is where corruption takes root if is not already eating away at ABG.

    Opposition to Mining is mounting and I think it is time Hon. Osioco and his colleagues started to look at alternatives otherwise we are going to face another catastrophe at the hands of mining companies.

  2. It seems the Member for the Kokoda consitutency Rodney Osioco is being possibly “brain washed” by the mining company Bougainville Copper Ltd (BCL) and certainly way out of line, uncouth and uneducated.
    He said the “ABG was now the major shareholder of BCL owning 53.8 per cent of which 17.4 per cent belong to the landowners. The Papua New Guinea Government owns 19 per cent of BCL”. WRONG.
    Mr Osioco also said, “The ABG became the major shareholder after Rio Tinto offloaded its 36 per cent stake in BCL to the ABG”. WRONG.
    This is incorrect yet Rodney Osioco who is Acting as the Central Bougainville leaders political bloc, (the group led by Mr Osioco), is currently conducting awareness on issues surrounding the re-opening of the Panguna mine.
    Rio Tinto off loaded their worthless shares equally to the ABG and PNG so that both hold an equal share in BCL of 36.4 per cent.
    Is the President of Bougainville John Momis aware that his Member for the Kokoda constituency is currently way out of line?

  3. Pingback: ABG claims of financial independence if mine reopens ridiculed | Papua New Guinea Mine Watch

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