Tag Archives: Landowners

Niuminco moves to 100% ownership of Edie Creek mine

More foreign companies trading PNG resources as if PNG laws and landowners didn’t exist

PNG Resources | August 07, 2017

ASX-listed Niuminco Group Limited is now the 100% owner of the historic Edie Creek gold mine in PNG after completing an agreement to purchase the final 17% interest it did not hold.
The company has acquired the 17% interest in the in the Edie Creek mining leases held by former Joint Venture partner Mincor Resources NL’s subsidiary Mincor PNG Limited (to be renamed Niuminco EC Limited) by purchasing the ordinary shares in that company.
The purchasing company is one of Niuminco’s PNG subsidiaries, Niuminco Edie Creek Limited.
The purchase price of $150,000 is payable two years from the completion date in cash or shares (at Niuminco’s election), or earlier should Niuminco sell the leases to a third party.
Should Niuminco choose to pay in shares, the share price will be the 30 day VWAP for the 30 trading days immediately preceding the date of the notice of election by Niuminco.


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Filed under Financial returns, Papua New Guinea

Rio Tinto’s window opens for Bougainville Copper exit

burnt out truck at the Panguna mine

A lone copper dump truck  burned out during the crisis. Photo: Ian Booth.

Rowan Callick | The Australian

Rio Tinto’s review of its controlling stake in Bougainville Copper, now in its ninth month, is considering the options not only of a trade sale but also of giving its shares away, possibly to a charitable trust.

A year ago the mining giant gave away its 19.1 per cent shareholding in Northern Dynasty, owner of the Pebble copper-gold project in Alaska, to two Alaskan charitable foundations.

Rio owns 53.38 per cent of the Papua New Guinea mine, closed by conflict in 1989, that still contains copper and gold worth more than $50 billion, as well as possessing a recently reconfirmed exploration licence.

The mine, which would cost an estimated $6.5bn or more to reopen, is also owned 19.06 per cent by the Papua New Guinea national government, and 27.36 per cent by other shareholders through its ASX listing.

In the current commodity environment, even the largest miners are not contemplating starting — or restarting — a massively expensive project at a stroke, preferring instead to work green-fields sites less ambitiously, gradually building up output.

Rio has waited patiently for its social licence to mine to be restored but despite the desire of the Bougainville Autonomous Government, under its president John Momis, to restore mining revenues — with no clear income alternative in sight — landowner issues have not been fully resolved.

And under new mining legislation passed by the Bougainville parliament recently, all resources are owned by traditional landowners, while the national government based in Port Moresby continues to insist that geological resources remain the property of the state.

Apart from Rio, there are few potential alternatives with the capacity to rebuild the mine, except for a handful of other international miners and some large Chinese corporations.

But the window of opportunity for an exit is looking reasonably favourable now, while the prospect for the medium to longer term appears more shaded.

The prospect of a change of leadership on Bougainville, with an election due there at the end of May, injects a note of potential uncertainty.

At the Port Moresby end, Prime Minister Peter O’Neill is leading a government with rare political strength — and has the appetite for the state to run mines. But PNG’s history shows this may not last forever.

Mr Momis has warned Mr O’Neill to reveal any dealings with Rio.

The PNG Prime Minister confirmed that “we have had discussions with other shareholders of on a range of issues including the reopening of the mine and the disposal of shares by existing shareholders including Rio Tinto”. But, he added, “there are no secret deals”.

The Bougainville government’s concern was aroused by information it had received that law firm Norton Rose Fulbright, which works for Rio internationally, had received instructions to handle the sale of Rio’s shares. A Norton Rose spokesman decline to comment.


Filed under Financial returns, Papua New Guinea

Fiji government tries to quieten landowner opposition to Newcrest exploration

Ministry, landowners meet over exploration issues

Vuniwaqa Bola-Bari | Fiji Times

THE Lands and Mineral Resources Ministry deputy permanent secretary Malakai Nalawa today met with members of the Nawaisomo clan to iron out issues regarding the exploration work by the Namosi Joint Venture.

The landowners were today informed that all that has been done at this stage was exploration of the land for minerals but no mining has been done, thus lease money will only be given once the lease of their land is allowed when the company feels that they should mine the land for its minerals.

But if minerals are not found, landowners will get compensation for  the exploration work with accordance to damage done during the time of exploration by the company.

The meeting was held at the Namosi Provincial Office in Navua.

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Filed under Exploration, Fiji, Financial returns

Barrick Gold kompensesan moni long reip long Porgera ino inap

Porgera gold mine

Em hap blong Porgera Mine long Enga Proince long PNG (Credit: Audience Submitted)

Caroline Tiriman | ABC Radio Australia

Igat bikepal heve i stap yet long sait long kompensesan moni Brarrick Gold i peim long ol meri sampela wokman ibin reipim ol long Pogera.

Odio: Kay Kuamugle, meri husat ibin helpim ol meri em ol security guard i bin reipim ol long Porgera Mine long Enga long PNG

Ol kompensesan moni em Barrick Gold Mining kampani blong Canada, ibin baem ol mama na ol yangpla meri bihaen long ol sekiuriti gard ibin rapim ol long PNG Pogera Mine, em ino inap.

Despla toktok ikam long Kay Kuamugle, meri husat ibin helpim ol meri em ol security guard i bin rapim ol long Porgera Mine.

Barrick Gold emi wanpla bikpla Gold mining kampani tru long wold na emi bin tok oraet long baem compensation igo long 11pla meri bihaen long oli bin tok bai oli bringim wari blong ol igo long wanpla kot long America.

Sampla long ol despla meri em ol man ibin rapim ol em ol yangpla meri tru, em krismas blong ol ibin stap olsem wanpla ten foa.

Kay Kuamugle itok olsem laif blong ol despla meri nau i bagarap olgeta long wonem Barrick Gold i bagarapim graon blong ol na oli save kisim pipia long Gold mine blong lukautim sidaon blong ol.

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Filed under Human rights, Papua New Guinea

Solomons govt remains against untreated mine water release

gold ridge

Radio New Zealand

The Solomon Islands government has reinforced its position against the release of untreated water from the tailings dam of the country’s closed goldmine.

The Ministry of Mines, Energy and Rural Electrification and the Ministry of Environment, Conservation, Meteorology and Disaster Management concludes that the main water at the tailings facility at Gold Ridge mine is unsafe.

In a torrent of newly released information, the government has delivered a long list of reasons for its position against the untreated release of water from the Gold Ridge dam.

Some of the reasons include a critique of the sampling methods used in the recently released WHO tests on water quality which declared the tailings water safe.

The government also cites a lack of consideration of the longterm cumulative effect on the environment and the belief that allowing the release of untreated water into the environment would set a bad precedent for future mining activities in the country.

The government also in its statement revealed that its initial negotiations to purchase the mine from Australian owners St Barbara involved a price tag of around 76 million US dollars.

This is an amount Solomon Island taxpayers no longer have to fork out as the government has since backed out of the deal which is now left in the hands of local land owning communities in the mine area and an unnamed foreign investor.

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Filed under Environmental impact, Human rights, Solomon Islands

O’Neill pushing for increased dependency an an UnConstitutional and failed development model

Large-scale mining and gas projects completely defeat the five National Goals in our Constitution* and after 30-years have utterly failed to improve the lives of ordinary people in PNG. Yet our Prime Minister and government are determined to blindly continue along the same failed economic path, enriching foreign corporations and themselves while we suffer the environmental and social costs…

Prime Minister O’Neill positive on mining meet outcomes

Neville Choi – EM TV, Port Moresby

Heads of mining and mineral companies, decision makers in Papua New Guinea and potential investors, will all converge at Sydney’s Hilton Hotel for the 13th Mining and Petroleum Investment Conference starting tomorrow.

Prime Minister, Peter O’Neill will be officiating at the conference, and is positive about discussions on PNG’s mining status and future.

He feels PNG could benefit greatly from further exploits into its resource sector. 

This, despite global projections that PNG’s mineral sector will reach unprecented levels over the next three to five years.

Prime Minister Peter O’Neill sees this year’s conference, as one of the very few times that PNG has, to showcase itself, to solidify its economic future.

“The mining conference that is going to be held in Sydney, is an important occasion for Papua New Guinea to showcase our opportunity, to come and invest in the petroleum and mining sector,” The PM Says.

It is a regular event, and most, nearly all of the country’s current mining and petroleum projects have been spawned at this event.

It’s a meet that shows PNG decision makers, whose interested in doing business in the country, and how much, in investment kin

Despite a larger funding focus on Tourism and Agriculture as the country’s lead renewable sectors, the push for more investment in the mining and mineral sector, could see some major announcements expected at this year’s [event].

* Our National Goals are:

  • Integral human development and freedom from every form of oppression
  • Equality and equal participation
  • National sovereignty and self-reliance
  • Wise us of natural resources and the environment for current and future generations
  • Reliance on the use of of Papua New Guinean forms of social, political and ecomomic organisation


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

Pentanu’s skeletons fall out of the closet

Simon PentanuWhat happens when you have too many skeletons in your closet? Well for Ombudsman Simon Pentanu, it might have been a sour treat to be reminded of his recent past. Mr. Pentanu went after a report that only conveyed an affected people’s voices. The Ombudsman lashed out at Jubilee Australia for their publication of the report ‘Voices of Bougainville: Nikana Kansi Nikana Dong Damana (Our Land, Our Future)’. He also attacked individuals like Clive Porabau and Dr. Kristen Lasslett. The article was published on Keith Jackson and Patrick Fitzpatrick’s blog site ‘PNG Attitude’, titled “Let no outsiders pit us against ourselves”

The article clearly was written under assumptions in most of its parts, and called on all Bougainvilleans not to let outsiders create division within. Jubilee Australia, an Australian NGO that campaigns for Australian companies’ corporate responsibility in Asia and Pacific, published what was clearly not made up, however that did not go down well with the Ombudsman.

Dr. Kristen, an academic who has been very vocal on Rio Tinto/BCL’s involvement in sponsoring the PNG government’s ten year blockade and deliberate terror on the Bougainville people, came under fire from Mr. Pentanu. Dr. Vikki John, an Australia academic who clearly had no association with the report was criticized for assumedly being involved in the research.

And Clive Porabau, an upright campaigner against the reopening of the mine was assumedly accused by the former ombudsman to be working with U-Vistract’s Noah Musingku. A very shallow accusation made by the Ombudsman. And he might have dug a hole for himself on that, for a response came in on the blog by a Dansi Oerupeu that pointed out loopholes in his piece. Simon was questioned why he accused Clive Porabau for working with Musingku when Pentanu himself made a mountain of money’ from Musingku’s money scam business U-Vistract. According Dr. Patrick Gesh, Mr. Pentanu received a handsome K90 000 early return from his investment, in the scam which stole millions of kina from ordinary Papua New Guineans.

Not only that, Mr. Pentanu was also questioned on his dealings with Queensland businessman Godfrey Mantle and his Mantle Group. Mr. Mantle has been able to acquire 12 500 hectares of Bougainville. Yes, 12 500 hectares of Bougainville soil sold to an outsider! And this was managed by the patriotic Pentanu.

And it does not end there, Mr. Pentanu was also a paid consultant to Bougainville Copper Limited (BCL), for what purpose who knows, but it is obvious BCL’s intention is not for the people, and Mr. Pentanu knows too well about that.

Hence, if we Bougainvilleans are not to allow outsiders to pit us against ourselves, then we should be aware of those insiders who are capable in turning Bougainvilleans against each other. Bear in mind that we stood against this very company that sponsored an unstable and ignorant government of PNG to “starve the bastards (us) out”.

Bougainvilleans should not play to the “better the devil you know”  tune because it is just offensive to the people to know that leaders are blind to be working with the very organization that was hell bent on killing to get to the island’s riches. It does not take years of education to develop a level conscience to see that the reopening of the mine equates the reopening of wounds. Not only that, with an environment that is fighting tooth and nail to recover from a cancerous ulcer and infectious bleeding of poisonous chemicals streaming into the ocean, it counts very much to forget the idea of a reopening, because ultimately this is against the wish of the silent majority who have to live in the nightmare of the trauma and pollutions aftermath. Something Mr. Pentanu does not feel living in the comfort of his home in Port Moresby!


Filed under Environmental impact, Human rights, Papua New Guinea