BOC (ASX) PRESS RELEASE OF THE SPECIAL MINING LEASE OSIKAIYANG LANDOWNERS ASSOCIATION INC (5-4832)

Originally posted by downunderminer ↑

PRESS RELEASE OF THE
SPECIAL MINING LEASE OSIKAIYANG LANDOWNERS ASSOCIATION INC (5-4832)

THE ABG CONFIRMS THAT BCL DID NOT GAIN THE REQUIRED COMMUNITY SUPPORT FOR THE RENEWAL OF THE BCL EL UNDER THE BOUGAINVILLE MINING ACT

1 January 2018

The Special Mining Lease Osikaiyang Landowners Association Inc (“SMLOLA”) is appreciative of the efforts of the Autonomous Bougainville Government (“ABG”), giving Bougainville Copper Limited (“BCL”) every opportunity to step up and win landowner support, as they repeatedly stated they had. As evidenced by the Warden’s Hearing however, the landowners for the first time, were given an opportunity to speak their mind and clearly BCL does not have the support of the community at large, even after a two year exploration licence and a further period of nearly 18 months. We feel the ABG has been more than fair to BCL. However they have not even taken responsibility for the past or offered us any compensation, just lots of broken promises. They have clearly failed under the Bougainville Mining Act and we thank the ABG, Mining Department, Mining Registrar and Mining Warden for conducting an open and fair Warden’s Hearing, which has shown that BCL will never be welcomed back into Panguna. The professionalism of the Hearing has brought much hope to our people who many feel they were being listened to for the first time.

Mr Miriori said “we are thankful we can now move on from BCL and the past and look forward to a new era, where Bougainville can prosper and we can see the fruits of our efforts over the last two years to make sure our people are protected and we can attract a partner that will respect us this time and make sure we all benefit fairly from a redevelopment of Panguna.”

”We thank President Momis for his wise and prompt leadership in his response to the Warden’s Hearing, making the results known on a timely basis to allow us all to move on and focus on a new proposal that we can all unite behind.”

The opposition to BCL was on many fronts, which were outlined repeatedly by members who spoke up against them including:

the legacy issues - both environmental and social impacts which BCL has refused to take any responsibility for;

BCL has offered no compensation for these core legacy issues despite repeated demands of both our Government and our people;

the insurmountable liabilities that arise directly from these legacy issues, both real and contingent, render BCL a totally inappropriate legal structure to move forward with, exposing us all to their sins of the past;

our legal advice that the BCL 2 year exploration licence actually expired 15 months ago on 7 September 2016 but we allowed the Warden’s hearing process to continue, because of our confidence in the result and to ensure there was no uncertainty left in people’s minds that BCL would ever be able to return;

the decade long, $6 billion BCL Development Plan, with no commitment for assistance before the mine was back up and running, was hopelessly unrealistic and unfair; and

the absence of any meaningful community assistance over the last 30 years, and in particular over the two-year term of the BCL EL. Again lots of promises but nothing of substance.

There is broad support within the Panguna Community to re-establish the Panguna mine, as most understand that Bougainville requires economic development urgently and we simply cannot continue to rely entirely on the PNG Government for handouts. Our Finance Minister Mr Robin Wilson, quite recently highlighted the challenges Bougainville and the ABG face with future funding needs. Redevelopment of Panguna is a way for us to become a successful and independent country of our own.

Mr Miriori said “we have done a lot of work in the community over the last couple of years and despite the horrific past we have been able to show the members that with the right people, people who respect both the environment and the importance of a social licence, people with a track record we have seen for ourselves, the mine can be a success for everyone.”

“President Momis has said he will now meet with the Panguna Landowners and develop an alternative plan for Panguna and we welcome the opportunity to work with the ABG. We have invested a great deal of time in this agenda over the last couple of years and believe now the road is clear to deliver a solution where all can win and we do not need to look backwards but can focus on the future.”

The SMLOLA, as the Landowner Association whose members own the land and minerals within the boundaries of the old Panguna Mine, look forward very much to this new initiative by President Momis and to working with the ABG on this vitally important national and local initiative.

Philip Miriori
Chairman

ENDS//

Expand

A pitch by the creators of the "nuisance" who driven by a narrow self interest are ignoring the global interests of the Bougainvilleans and the inherent commercial efficacy of the new ownership structure of BCL reopening the mine.
The best RTG and its confederates can achieve is just a delay to the resurrection of prosperity.

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Last 62.0¢		Change 0.035(5.98%)		Mkt cap ! $248.6M

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PRESS RELEASE OF THE SPECIAL MINING LEASE OSIKAIYANG LANDOWNERS ASSOCIATION INC (5-4832), page-2

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PRESS RELEASE OF THE SPECIAL MINING LEASE OSIKAIYANG LANDOWNERS ASSOCIATION INC (5-4832), page-2

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