PRESIDENT of the Autonomous Region of Bougainville Chief Dr John Momis has been invited to attend an urgent mining meeting in Port Moresby this Saturday (November 10th, 2012).
The purpose of this meeting is to discuss the issue on the possible reopening of the Panguna Mine.
This meeting has been organised by the National Minister for Petroleum, Oil and Gas, William Duma, Bougainville Affairs Minister and South Bougainville MP Steven Pirika Kamma, Communication and Information Minister and Central Bougainville MP Jimmy Miringtoro and Bougainville Regional MP Joe Lera.
The issues that will be discussed during this meeting include;
? The possible Panguna Mine ownership concepts.
? The benefit sharing models available for consideration by ABG and the National Government on the Panguna Mine.
? Options for possible mine developers from Brazil, Venezuela to see and consult with possible South American based developers.
? Other issues relating to mining.
According to the copy of the invitation letter which was given to President Momis by Mr Lera, the above issues that will be discussed is another alternative that the ABG and National Government can consider other than the one with BCL which the ABG is currently pursuing.
Mr Lera said this is an opportunity for the National Government and the ABG to explore other mining options available to PNG through partnership with other mining companies in other countries especially South America.
ABG Mining Minister Michael Oni and ABG Finance Minister Albert Punghau are also expected to accompany Mr Momis to this meeting.
ESBC: On November 12th and 13th, 2012 the Board of Directors of Bougainville Copper Limited meets in Port Moresby !
BOC Price at posting:
67.0¢ Sentiment: ST Buy Disclosure: Held
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(20min delay)