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MINER LOSES SUPPORT
11 August 2017
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Bugotu landowners withdraws backing from AXIOM KB as Sumitomo pulls out of exploration project here
BUGOTU Landowners Association (BLA) in Isabel has withdrawn its support from Australian mining company AXIOM KM Ltd.
In a statement issued on Wednesday, the association said its decision was based on a resolution reached at its Annual General Meeting held at Sepi Village, Gao/Bugotu Constituency on 25 June 2017.
“The meeting, attended by 75 members, also resolved that individual landowners who had signed a Surface Access Agreement with AXIOM KB Ltd to revoke their signatories,” the statement said.
It said those that attended the meeting included association executive members, trustees and landowners.
“As a result, 17 landowners who had signed the Surface Access Agreement with AXIOM KB have already revoked their signatories.
“We have requested the former Minister of Mines, Energy and Rural Electrification, David Dei Pacha to revoke the signatories of the individual landowners.”
The statement said the association executive told Mr Pacha that they believe the arrangement is better because BLA will protect customary interests and those of the local population.
“It will also secure and protect resource owners’ development interests and those of Isabel people, their Provincial Government and the country as a whole.
“We also informed Mr Pacha that because we have lost confidence and trust in Axiom KB Limited, we revoke any authorisation we have made to contribute towards Axiom KB’s application for a prospecting licence for San Jorge.
“To-date, we are still waiting for the response from the Ministry of Mines, Energy and Rural Electrification,” the statement said.
Meanwhile, the association’s AGM was told the Bugotu Landowners Association has been inactive in the past five years due to financial problems and the passing away of most of its executive members.
But the election of new executive members and trustees for a two-year term in office means new blood being pumped into the Association.
The AGM stressed the Bugotu Landowners Association is here to stay and will not allow any of its members to be left behind, adding “our association’s common goal is to develop our resources”.
The AGM was also told the BLA has gone through turbulence in the past but today it aims at re-unifying its members so they can once again work together as one people.
The AGM was also told there are investors out there, so the association and its members need to sort themselves out in order to move forward with “our mission and vision for our people”.
The AGM was also told the Government was prepared to support the BLA, but the association must be properly established as it will represent the trustees and landowners in consultations with investors and government authorities with plans to exploit their customary resources.
Calls to AXIOM’s office in Honiara on Wednesday for comments have not been answered.
An email sent to their office address also bounced back.
Meanwhile, Japan's Sumitomo Metal Mining Co Ltd announced on Tuesday it is leaving its nickel exploration project in the country.
The company said its decision was based on slumping nickel prices and the loss of a legal dispute over mining rights here.
Sumitomo Metal Mining, which began exploring in the Solomon Islands in 2005, has been caught up in a six-year legal battle with AXIOM Mining, which ended this year with neither company being granted the rights over a nickel deposit in Isabel province.
"As a result of our comprehensive review of business circumstances, the final judgment in the legal proceedings and other factors, we have concluded that it is difficult for us to implement the project," Sumitomo Metal said in a statement.
"We will pull out from all of the pending applications for mining leases," a company spokesman said, adding the withdrawal will be completed by the end of December.
The Japanese miner declined to disclose its exploration costs and the cost of the legal battle, but said the exit will have a minor impact on its earnings for the current financial year to March 2018.
"During the legal proceedings, nickel prices have plunged. But even if the market picks up, it would be difficult to conduct the project as the social and legal system has not been developed in the Solomon Islands," the spokesman said.
Sumitomo Metal has said it aims to increase its nickel output from its mine holdings to 150,000 tonnes a year in 2021 from the current 100,000 tonnes.
"We'll continue to seek new nickel assets through projects in the Philippines and Indonesia, among others," the spokesman said.
By LESLEY SANGA
