boc mine gets major support

Bougainville Copper Mine gets major support from senior Government Minister


Papua New Guinea's Minister for Bougainville Affairs, Fidelis Semoso, has delivered his strongestever
statement of support for the re-opening of the BCL copper mine at Panguna.
Quoted in the Post Courier daily, on September 30, 2010, Mr Semoso says the Autonomous
Bougainville Region needs an impact project to pump its economy, and that the Panguna mine is an
ideal answer, providing the Governments of Bougainville and PNG, together with landowners, can
quickly address outstanding issues.
"Yes, revenue from copra and cocoa used to bring K60 or K70 million into the Bougainville economy
in the years before the crisis, and there is talk about other mines that could be developed in the
future.
"But agriculture cannot provide us with enough help, and future mines may take ten years to
develop.
"The Panguna mine will take between three and five years to re-start, and surely we can get back to
where we were before the crisis, or better," the Minister said.
"The Bougainville Copper Agreement is still one of the best blueprints for development, and is in
place."
He appealed for all stakeholders in PNG and the Autonomous Bougainville Region to come together
and seriously address the BCL issue, so that real development could start.
Mr Semoso said he would be making a visit to meet the landowners of Panguna to seek first hand
their views, before taking the matter up with the National Government.
Bougainville Copper Limited, which owns the Panguna property and seven adjacent tenements, has
said it is ready at any time to commence the renegotiation of the Bougainville Copper Agreement.
In production, Panguna would still be one of the largest copper/gold producers in the world.


Source: http://www.bougainvillecopper.com.pg/bcl_gets_support.pdf