esbc president lauds grand chief

ESBC press release 20101207

The President of the European Shareholders of Bougainville Copper (ESBC), Mr. Axel G. Sturm, stated on Tuesday in Vientiane (Laos) that he is very satisfied to hear from Prime Minister Sir Michael Somare that he also will support the re-opening of the Panguna mine in central Bougainville. Last weekend the PNG prime Minister had announced the resuming of mining in one of the world's hugest copper-, gold- and silver mines on a PNG resource conference in Sydney. "This visionary statement shows to me that still at 74 years old Sir Michael is still the shining leader of Papua New Guinea who knows when the time has come to intervene," said Mr. Sturm. "Only a few weeks ago I have asked Sir Michael in a letter if he kindly could give support to this long outstanding issue. Now the time has come and he decided to act in that very positive way." The ESBC President considers the actual political constellation as ideal: "The Grand Chief, assisted by his Ministers Fidelis Semoso, Arthur Somare, Peter O'Neill and Paul Tiensten, together with his old friend, ABG President John Momis, are the "dream team" to bring things forward in Bougainville. The re-opening of the Panguna mine will bring PNG into the first row of the world's base metal suppliers. Furthermore the credibility of PNG as an interesting place for secure future investment will be improved sensibly." Mr. Sturm says that "the Grand Chief Somare's initiative will help to bring peace and prosperity to Bougainville. Mr. Sturm is convinced that not only the Panguna landowners but also all Bougainvilleans will be very grateful for this: "We, the European Shareholders of Bougainville Copper, we are!"