European Shareholders of Bougainville Copper (ESBC) President Axel G Sturm said on Tuesday in Vietnam (Laos) that he was satisfied to hear from Prime Minister Sir Michael Somare that he will also support the re-opening of the Panguna mine in central Bougainville. Last weekend the PNG Prime Minister announced the resuming of mining in one of the worlds hugest copper, gold and silver mines during the 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 PNG 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 ONeill 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 worlds base metal suppliers. Furthermore the credibility of PNG as an interesting place for secure future investment will be improved sensibly." Mr Sturm said "the Grand Chief Somares 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 are happy, said Mr Sturm.
BOC Price at posting:
$1.50 Sentiment: ST Buy Disclosure: Held
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