BCL: Mine to involve all parties By ANCILLA WRAKUALE
THE Panguna mine in Bougainville will only reopen after a wider engagement with all parties concerned, says Bougainville Copper Limited. The company, in its annual general meeting in Port Moresby yesterday, said they are now in the process of talking to all stakeholders including landowners, ex-combatants, community leaders, the Autonomous Bougainville Government and the national Government. BCL board chairman Peter Taylor told shareholders in that the company is putting together a customary reconciliation process known as bel kol to pursue reconciliation. Through this process he said BCL is hoping to establish a presence in the former mining township of Arawa. He said the Joint Panguna negotiation coordination committee (JPNCC) consisting of government, landowner and company representatives is working on that. He said the bel kol process is a critical path to resuming access to the mine site and other related areas. Mr Taylor said the reconcilliation may take place this year. "As a gesture of good will, the company will make a significant contribution, towards vocational training upgrades, village literacy programs and malaria mitigation," Mr Taylor said. "After the bel kol ceremonies, in which the BCL management will participate, three different memorials will be erected. "Furthermore, more detailed studies, such as the pre-feasibility study and a feasibility study are required to confidently determine the potential economic viability of re-opening the mine. "Only upon completion of those studies will the board be sufficiently informed to take a decision whether or not to open the mine and commencement of construction. Mr Taylor said the ABG is steadfast in its commitment to achieving wider consensus needed among all Bougainvilleans to allow BCL should their technical studies demonstrate a viable business, to make a return to mining at Panguna. Meanwhile, BCL recorded a profit of K6.8 million for 2013, compared with a planned loss of K10.4 million in the last reporting period. "The result comes after a write-back of a provision of K8million. Mr Taylor said tax dispute legal fees continue to be a drain on the revenue.
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