BOUGAINVILLE potentially stands to benefit from the Panguna Mine if it re-opens again. Bougainville Affairs Minister Fidelis Semoso, based on information gathered from international economic experts who had dealt with the Panguna mine, said that Panguna alone, if re-opened, has the potential to bring in: ? K14,00 million for landowners yearly ? K418 million unprecedented ? K700 million revenue per annum And from the 19.1 per cent shares being talked about openly by the National Government and the ABG, K9.2 billion could potentially set to benefit the ABG yearly looking at a total of 76.4 million shares at A$40 or K120 per share. ABG President John Momis also endorsed and reiterated the importance of re-opening the mine and alluded to the statement by Rio Tinto/BCL overall boss Peter Taylor, admitting they made a mistake but were prepared to work along well with the landowners, the ABG and the PNG Government on the issue. ?The Panguna mine is worth much, much more than we were ever told.? ?Our people should have some faith in the Government because we can see that Bougainville does have a bright future,? Mr Momis said. Bougainville Affairs Minister Fidelis Semoso told a crowd at Kokopau, the gateway to mainland Bougainville, that the Panguna Mine had huge potentials if re-opened and everybody would benefit, compared to the last mine operation and its landowner packages. Mr Semoso read out in public that information he had from international/economic advisors said that the re-opening could have more than what was being received during the operational years.
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