BOC 15.0% 48.0¢ bougainville copper limited

Step by step

  1. 267 Posts.
    lightbulb Created with Sketch. 91
    13.06.2014
    Source: Post-Courier
    Ex-combatants fear K14m payout


    EX-COMBATANTS from a mine-affected landowner group in South Bougainville fear the K14 million payment agreed upon by Bougainville Copper Limited could lead to trouble.
    The mining company, which has been negotiating its return to the Panguna copper mine, met with landowners in Port Moresby last month to discuss royalties outstanding from 1990. The sum in 1990 was K1.9 million but with interest the sum has ballooned to K14 million.
    This money will only be paid to landowners in the mine-affected areas.
    Albert Magoi and Benedict Takussi, who represent ex-combatants and the lower-tailings area, told this newspaper: “The timing is not right. By custom we must hold the bel kol first and then negotiate on compensation.
    “As of today, no peace has been accorded to Bougainvilleans by BCL in order to open negotiations in Bougainville. Please stop this nonsense as the process is not correct.”
    Although the two will actually be beneficiaries of the payment, they fear if it is not done right it “might ignite another chain of events, another war.
    “Much of this money is ours, but we don’t want to be greedy,” they added. “We support the peace process.
    “This needs wider consultation. We need to discuss other people’s views outside the house, not only in the mine-affected areas.”
    The ex-combatants pointed out that, although the Bougainville War began in Panguna, the rest of Bougainville also suffered terribly.
    “We don’t want this K14 million to cause another conflict,” they said. “If only this specific group gets the money then others who suffered will not be happy. There was bloodshed over the mine operations and it was not only the landowners. Other Bougainvilleans were affected, from the atolls to Buin, and we want this to be taken into account.”
    The two ex-combatants also questioned the composition of some of the newer landowner groups, pointing out there were six original groups and now there were nine.

    Hello everyone ...
    I thought that this would be of interest ... it seems that a lot is going on behind the scenes.
    As I recall, the large Bel Kol ceremony is now due next month (July) ... fingers crossed that all goes well, both from the POV of investors and also the locals who so much need peace and security and improved economic conditions.
 
watchlist Created with Sketch. Add BOC (ASX) to my watchlist
(20min delay)
Last
48.0¢
Change
-0.085(15.0%)
Mkt cap ! $192.5M
Open High Low Value Volume
49.5¢ 52.0¢ 48.0¢ $40.52K 80.13K

Buyers (Bids)

No. Vol. Price($)
1 2129 46.5¢
 

Sellers (Offers)

Price($) Vol. No.
50.0¢ 2500 1
View Market Depth
Last trade - 15.59pm 05/07/2024 (20 minute delay) ?
BOC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.