Momis Commits to New BCL
By Anthony Kaybing
President of the Autonomous Bougainville Government Chief Dr John Momis has announced his support of the new Bougainville Copper Limited (BCL).
The new BCL is a step away from the post-colonial and pre-crisis arrangement that had Bougainville at a disadvantage. It is jointly owned by the Autonomous Bougainville Government, the National Government, Panguna Landowners and people of Bougainville who will develop the defunct Panguna Mine, with the landowners, for the benefit of Bougainville.
President Momis said the ABG as regulator will work together and support BCL to explore alternative Panguna development options that will accommodate the interests of project stakeholders to fast track the development of the Panguna resources.
“Since BCL was invited to formally re-engage in discussions in Bougainville in 2012, the landowners have consistently stated their preference to work with BCL as the developer,” Momis said.
This was recently reaffirmed by the nine landowner associations in Buka on 23 February, 2017 after the BCL team, led by Chairman Rob Burns, made presentations to the ABG leaders and the nine landowner association executives and representatives on BCL’s new development proposal for Panguna.
During that visit the Chairman presented a development proposal to the ABG leaders and landowners outlining how different the latest Panguna approach will be under the new BCL, now owned by the ABG, the Panguna landowners, people of Bougainville and the National Government.
Due to the majority of shares recently transferred from Rio Tinto to ABG and the National Government, the ABG and the landowners now view BCL not as the devil we know but the devil we won.
The ABG and the landowners will now have to take advantage of this scenario and work out a positive strategy for an outcome that will be equitably beneficial for all stakeholders, especially the landowners.
The ABG and the landowners have also committed to addressing the immediate challenges of progressing the Panguna project and look forward to working in partnership with BCL through the project development cycle.
During discussions held this week between the BCL and the ABG, the two parties reaffirmed their commitment to agree on a way forward that immediately addresses stage 0 "Removing impediments", under the development proposal presented during the 23 – 24 February visit.
In these discussions it was also mentioned that BCLshould consider different opportunities for project financing that supports the ABG’s agenda and builds long term, unwavering development in Panguna.
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