BEC grants exploration licence to Eivo-Joint Venture Ltd
The Bougainville Executive Council has granted mineral Exploration License number 7 (EL07) to Eivo-Joint Venture Ltd (EJV).
Bougainville President and Minister for Mineral and Energy Hon. Ishmael Toroama presented the exploration license to EJV landowners in Arawa Town today.
The licence is granted with mandatory licence conditions as required by the 2015 Bougainville Mining Act and also additional licence conditions imposed by the Bougainville Executive Council. Some of these licence conditions include:
- Land Access and Compensation Agreement requirements
- Landowner Identification Study requirements
- Social Mapping Study requirements
- Work program performance requirements
- Local expenditure requirements
- Community engagement requirements
- Environment permitting and environment management requirements
The decision by the Bougainville Executive Council to grant the exploration license was made after EJV had satisfied the requirements of the Bougainville Mining Act and also considering there was significant support by landowners and local leaders for the project.
Member for Eivo-Torau Hon. Lawrence Sirapui in thanking the BEC for the grant decision also spoke in support of EJV and the exploration project.
“This is the type of project that we need to kick start Bougainville’s economy so it important that all stakeholders must support it,” President Toroama said.
“Our collective support for projects of this magnitude can see the growth of a sustainable mineral sector in Bougainville,” President Toroama added.
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