Landowners will own Panguna shares, not ABG, clarifies PM

Landowners of Panguna mine and the people of Bougainville will own the 17.4 percent Bougainville Copper Ltd (BCL) shares given by PNG National Government.

Prime Minister Peter O’Neill confirmed this in Parliament this morning.

He was responding to questions raised by Sinasina-Yongomugl MP Kerenga Kua in the ownership of the 17.4 percent shareholding that the prime minister announced yesterday.

"Let me correct the issues he has raised," O’Neill said.

"These shares are not given to the ABG, it is given to the landowners and people of Bougainville.

"I have deliberately done that so ABG does not control the shares."

PNG government only owes 19.2 percent, and ABG and Bougainville hold a combined shareholding of BCL.

Author: 
Charles Yapumi