Bougainville landowners and Me’ekamui have thrown their support behind the Autonomous Bougainville Government’s call to regain control of the 17.4 percent Bougainville Copper Limited shares.
The shares were transferred to the impacted landowners of the abandoned Panguna Mine.
Prime Minister Peter O’Neill last month announced the shares transfer to mine landowners, bypassing ABG. This did not go down well with the PNG’s semi-autonomous province.
In a combined statement, Panguna Mine Affected Landowners Association and the Me’ekamui Government of Unity stated that the equity must be transferred to ABG to look after on behalf of all the people of Bougainville, including the impacted landowners.
The statement condemned the action of former mine operator, Rio Tinto’s decision to gift its shares to PNG and ABG to wash its hands clean of the issue of pollution during the mine’s life.
ABG President John Momis says, if the national government does not transfer the equity to his government, ABG will cancel the BCL’s exploration licence under Bougainville’s Mining Act, and find a new developer.
Rio Tinto told Loop PNG that: “We are pleased that the ABG has claimed its allocated 36.4 percent shareholding in BCL and we remain hopeful that this will provide a platform for the ABG, the PNG Government, the landowners and the people of Bougainville to work together on future options for the resource.”
The national government owns 19.2 percent shares in BCL.