There’s notable development made in the ongoing discussions between the Autonomous Bougainville Government and Bougainville Copper Limited (BCL) in relation to the Judicial Review Dialogue.
This includes the appointment of five Bougainvillean directors to reflect it’s local representatation.
“I am pleased to advise that good progress has been made in our ongoing discussions with Bougainville Copper Limited (BCL) aimed at amicably ending long-running Judicial Review proceedings in the National Court of PNG, “said Toroama.
In January 2018, the Bougainville Government refused an extension of BCL’s exploration licence (ELO1).
In April 2018, the Court granted a leave to BCL for a judicial review of the decision.
Toroama said much has happened since then, including the historic referendum that’s paving Bougainville’s path to independence.
“BCL has also continued its transition as a local company, and the ABG currently has 36.45% shareholding in BCL. Through this, the process of transferring another 36.45% presently held by the National Government started,” said Toroama.
In total, the ABG and people of Bougainville are set to have a 72.9% ownership stake in BCL.
As a result, the ABG and BCL have agreed on terms for a deed of settlement that would result in BCL ending the judicial review proceedings once the parties have delivered on a series of undertakings.
These include BCL contributing funds to assist Panguna reburials and reactivating the Bougainville Copper Foundation education scholarships program.
For its part, the ABG has agreed, consistent with the Bougainville Mining Act 2015, to reconsider BCL’s EL01 extension application with a view to extending the exploration licence for five years.
“It must be stressed that this would NOT be a mining licence; the issuance of which is subject to a separate process. BCL has agreed to file a notice with the court for the discontinuance of the Judicial Review,” said Toroama.
An extension of EL01 will allow BCL to continue its program of community support and work cooperatively with the ABG, landowners and the broader community to achieve mutual goals.
Any future redevelopment of Panguna under a mining licence will inevitably require the involvement of many project partners. The ABG will continue to progress dialogue with landowners and important stakeholders in preparation for the eventual granting of a mining licence in the near future.
In the meantime, required feasibility related activities must be progressed under an exploration licence; these activities will take years to complete before the project sees actual mining development stage.
“Panguna is also a Bougainville-wide agenda given its relationship with the Bougainville Crisis. This fact, coupled with evidence of strong backing across Bougainville from prior consultative forums undertaken by the ABG in North, Central and South Bougainville supports my decision to pursue this path as President,” President Toroama said.
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