proposed venezuela-style nationalisation of mining on bougainville

040219 PROPOSED VENEZUELA-STYLE NATIONALISATION OF MINING ON BOUGAINVILLE
New Dawn FM News
The former Mining Minister under the late Joseph Kabui Government, MATHIAS SALAS has told the first ABG Parliamentary Legislation Committee hearing in Arawa yesterday that a great human tragedy is taking place at this time in the formerly prosperous country of Venezuela which is one of the richest resource countries in the world with the world’s largest known oil reserves.
He told the Arawa gathering that the last two crooked Socialist leaders destroyed the economy by nationalising the existing successful companies and giving the resources to Russia and China to raise money for themselves. The economy has collapsed; people have been reduced to poverty, and an estimated 3 million people have fled.
MR.SALAS said that similarly Bougainville Resource owners, and, we understand institutions that fund Bougainville, were blindsided when a small elite group in the ABG dumped a Venezuelan style game changing Amendment to the Bougainville Mining Act on the legislature just last week.
It sidelines the Current Act and dismisses the carefully crafted procedures to safeguard the Customary Landowners for the issuance of licences. Cynically, it dismisses the requirement for prior consultation with the Customary Landowners which is a foundation of the strength of the current Act.
How? A “Special Bougainville Mining Licence” over all mineral resources on Bougainville including Panguna (except the four Exploration Licences issued) is to be granted to a Special Mining Entity that has already done a back door deal with Caballus Mining that has no experience in financing, exploration or mine building.
MR. Salas said this of course raises the usual question, what is the relationship between the elite group and the unqualified company with a presence in the Virgin Islands?
Like the 2011-2013 BCL moves to hijack Bougainville by having the early versions drafted in Australia by Australian lawyers, it is understood that Caballus Mining drafted the latest legislation in Australia. So much for the requirements of input, awareness and feedback from those people most adversely affected by new legislation – the Bougainville Customary landowners.
“Bougainvilleans may be slow to react but they are building up steam. When they push back they are a formidable intellectual opposition.” Said Mr. Salas.
Ends