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Showing posts with the label PNG Mining and Petroleum Investment Conference

SOMARE WANTS TO REOPEN PANGUNA IN TWO YEARS

PLATTS

Work to reopen the world-scale Bougainville copper mine after a 20-year hiatus can potentially begin within two years, Papua New Guinea Prime Minister Michael Somare was reported as saying Monday.
Restarting operations will cost an estimated $4 billion, Australian media quoted Somare as saying at the opening of the PNG Mining and Petroleum Investment conference in Sydney.
The Panguna mine on PNG's eastern island of Bougainville shut down in May 1989 after sustaining damage during a secessionist uprising in which the issue of how income from the mine should be distributed was a key factor.
Bougainville's local media reported Monday that an agreement paving the way for the reopening of the mine had been reached with local landowners over the weekend.
"We are very satisfied on the meeting's outcome," the president of shareholder association European Shareholders of Bougainville Copper or ESBC, Axel Sturm told Islands Post's online edition. "This gives Bou…

SOMARE WANTS TO REOPEN PANGUNA IN TWO YEARS

PLATTS

Work to reopen the world-scale Bougainville copper mine after a 20-year hiatus can potentially begin within two years, Papua New Guinea Prime Minister Michael Somare was reported as saying Monday.
Restarting operations will cost an estimated $4 billion, Australian media quoted Somare as saying at the opening of the PNG Mining and Petroleum Investment conference in Sydney.
The Panguna mine on PNG's eastern island of Bougainville shut down in May 1989 after sustaining damage during a secessionist uprising in which the issue of how income from the mine should be distributed was a key factor.
Bougainville's local media reported Monday that an agreement paving the way for the reopening of the mine had been reached with local landowners over the weekend.
"We are very satisfied on the meeting's outcome," the president of shareholder association European Shareholders of Bougainville Copper or ESBC, Axel Sturm told Islands Post's online edition. "This gives Bou…