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Showing posts with the label Pogera

HOW 25% OF PORGERA WAS MERGED WITH A K2 COMPANY

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By Sam Kaupa WE HAD 25% OF PORGERA IN THE 90s. WE MERGED IT WITH A K2 COMPANY WHICH CREATED PNG FOCUSED AUSTRALIAN OIL AND GAS COMPANY,  OIL SEARCH LTD– AND NOW WE WANT PORGERA BACK AT COST – A TALE SHROUDED IN HIGH LEVEL CORRUPTION AND CONTROVERSY MASTERMINDED BY GREEDY POLITICIANS AND THEIR COHORTS. When our forefathers gained independence in 1975 they established the Mineral Resources Development Company Limited (MRDC) which was 100% owned by the Government of Papua New Guinea. MRDC was incorporated on 27th May 1975 under the Companies Ordinance 1966.  It was not until 1981 that it became fully functional as a company entrusted with the duty to manage mining and petroleum resource equity interests on behalf of the State and Landowners.  It was the ultimate State Nominee to acquire the State and Landowner equity interests in mining and petroleum projects and to manage the equity funds for landowner companies from the major resource development areas of PNG. In 1996 during Sir Julius

PUKPUKS HUMBLED A WIGMAN TO SURRENDER POGERA

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by JAMES TEMO Anthony Smare Country Director of Barrick Gold in PNG has been a beneficiary and close family friend of Somare family for many years. Close friends and associates close to the two men confirm their very close relationship going back many years. It is no wonder Anthony Smare engaged Arthur Somare to start the negotiations with the Land Owners of Pogera when the lease expired last year. Somare was paid as a Barrick Lobbyist or the go between Barrick and the Government to ease tensions and allow for Barrick to keep the status-quo and run the mine without reviewing the licensing agreements.  This has has not gone down well with Landowners who wanted to know why Arthur Somare was involved in yet another screwed up negotiations, remember Arthur screwed up the LNG project nearly selling out PNG. Firstly, Arthur mortgaged the State’s existing 18% shares in Oil Search Limited (OSL) to borrow heavily from Dubai based Arab financiers to finance the State’s equity in PNG LNG. Arthur

WE WILL NOT CHANGE THE GOAL POST - PM

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by JAMES MARAPE MP, PRIME MINISTER To all PNG miners (those in both operations and explorations) we will not change goal posts in between. PNG is a robust democracy that honors all agreements to the text and spirit, congruent to our mining act. Major amendments to the resource law regimes we doing will be effected post 2025 and will not affect those agreements secured under present regimes. You can have that comfort. However Pogera is a special case and is an exception because Barrick’s lease expired on 18th August 2019. My letter to Barrick is on it’s way and will explain this and also allude to formal and legitimate processes of government including MAC’s deliberation that refused application for lease renewal. I have my country’s 8million shareholders including the people of Ipili, Pogera , Enga, environmental footprint areas plus present mine workers to look after. Now that your lease has expired, the legal process is there for Barrick to comply so you can maintain your oper

An opportunity to kickstart PNG economy

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Rowan Callick The Australian THE Bougainville mine's development was fast-tracked by the Australian government. This occured when pressure built at the UN for Canberra to grant early independence to Papua New Guinea. The mine was intended to provide the new nation with solid income in addition to aid. In the 17 years from 1972 to 1989, it contributed about 44 per cent of PNG's exports, about 17 per cent of the government's revenue, and 10 per cent of PNG's gross domestic product. It employed 2800 people. The mine had been built by Rio Tinto in the face of landowner opposition. Women -- through whom land in much of Bougainville is inherited -- lay down in front of bulldozers. It took until 1980 for the original compensation package to be signed with 600 families. PNG's decentralisation to 20 provincial governments resulted from Bougainville's threat to pull of PNG in 1976, a fortnight before Australia was due to declare it independent -- threatening to rob the ne

An opportunity to kickstart PNG economy

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Rowan Callick The Australian THE Bougainville mine's development was fast-tracked by the Australian government. This occured when pressure built at the UN for Canberra to grant early independence to Papua New Guinea. The mine was intended to provide the new nation with solid income in addition to aid. In the 17 years from 1972 to 1989, it contributed about 44 per cent of PNG's exports, about 17 per cent of the government's revenue, and 10 per cent of PNG's gross domestic product. It employed 2800 people. The mine had been built by Rio Tinto in the face of landowner opposition. Women -- through whom land in much of Bougainville is inherited -- lay down in front of bulldozers. It took until 1980 for the original compensation package to be signed with 600 families. PNG's decentralisation to 20 provincial governments resulted from Bougainville's threat to pull of PNG in 1976, a fortnight before Australia was due to declare it independent -- threatening to ro