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15 August 2014

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Axel, you may well be arguing the right - at law - of your shareholders but I wonder at the temerity of putting such a robust statement in public view.

What is BCL going to do in the face of equally robust, and now enlightened, counterpoints by a new generation of Bougainville leadership.

Will the choppers hover once more to inspire compliance or will there be fresh vision to announce new beginnings for revitalised industry prospects in a little nation scarred by the conflict of a generation?

I guess all the families who lost loved ones should sue for compensation too.

Ah .... isn't capitalism wonderful!

The new Bougainville mining law has to be considered as an arbitrary expropriation of Bougainville Copper’s shareholders by the Autonomous Bougainville Government and the Panguna landowners.

Therefore the European Shareholders of Bougainville Copper Limited (ESBC) claim that they have to be recompensed for the financial losses the investors bore during the last 25 years.

Furthermore the ESBC claims that they have to receive an adequate indemnity for wilful destruction of BCL’s mine site by local unlawful elements.

The ESBC also claim to be recompensed on future revenues from the Panguna mine as the current mining leases are expected to expire in about 20 years.

The European Shareholders of Bougainville Copper (ESBC) urge Rio Tinto as major shareholder of Bougainville Copper Limited to take further legal action to safeguard the shareholder’s interest.

The ESBC claim amount to a total of USD 24 billion (PGK 58 billion).

The defendants to be sued in this law suit should be the Independent State of Papua New Guinea, the Autonomous Bougainville Government, the local landowners of the BCL leases, Philip Miriori as representative of self-appointed Me'ekamui Government of Unity on Bougainville, the other Me’ekamui organization branches, and former Bougainville Revolutionary Army leaders such as Sam Kauona, Chris Uma and others as well.

Thanks, Keith. The situation is obviously very complex.

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