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ESBC press release 20090420

Bougainville Copper woke up!

In May it will be twenty years that one of the biggest copper, gold and silver mines of the world, the famous Panguna open pit on the remote Papua New Guinea island shut down due to separatist unrest. But today there is light at the end of the tunnel: On the today’s Annual General Meeting of Bougainville Copper Limited (BCL), Peter Taylor, the company’s Chairman, gave a very positive outlook to the mine’s future. The President of the biggest group of private investors in Bougainville Copper, ESBC, Mr. Axel G. Sturm, showed himself extremely surprised: “We never expected such a detailed information from our board of directors”; Mr. Sturm said in Andorra. “Obviously the positive talks of BCL with new President of the Autonomous Government of Bougainville, Mr. James Tanis, and the permanent pressure from the ESBC (European Shareholders of Bougainville Copper) made our board of directors wake up. For a very long time we have been claiming for a more pro-active work of our management. The just published Chairman’s statement is really stunning compared to the poor statements of BCL in the past”, said Mr. Sturm, “It even can be used for a future road show! Now we are very keen to find out, what our management will answer to our 32 in-depth-questions that we sent them a couple of weeks ago.”


ESBC press release 20090217


Panguna not a taboo any longer!


The biggest group of private investors in Bougainville Copper, the ESBC, lauded on Tuesday the activities of ABG President James Tanis. “I am very happy that Mr. Tanis does not consider Panguna as a ‘sensitive issue’ as his predecessor, the late President Joseph Kabui did.” said ESBC President Axel G. Sturm in Andorra.


“The ESBC always claimed that all parties involved in mining in Bougainville get together and talk to each other”, said Mr Sturm. “Therefore the European Shareholders of Bougainville Copper strongly support Mr Tanis’ approach to politics by encouraging his people to dispose their weapons and to reconcile. Bougainvilleans have been living for two decades in pain and Mr Tanis is absolutely right when he says that the conflict has to end where it began: in Panguna! Panguna is not a taboo; Panguna is the source of Bougainville’s economic success in the future! The money that will be earned in Panguna will also encourage young Bougainvilleans who are now living abroad to come back to the island and work on its development.”


Mr Sturm outlined in particular the good work of BCL company secretary Paul Coleman: “I met Paul in Port Moresby last May and I learnt that he is a very serious and well informed man who invests all his power in bringing Bougainville forward. We would be very satisfied if all his efforts will have a positive outcome in the near future.”


Mr Sturm also pointed out that the financing of the Panguna re-opening should not be an obstacle: “Even if BCL major shareholder Rio Tinto weakens actually, the World Bank told us that they intend to support the resuming of mining in Panguna. We only hope that the positive perspective will not be endangered by immodest claims of few. There is no doubt that outstanding matters like compensation of landowners and environmental issues have to be brought to a solution that will satisfy all parties concerned.”



ESBC press release 20090317


Biggest Reference Book of PNG and Bougainville Abbreviations ever!


The biggest group of private investors in Bougainville Copper, the ESBC, published on Tuesday in Europe a remarkable and unique work: An actual dictionary of abbreviations and acronyms used in PNG and Bougainville.  The ESBC gathered round about 160 shortened terms in an online reference book – that is open to everybody in the internet.


“Our online-glossary shall help all those people in PNG and abroad to find out what is meant by the abbreviations regularly used on the ground,” said ESBC President Axel G. Sturm. “We believe that this might be an excellent service to all who are interested in PNG and Bougainville – it is not made for businessmen and diplomats only. It is a free service for everyone who visits our homepage that is updated regularly. The explanations are given in English, German and French as well.”







The European Shareholders of Bougainville Copper (ESBC)