Bougainville Copper Limited Prepared to Assist Government

By: PNG Business News November 18, 2021

Photo credit: Bougainville Copper Limited

Bougainville Copper Limited (BCL) is prepared to assist the government and the people of Bougainville.

Sir Mel Togolo, Chairman of the BCL Board of Directors, shared this sentiment, saying that the business stands ready to assist ABG in generating the type of money it needs to grow its economy.

Sir Mel claimed that the ABG Government and the people of Bougainville now control 36 per cent of BCL and that the company must help the country's economic revival.

He claimed that after the National Government's remaining 36 per cent shares are transferred to Bougainville as promised by Prime Minister James Marape, Bougainville would own 72 per cent of the company, with private stockholders owning the remaining 28 per cent.

Sir Mel went on to say that this is true independence for Bougainville, and that it will spur additional economic activities for Bougainvilleans who will be able to run private service contracts, which will spur further economic activity in our villages.

“Bougainvilleans need to make up their mind to start exploration operations before 2025.

“The quicker we start something the better for Bougainville.”

Sir Mel further stated that BCL, as a local firm, continues to accept requests for financial help from organisations in Bougainville as part of its community commitments.

On Bougainville, it has helped with school fees, other educational support, health care, sports, religious groups, youth and women's groups, and communication and tourist activities.

When workers, contractors, and the firm itself pays taxes to ABG, the Chairman claims that the corporation can still earn enough revenue for Bougainville's economic recovery program using cutting-edge technology.

Sir Mel indicated that BCL is ready to begin work provided the ABG and its people, particularly the Panguna landowners, grant their approval.


Reference: Post-Courier (16 November 2021). “BCL Ready To Rescue Bougainville”. 

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