BEC decision on gold as a restricted item within Bougainville

By: PNG Business News September 20, 2021

Photo Credit: Ilya Gridneff/AAP

The ABG Minister for Mineral & Energy Resources, Hon. Rodney Osioco, announced today that the Bougainville Executive Council (BEC) has endorsed for unlicensed gold and other minerals to be treated as “restricted items” at all port facilities (airports and wharves) in the Autonomous Region of Bougainville.

Under relevant National Government legislation, there are currently no restrictions on the domestic movement of gold. Restrictions only exist for exporting of gold and other minerals out of country; wherein relevant licenses are required from relevant authorities, including a Gold Exporting License from the Bank of PNG.

This BEC decision now provides the basis for collaborative working arrangements to be put in place on monitoring of port facilities for unlicensed gold and other minerals leaving Bougainville.

Minister Osioco says that work is in progress to put in place regulatory arrangements including the establishment of monitoring stations at all port facilities to monitor unlawful gold trading and to ensure that this sector contributes to government revenue.

“With this decision, there will be enforcement of provisions in the Bougainville Mining Act 2015 for Authorized Officers to seize, and forfeit to the State, all equipment used for unlicensed mining and all gold and other minerals that have been mined, removed, sold, or processed in contravention of the act. Those involved in unlawful transactions can also be penalized for their offences,” Osioco said.

It is envisaged that these restrictions will come into effect by end of 2021, with collaborative effort between relevant ABG and National Government entities to implement the BEC decision.

The general public is advised to report any unauthorized transactions, and consult the Department of Mineral and Energy Resources for additional information pertaining to this matter. Below is a list of entities/individuals licensed by the ABG as gold dealers and artisanal miners within the region, those not on this list are considered unauthorized and are encouraged to obtain relevant licenses for their activities. 

Licensed Gold Dealers for 2021

  1. Meekom Minerals Limited (Expiry date:17-Feb-22) 
  2. Bougainville Gold Exchange Limited (Expiry date: 17-Feb-22) 
  3. Boxville Investment Limited (Expiry date: 17-Feb-22) 
  4. Viscount International Gold Traders Limited (Expiry date:17-Feb-22) 
  5. Hoa Teina Gold Limited (Expiry date: 17-Feb-22) 
  6. Bonos Limited (Expiry date:17-Feb-22) 

Licence Artisanal/alluvial Miners

  1. Derevai Talings Limited (Expiry date: 1-May-23) 
  2. Bougainville Utility Services Limited (Expiry date:12-May-26) 
  3. Alphonse Mirina (Expiry date: 12-May-26) 
Article Courtesy of Autonomous Bougainville Government 

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