Kabui say he has the best deal for his people
By ISAAC NICHOLAS
PRESIDENT Joseph Kabui has promised the best deal for Bougainvilleans in regard to the deal between Bougainville Resource Development Corporation (BRDC) and Invincible Resource Corporation (IRC).
Mr Kabui said people making noises are those with vested interest who have missed out.
President Kabui who was flanked by ABG ministers including Joseph Watawi, Ezekial Masat,Taehu Pais and BRDC Chairman Robert Atsir told a media conference that BRDC was not a mining company but a vehicle to help landowners get maximum benefit from their resources.
He said ABG was still negotiating with the PNG government on the draw down of mining and petroleum powers and BRDC would was created to get maximum benefits out of resources in tourism, eco-forestry, fisheries and other renewable resources.
BRDC chairman Robert Atsir said the Bougainville economy was small and there was a need to attract foreign international financial investors and donors to invest in both renewable and non-renewable sectors.
He said IRC was an umbrella company representing investors in Canada, Europe and United States who have the capital, and technical know - how and confidence and trust in the current ABG government.
Mr Atsir said the arrangement was for the short to medium term as the IRC’s 70% are dilatable shares and when the operation started, shares could be bought back by Bougainvilleans.
“We will make sure Bougainvilleans buy back the majority of shareholding in IRC” Mr Atsir said.
President Kabui said the people making noises were the same ones trying to force him to buy into a company - New Bougainville Mining Limited.
“I told them I cannot commit the government to a company I have no knowledge about.”
Mr Kabui said the K20 million from IRC to ABG was not to mortgage Bougainville resources.
He said IRC was willing to risk it by putting in the K20 million when Bougainville was in dire need of funding.
“The K20 million is not a deal to mortgage resources in Bougainville. The money given was on faith, trust and confidence in ABG and they are willing to gamble that money away.”
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