PM warns Momis on BCL shares

PRIME Minister Peter O’Neill has warned the Autonomous Region of Bougainville President John Momis “not to play politics” on the Bougainville Copper Limited shares.
Momis recently voiced his disappointment over the Government’s plan to transfer 17.4 per cent of BCL shares directly to the landowners and community stakeholders.
Momis had said this threatened the peace process and his government could well pull BCL’s exploration licence, which would make the shares worthless.
“We have had enough of this nonsense – the attempts to manipulate the peace process for political gain,” O’Neill said in a statement yesterday.
“The ABG is very welcome to participate in the consultation process with the landowners. But these shares will go to the people who have a direct stake in the mine.
“I really do not understand what President Momis is trying to achieve with this political grandstanding.
“The views of the ABG were taken into account by cabinet. But the decision of NEC is final and I hope President Momis can understand this.
“Our government is committed to advancing the peace process, and not play petty politics that can only undermine peace.
“I stated in Parliament last week that I have deliberately given these shares to the people so that the ABG does not have outright control – 53 per cent of the mine.
“I wanted a separate vehicle so that the landowners can meaningfully and directly participate in BCL.
“This is better for transparency and ensures that shares are in the hands of the traditional people to whom they belong.”