Bei Reserven von +100 Billion US$ in der Pangunamine, einer 28km langen ausgebauten Zufahrtsstrasse, einem operativen Hafen u. dem wahrscheinlichen Zugriff auf 7 zusätzliche Lizenzen sollte RIO an einem bedeutend höheren Kurs interessiert sein ;-)))))
Rio Tinto (Xetra: 855018 - news) in early stages of talks with Bougainville government
* Sale of Bougainville Copper (Other OTC: BOCOF - news) stake an option
* Any reopening of mine would be years away -BCL Chairman (Adds comment from Bougainville Copper chairman)
MELBOURNE, Aug 18 (Reuters) - Rio Tinto is set to decide on its stake in a long-dormant copper mine in Papua New Guinea's Bougainville after the passage of a new mining law on the island, with the company possibly pulling out of the project after a quarter of a century.
The interim mining law converts Bougainville Copper Ltd's mining lease into an exploration lease. That can be converted to a mining lease if approved by the autonomous province's government, which now controls resources on the island.
"In light of recent developments in Papua New Guinea, including the new mining legislation passed earlier this month by the Autonomous Bougainville Government (ABG), Rio Tinto has decided now is an appropriate time to review all options for its 53.83 per cent stake in Bougainville Copper Limited (BCL)," the company said on Monday.
Rio Tinto declined to comment on what was the most likely outcome of its review or how soon a decision would be made. Selling its stake would be an option.
A secessionist rebellion on Bougainville in 1989 stopped mining at BCL's Panguna mine. The mine produced some 3 million tonnes of copper and 9.3 million ounces of gold over 17 years.
The company has been in talks with the government of Papua New Guinea, the Autonomous Bougainville Government and landowners about whether to return. BCL's chairman said those talks were at a very early stage.
Chairman Peter Taylor said it was unclear what Rio Tinto was going to do with its stake, but added that he did not expect BCL to buy it.
He did not know whether any company has approached Rio to buy its stake in BCL, but said no firm had contacted BCL about a takeover or investing in development of the mine.
"BCL is committed to reopening the mine," Taylor told Reuters by phone from Sydney, adding that BCL would need to complete a bankable feasibility study before deciding whether to go ahead with the project.
It would then would need to gain a mining lease, order equipment, rebuild some roads and an export port.
"At the most optimistic, it's going to take a lot of years to get this mine open even if everything goes right," he said.
Bougainville Copper shares rose 2.5 percent to A$0.41 in a flat broader market.
(Reporting by Sonali Paul; Editing by Michael Perry and Joseph Radford)
dass es eine kleine bieterschlacht gibt. 2 oder noch besser 3 heisse interessenten mögen sich finden und die anteile von rio kaufen. zu einem kurs deutlich über nun aber.... nekro, willste mit dem neuen thread in die top 10 der ariva statistik?
An abandoned mine with a potential copper and gold resource worth more than $60 billion is in play after Rio Tinto Group (RIO) said it?s reviewing its controlling stake in the company that owns the deposit in Papua New Guinea.
Laws passed this month by the provincial government of Bougainville prompted the review of Rio?s 53.83 percent stake in Bougainville Copper Ltd. (BOC), the London-based company said today in a statement.
Bougainville Copper?s main asset is the Panguna mine, on Bougainville Island, which was shut by local protests in 1989 amid unrest that included attacks on staff and operations, according to company filings. Reopening the mine may cost more than $4 billion, Papua New Guinea?s then-prime minister Michael Somare estimated in December 2010.
The Port Moresby-based company surged 18 percent to 47 cents in Sydney, giving it a market value of A$188.5 million ($176 million), the highest in two months. Rio was little changed. Bougainville Copper last year estimated the resources in the ground at Panguna at 5.3 million metric tons of copper and 19.3 million ounces of gold. That?s worth $61.5 billion at today?s prices.
Should Rio opt to sell the stake, the company has shown it?s ?adamant that it isn?t giving away assets cheaply at the moment,? Adrian Wood, a Sydney-based analyst at Macquarie Group Ltd. said by phone. ?If they don?t get the value here, they are not going to give it away.?
Ich hab mir ja auch immer eigebildet, wenn die Wiedereröffnung verkündet wird, explodiert der Kurs. Dem ist natürlich nicht so, wie wir gerade sehen. Trotz einer immer positiveren politischen Entwicklung seit einem Jahr ist der Kurs immer weiter abgebröckelt. Es war eine infame Strategie, neben den ständig positiveren Nachrichten vermeintliche Rückschläge und Hindernisse einzubauen. Es hat voll gewirkt. Von denen, die zwischen 0,6 und 1,4 Euro eingekauft haben, hat es keiner gewagt, bei 0,27 nachzukaufen. Die Verunsicherung war einfach zu groß. Die Langinvestierten, die den Durchblick hatten, hatten es nicht nötig, nachzukaufen. Der Sack war längst zugemacht.
Unsere Zittrigen werden natürlich auch noch nachkaufen. Aber erst, wenn der Kurs über 1 Euro steht. Dann kommt Panik auf.
die US-Investmentbank Goldman Sachs verbreitet weiterhin ihre negative Goldpreis-Prognose. Chef-Analyst Jeffrey Currie betonte in den vergangenen Monaten immer wieder öffentlich, man erwarte, dass der Goldpreis bis Jahresende auf 1.050 Dollar pro Feinunze sinkt.
Und einmal mehr stehen die Aussagen der Goldman-Sprecher in Widerspruch zu dem, was deren Handelsabteilungen umsetzen.
Lesen Sie dazu: Goldman Sachs erhöht Gold-Investment um 39 Prozent
Rio?s chances of successfully reopening the mine fell this month when the autonomous government that now controls Bougainville stripped the mine?s operating company of its mining and exploration licences. An act by the autonomous region?s parliament in effect gives Bougainville Copper Limited, the mine?s operator, only an exploration licence and a right of first refusal over its renewed operation. Rio, which controls Panguna through a 53.8 per cent stake in BCL, said on Monday the legislation made it an ?appropriate time to review all options? for its holding. BCL had been in talks with the autonomous government, as well as with the government of Papua New Guinea and landowners on Bougainville, over a possible return to Panguna. Reopening Panguna would be costly, according to Rio. Its annual report says a $5.2bn investment would be needed to reopen the mine with new infrastructure, according to a study completed by BCL last year. Rio?s renewed presence on the island could also be controversial, after the civil war that erupted in 1989 lasted a decade and cost 20,000 lives, according to some estimates. Panguna produced about 550,000 tonnes of copper concentrate in 1988, its last full year of operations. It is estimated to have remaining resources of at least 4.6m tonnes of copper and 16m ounces of gold, although the estimates rely on data gathered before the 1989 shutdown. As it is, the mine is largely irrelevant to Rio?s strategy for its copper division, which is based on output from four large mines ? in Mongolia, Chile, the US and Indonesia ? as well as two projects that are inching towards board approval. The mine is largely irrelevant to Rio?s strategy for its copper division Under Sam Walsh, chief executive, and Jean-Sébastien Jacques, head of copper, Rio has been cutting out projects that executives think have little chance of advancing and are consuming management time. A sale by Rio of its interest in Panguna would follow its decision this year to withdraw from Pebble, a copper project in Alaska that many observers think will be very difficult to develop amid environmental concerns. Anglo American also withdrew from Pebble, underscoring how the world?s largest miners are trying to cut down bloated asset portfolios. While Rio handed its Pebble stake to a group of local organisations, it is likely to try to seek a buyer for its BCL stake. BCL, which remains listed in Australia, has a market capitalisation of A$188m. Its shares rose 17.5 per cent on Monday. Rio was up 0.2 per cent in morning trading in London.