Latest news with #Marape
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2 days ago
- Business
- Scoop
PNG hands over majority stakes in BCL to Autonomous Bougainville Government
The Papua New Guinea government is preparing to transfer its 36.45 percent ownership in Bougainville Copper Limited (BCL) to the Autonomous Bougainville Government. This transfer, valued at over PGK140.3 million (approx. NZ$56m) at current market rates, is expected to be formally announced by Prime Minister James Marape on Thursday. The transfer includes 146,175,449 ordinary shares in BCL. These shares are currently held by the State through the Department of Treasury and Eda Minerals Limited, a fully-owned subsidiary of Kumul Minerals Holdings. This represents a total of 36.45 percent of BCL's issued capital, in two separate tranches of 19.06 percent and 17.39 percent share respectively. The transfer follows a decision by the National Executive Council for the people of Bougainville to own the shares currently held by the State. This decision also meets a directive from the Joint Supervisory Body (JSB) in its meeting on 12 March 2020 for the State's 36.45 percent shareholding in BCL to be transferred to ABG. "I am pleased to see us making progress in this matter," Marape said. "It is our expressed commitment to transfer the entirety of the 36.45 percent shareholding to the government of Bougainville so the landowners of Panguna and the people of Bougainville can benefit better in the mine." The transfer of shares will result in the ABG and the people of Bougainville assuming ownership of 72.9 percent of BCL's issued capital. This transfer is being carried out at no cost to the ABG. Bougainville Copper Limited is a publicly listed company on the Australian Stock Exchange. Its share price is currently trading at AU$0.39 per share. The current market value of the shares being transferred to the people of Bougainville through ABG is AU$54,742,705. When converted to PNG currency, this is worth PGK140,365,511. Marape commended the ABG leadership of President Ishmael Toroama. He said this is a mutually reached decision on both sides that reflects the work of the two governments.
Scoop
5 days ago
- Politics
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Prime Minister Marape Reinforces PNG's Commitment At MSG
Papua New Guinea's Prime Minister, James Marape, arrived Sunday in Suva, Fiji, to attend the 23rd Melanesian Spearhead Group (MSG) Leaders' Summit. The summit, chaired by Fiji this year, brings together leaders from all Melanesian states and the FLNKS (Kanak and Socialist National Liberation Front of New Caledonia) to address shared priorities such as climate action, trade, regional security, and decolonisation efforts. Prime Minister Marape is accompanied by the higher education minister, Feo Kinoka. His attendance underscores Papua New Guinea's commitment as a founding and senior member of the MSG, an organisation established in 1986 to strengthen political, economic, and cultural ties among Melanesian nations. Vanuatu has handed over its role as chairperson to Fiji. This transition preceded the formal opening of the MSG Leaders Plenary meeting and a closed-door Leaders' Retreat. Prime Minister Marape is expected to deliver Papua New Guinea's country statement, reaffirming the nation's dedication to strengthening MSG cooperation while reinforcing broader regional partnerships through the Pacific Islands Forum (PIF). "The Pacific region stands at a crossroads. We must take a proactive approach to safeguarding our sovereignty, protecting our resources, and ensuring that our voices are heard on the global stage. Our collective efforts must also voice strongly against human rights abuses in our region and for respect for all our people and members of our Pacific Islands Forum (PIF), the Melanesian Spearhead Group community, and others." He is also anticipated to advocate for reforms within regional organisations to ensure they remain responsive, inclusive, and capable of meeting current and future development and security challenges. A significant aspect of Prime Minister Marape's engagement in Fiji includes high-level political talanoa consultations with the Eminent Persons Group (EPG) of the PIF. These discussions are taking place on the sidelines of the MSG Leaders' Meeting and are part of a wider regional effort led by the PIF to enhance Pacific solidarity and strategic cooperation. The talanoa process will focus on critical issues such as regional security, climate change, fisheries resource management, political governance, national sovereignty, and the institutional reforms of both regional and sub-regional groupings in the Pacific. Prime Minister Marape has consistently called for a reformed and united Pacific architecture, and he is expected to advocate for stronger collaboration between MSG members and the wider Pacific community. He has emphasised the importance of regional ownership, institutional capacity-building, and ensuring that regional decision-making remains grounded in Pacific cultural values while embracing innovation, inclusion, and resilience. The United Liberation Movement for West Papua (ULMWP) is present at the MSG meeting as an observer, and there have been calls for West Papua to be included as a full member of the MSG. This ongoing discussion reflects a persistent aspiration for greater recognition and self-determination for West Papua within the Melanesian family. It is understood that Prime Minister Marape will also highlight his discussions with French President Emmanuel Macron on New Caledonia. These discussions typically centre on the decolonisation process in New Caledonia and the future of the FLNKS, which is a member of the MSG, reflecting a shared regional interest in the self-determination of the Kanak people.
Scoop
10-06-2025
- Politics
- Scoop
Bougainville Independence Talks Underway At Military Camp Near Christchurch
In 2019, 97.7 percent of Bougainvilleans voted for independence. RNZ Pacific Bougainville independence talks have started just outside of Christchurch, in New Zealand's South Island, between the governments of Papua New Guinea and Bougainville. In 2019, 97.7 percent of Bougainvilleans voted for independence. The referendum, though mandated by the 2001 Peace Agreement, was not binding. Both governments are now debating the rules by which the results of a referendum on independence are tabled in parliament. The discussions at Christchurch's Burnham Military Camp focus on finalising the process to bring the referendum results before PNG's Parliament. Papua New Guinea Prime Minister James Marape called Burnham the spiritual home of the Bougainville peace process. The military camp hosted pivotal talks in 1997 that helped end the Bougainville civil war. Marape said the Era Kone Convenant committed both governments to present the referendum before PNG's parliament in 2025. Bougainville has stated that it expects to be independent by 1 September 2027. It has established a Constitution Commission and included it within the region's autonomous parliament. The Christchurch meetings are closed to the media. New Zealand's Ministry of Foreign Affairs and Trade refused to share with RNZ Pacific a list of who will be attending the meeting.
Scoop
10-06-2025
- Politics
- Scoop
Bougainville Independence Talks Underway At Military Camp Near Christchurch
Article – RNZ In 2019, 97.7 percent of Bougainvilleans voted for independence. RNZ Pacific Bougainville independence talks have started just outside of Christchurch, in New Zealand's South Island, between the governments of Papua New Guinea and Bougainville. In 2019, 97.7 percent of Bougainvilleans voted for independence. The referendum, though mandated by the 2001 Peace Agreement, was not binding. Both governments are now debating the rules by which the results of a referendum on independence are tabled in parliament. The discussions at Christchurch's Burnham Military Camp focus on finalising the process to bring the referendum results before PNG's Parliament. Papua New Guinea Prime Minister James Marape called Burnham the spiritual home of the Bougainville peace process. The military camp hosted pivotal talks in 1997 that helped end the Bougainville civil war. Marape said the Era Kone Convenant committed both governments to present the referendum before PNG's parliament in 2025. Bougainville has stated that it expects to be independent by 1 September 2027. It has established a Constitution Commission and included it within the region's autonomous parliament. The Christchurch meetings are closed to the media. New Zealand's Ministry of Foreign Affairs and Trade refused to share with RNZ Pacific a list of who will be attending the meeting.
Scoop
10-06-2025
- Politics
- Scoop
Bougainville Independence Talks Underway At Military Camp Near Christchurch
Bougainville independence talks have started just outside of Christchurch, in New Zealand's South Island, between the governments of Papua New Guinea and Bougainville. In 2019, 97.7 percent of Bougainvilleans voted for independence. The referendum, though mandated by the 2001 Peace Agreement, was not binding. Both governments are now debating the rules by which the results of a referendum on independence are tabled in parliament. The discussions at Christchurch's Burnham Military Camp focus on finalising the process to bring the referendum results before PNG's Parliament. Papua New Guinea Prime Minister James Marape called Burnham the spiritual home of the Bougainville peace process. The military camp hosted pivotal talks in 1997 that helped end the Bougainville civil war. Marape said the Era Kone Convenant committed both governments to present the referendum before PNG's parliament in 2025. Bougainville has stated that it expects to be independent by 1 September 2027. It has established a Constitution Commission and included it within the region's autonomous parliament. The Christchurch meetings are closed to the media. New Zealand's Ministry of Foreign Affairs and Trade refused to share with RNZ Pacific a list of who will be attending the meeting. © Scoop Media
