President Toroama highlights provisions of future landowner relationship

The Autonomous Bougainville Government has carefully captured a portion of royalty benefits and another important plan for major projects.

President of ABG Ishmael Toroama said they will ensure the requirement for landowner agreement for the project development phase must result in a very strong and positive relationship with the landowners.

He said that the positive and strong relationship with landowners from the very beginning is important as it will avoid conflict and disagreements in future and the new Mining Act 2015 is well captured.

“For royalty, there is currently a total of 3.75% royalty, royalties, payable for mineral processing are 1.5% for landowners, 1.25% for regional development purposes, 0.5% for support to Bougainville health and education, and 0.5% for production levy.

“We are currently amending the act to bring the total royalty from 3.75% to 5%,” President Toroama said.

The President emphasized that the Bougainville Mining Act 2015 outlines specific measures for addressing local content concerns related to employment opportunities, business activities, and other related issues.

He highlighted that the act encompasses comprehensive guidelines for the necessary plans that developers must submit when applying for a mining lease.

These plans encompass employment and training, procurement of goods and services, business development assistance, resettlement, as well as mine rehabilitation and closure.

President Toroama further stated that these crucial safeguards were incorporated into the Bougainville Mining Act 2015 following consultations that took into consideration grievances related to mining activities.