RIO 0.69% $121.76 rio tinto limited

Press Release from Special Mine Lease Osikaiyang Landowners...

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    Press Release from Special Mine Lease Osikaiyang Landowners Association Inc. (“SMLOLA”)
    19 October 2017


    THE PEOPLE OF BOUGAINVILLE HAVE BEEN PROFOUNDLY MISLED-OFFICIAL RECORDS SHOW RIO TINTO STILL CONTROLS BCL

    -According to IPA records; Rio Tinto still controls BCL.
    -ABG has no shares in BCL.
    -No Prior Written Consent by ABG.
    -BCL’s registered office is still Rio Tinto’s HQ in Melbourne.


    The Chairman of the SMLOLA, Phillip Miriori said today that,

    “Rio Tinto advised the Australian Stock Exchange on 30 June 2016, that it had transferred its 53.8% of BCL shares to a trust company for distribution to the governments of PNG and ABG, resulting in each holding 36.4% of BCL – yet they are still listed as the shareholders – what are the real facts here, is Rio actually gone or not? Once again, we are not being given all the facts yet we are being asked to consent to the return of BCL. What does that actually mean, who will our partner actually be if the ABG gets their way?”
    “The purported Rio Tinto transfer of 53.8% of BCL shares to the trust company did not have the legally required “prior written consent” from the ABG. In fact, as far as we have been told, the ABG was not informed in advance of the transfer. Certainly, the landowners that now own the minerals were never consulted. Most importantly, have they actually been transferred – is Rio gone or is there just a temporary step to cover up the involvement of Rio later?”

    “All Bougainvilleans need to know the truth – is this just a sham? If, as the IPA records show, Rio Tinto still controls BCL with its 53.8% shareholding, we have been profoundly misled”.

    “Again, we are being treated as pawns in this game: the old guard from Rio and BCL are still playing against us all and the people of Papua New Guinea. The colonialists’ time is over. They must compensate us for the wrongs of the past and leave gracefully.”

    “On top of that, there is not one Bougainvillean on the Board of BCL – it is all PNG. How can this be? There are just too many unanswered questions as to who we are dealing with.”

    “We were told that the Rio Chairman of BCL, Peter Taylor, would resign after “he provides services during this transition period”. Why is Taylor still listed as a consultant on BCL’s Presentation for the development of Panguna? Seems that the only answer is Rio Tinto is attempting to run the show while pretending to have left Bougainville and its responsibilities. Rest assured, I will do my best to hold them to account for the irreparable damage done by them and for which they now try to shirk all responsibility”.

    “And to top it off, the Australian registered office of BCL remains Rio Tinto’s HQ in Melbourne”.

    “I demand the truth finally – how can you try and force BCL on the landowners when there are so many serious questions on who BCL is, who the development partner would be? ”

    “How could the ABG expect us to give the mine back to BCL. If the shares in BCL do at some point get transferred to the ABG, PNG or the landowners, how do we then sue them as we will be suing ourselves. If we let this farce continue, we will clearly be giving up our rights to compensation for the past atrocities. I will do my best to never let this happen.”


    Philip Miriori
    Chairman
    SMLOLA
 
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