Bougainville Copper Agreement

1995: agreements between lihir integrated Benefits Package Agreements. 1. The agreement may be amended by another agreement or agreement between the Prime Minister on behalf of the state and society. At least it was the adoption in the legislation. But after settling its accounts with the BCL, the national government still had an account to agree with the Bougainvilleans, who threatened to separate from the independent state of Papua New Guinea and take away their renegotiated source of income. The first price paid for their loyalty to the nation was an agreement to return all mineral licences to the province from which they originated, and the second prize was the organic law authorizing the creation of provincial governments (Conyers 1976). By 1966, the House of Assembly had already attempted to secure the political support of the landowners of Panguna by agreeing to grant them 5 per cent of the royalties of the mine. The remaining 95% will become the main source of revenue for the provincial stenox government, whose share of mineral resource “ownership” has been recognized in addition by the granting of effective veto power for other mineral explorations in the province. 2.

Another agreement, under subsection 1, is not effective or effective until the head of state issues the notice of authorization to the National Journal. 1989: Agreements of the Porgera Development Forum concluded. “agreement”: the agreement, the copy of which is amended in Schedule 1 of the Annex 2 agreement, in which this agreement still varies in Section 3 in order to conclude this agreement in its different form; The administration`s approach (at Canberra`s request and insistence) is documented in the following chapters on land negotiations and the agreement with the company. On the other hand, it was inflexible and irrational in the present circumstances. The story culminates in the fascinating and appalling transcript of the local government official, when women were dragged by the police in August 1969 by the way of bulldozers in Rorovana. The tax breaks granted in the Original Copper Agreement in Bougainville are partly due to the economic development strategy advocated by the World Bank to the Australian colonial administration in 1963 (IBRD 1965). The central objective of this strategy was to encourage rapid growth in raw material exports by attracting foreign investment in large forestry and agricultural projects. But when the Panguna-Orebody was discovered in 1964, a large-scale mining project was soon added to the shopping list.

One way to encourage the rating agency`s investment in the project was to limit the ratio between production-based and profit-based taxes, regardless of the length of the tax holidays that should be granted during the investment recovery phase. Thus, the licence fee was set at 1.25 per cent of the value of mine production, which was very low by the criteria of the time. When the tax holidays were renegotiated in 1974, there was no question of increasing the share of production-based taxes in the entire tax package. On the contrary, the new package was a more subtle expression of the budgetary principle set out in the original agreement, which is one of the reasons why it was appreciated by both the World Bank and the Australian government.