Subiaco, Western Australia (FSCwire) - RTG Mining Inc. (ASX:RTG, TSX:RTG) (“RTG” or “the Company”) is pleased to announce that following its nomination as the preferred development partner of the Panguna Landowners Association - the Special Mining Lease Osikaiyang Landowners Association (“SMLOLA”) and the establishment of the joint venture between RTG and its subsidiaries and Landowners through Panguna Minerals Limited (formerly CMEL), the Consortium was invited to present their redevelopment proposal for Panguna to the House of Representatives, held on Thursday, 6 September 2018.

 

The Panguna Mine, located in Central Bougainville, was reported as the largest open pit mine in the world in its day, contributing approximately 40% of the total economy of Papua New Guinea while operating. The mine was closed down in 1988 due to widespread community concerns over the previous operator’s treatment of the environment and inequitable benefit sharing amongst the Landowners. The SMLOLA are working with the Autonomous Bougainville Government (“ABG”) and the members of the House of Representatives to win their support for this important Panguna Landowner led initiative. As owners of the resource at Panguna, the members of the SMLOLA recognise the importance of the mine to the future of the whole of Bougainville and empowering the ABG to lead Bougainville towards a brighter future, emphasizing the importance of a material stake in the mine for the ABG as well as Landowners.

 

The Landowner led Consortium last week formally presented its proposal to a number of the members of the Autonomous Region of Bougainville House of Representatives. This led to the SMLOLA announcing they had won the support of the House of Representatives Committee from Central Bougainville for its proposal on Panguna, together with support from members throughout Bougainville. The SMLOLA continue to be sensitive to the wishes of the ABG and have refined and amended their proposal as requested by the ABG. The Landowners are working hard to win the support of the ABG, which is an ongoing process.  A number of Ministers in the ABG have recently indicated that they have a number of concerns which were based on incorrect information, which is being corrected for the benefit of the ABG and all members of Parliament.

 

RTG is also pleased to provide a further important update on its community engagement program on Bougainville which is critical to the success we have had in building and continuing to strengthen the Social Licence in Bougainville.

 

The Panguna Landowners and RTG believe a Social License is the most critical issue to ultimately winning the support of the ABG and the wider community. The Joint Venture is committed to working diligently to continue to constructively engage fully with the Panguna community.

 

This has included an extensive community awareness program in all the key villages which has resulted not only in a successful reconciliation of the leadership, but also a high degree of unity and the support of around 90% of available Blockholders across the broader membership base of the SMLOLA. This program of community engagement is ongoing and has been very well received, with support continuing to grow.

 

As part of this initiative RTG and SMLOLA also have a focused program to support both the Panguna community and the people of Bougainville. This program has already seen RTG and the Panguna Landowners jointly support a number of valuable community programs including;

 

• donating much needed and critical medicines to the new local Arawa Hospital;

 

• supporting schools and education;

 

• being the major sponsor of the Bougainville Day celebrations in Arawa;

 

• supporting the Women’s Federation who are committed to building peace and reconciliation on Bougainville; and

 

• sponsoring grass roots soccer in and around Arawa.

 

RTG and the Panguna Landowners are now pleased to announce their latest substantive commitment to supporting the Bougainvillean community - the sponsorship of grass roots rugby on Bougainville including the outstanding sevens Bougainvillean rugby team - the Black Orchids. The Black Orchids are about much more than just rugby, with the players also inspiring Bougainvilleans off the field and helping the community move forward with peace and reconciliation ahead of next year’s historic independence referendum. Many of these players are role models for the youth of Bougainville.

 

Mr Peter Tsiamalili, the President of Autonomous Bougainville Rugby said today, “this gesture of support by RTG is significant towards our efforts to compliment our ABG Government including all stakeholders on Bougainville working towards a United and Peaceful Bouganville.”

 

Mr Tsiamalili said “Rugby Union has proven to have United a nation, a great Example is how the great Nelson Mandela used Rugby Union to unite South Africa. The Journey of the Black Orchid Rugby Sevens Icon team of Bougainville has taken a leaf from Mandela. Only when the minds of our youths and our communities find peace and unity through their mindset then we will see a sustainable and liberated transformation.”

 

“We are delighted RTG and the Panguna Landowners have recognised the important role sport and particularly rugby can play in advancing the peace and reconciliation process on Bougainville. We very much look forward to working with a team that are committed to improving the quality of life and genuinely have the best interests of the people of Bougainville at heart.”

 

RTG and the SMLOLA look forward to their ongoing support of the community on Bougainville and continuing to be a force for positive change.

ABOUT RTG MINING INC

 

RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange. RTG is focused on developing the high grade copper/gold/magnetite Mabilo Project and advancing exploration on the highly prospective Bunawan Project, both in the Philippines, while also identifying major new projects which will allow the Company to move quickly and safely to production.

 

RTG has an experienced management team (previously responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited), and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.

 

ENQUIRIES

 

Australian Contact                                          US Contact

President & CEO – Justine Magee                Jaime Wells

 

Tel:                  +61 8 6489 2900                     Tel:                  +1 970 640 0611

Fax:                 +61 8 6489 2920                     Fax:

Email:              jmagee@rtgmining.com         Email:              jwells@rtgmining.com

 

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

 

This announcement includes certain “forward-looking statements” within the meaning of Canadian and applicable securities legislation. Statement regarding interpretation of exploration results, plans for further exploration and accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG’s expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG’s mineral projects; the need to obtain additional financing to develop RTG’s mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG’s mineral projects and other risks and uncertainties disclosed under the heading “Risk Factors” in RTG’s Annual Information Form for the year ended 31 December 2016 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com. The forward‐looking statements made in this announcement relate only to events as of the date on which the statements are made. RTG will not release publicly any revisions or updates to these forward‐looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

To view the original release, please click here

Source: RTG Mining Inc. (TSX:RTG)

To follow RTG Mining Inc. on your favorite social media platform or financial websites, please click on the icons below.

 

Maximum News Dissemination by FSCwire. https://www.fscwire.com

Copyright © 2018 FSCwire