Source: Post-Courier

A ONE-day meeting for the trust fund board responsible for the coordination of discussions on issues concerning Panguna mining and its subsequent re-opening was held in Buka yesterday.

The board, which is being chaired by the former Madang MP and Bougainville affairs minister Sir Peter Barter, was established with blessings from the members of the Joint Panguna Negotiations Committee, which comprises representatives from the Autonomous Bougainville Government, Panguna mine landowners, Bougainville Copper Limited and the national Government.

This will be the board’s second meeting after the first one was held in Port Moresby in May this year.

According to the director of the office of Panguna Negotiation, Raymond Masono, the purpose of yesterday’s meeting was to deliberate on two agendas, including the approval of the trust deeds that will set the guidelines on how the trust funds will be managed and on the appointment of an accounting firm that will be responsible for managing the funds from the trust account.

Mr Masono said on the second agenda, two refutable accounting firms have already expressed their interest and the board will be deciding which of these firms will be responsible for the management of funds.

He also gave an update on the purpose for establishing this board, before adding that Sir Peter was appointed as the chairman because of his experience and that he was an independent person without having connections or affiliations with any of the above members of the joint Panguna negotiations committee. Mr Masono said the other reason for the appointment was that Sir Peter has a heart to help Bougainville before adding that the ABG greatly supports and has trust in Sir Peter to perform this chairmanship role.

Meanwhile, Sir Peter said upon his arrival in Buka yesterday that as the chairman of this trust board, his decisions will not be influenced by any parties from the negotiation committee