Licence extension paves way for Panguna redevelopment

Bougainville Copper has confirmed that the Bougainville government awarded a five-year extension of the company’s exploration licence for the Panguna copper project in Central Bougainville, an autonomous region of Papua New Guinea.

The extension clears the way for the miner to increase its activities in the Panguna project area in accordance with the Bougainville Mining Act of 2015. “Panguna promises to be a transformative investment for Bougainville that will support greater levels of economic self-reliance for the region,” said Chairman Sir Melchior Togolo.

Bougainville Copper said it will commence with advanced stage pre-feasibility and feasibility stage exploration activities over the coming years. Panguna, a large open pit mine, was in operation between 1972 and 1989.

Source: Bougainville Copper

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