The Autonomous Bougainville Government (ABG) has rejected a proposal that would have watered down its stake in Bougainville Copper Limited (BCL)—which owns the Panguna copper mine, one of the world’s largest—to a Chinese-controlled entity.
Instead, the ABG will turn to an Indian firm to reopen Panguna, which is estimated to contain around 1 billion tonnes of copper and 12 million tonnes of gold, as well as the hopes of the region’s economic future post-independence.
The government was told last year that the mine has over 20 years of production remaining and would likely generate revenue of approximately US$28 billion. BCL was granted a five-year exploration licence in 2024….
Bougainville Rejects China and Turns to India to Reopen Massive Copper Mine
