Shareholder Release – 20 Oct 2017

The New Panguna Project Update

In 2017, Bougainville Copper Limited (BCL) continues to make progress in implementing our staged redevelopment plan for a new Panguna project.

BCL has established a management and operating team in Bougainville and opened an office in Buka. In August BCL held its first board meeting in Bougainville in more than 27 years. BCL continues to respectfully build relationships with a range of stakeholders, including project area landowners and is increasing its presence in central Bougainville through the engagement activities of our local team.

BCL is pleased that it has been informed by the Department of Mineral and Energy Resources of the Autonomous Bougainville Government (ABG), that its application for the five-year extension of our exploration licence EL1 covering the Panguna mine area, has now been registered for the tenement renewal process under the Bougainville Mining Act 2015 (the Act). We welcome the commencement of the formal renewal process which includes community consultation.

In the interim, BCL continues to hold EL1 under Section 101(3) of the Act.

GEOGRAPHY
The Autonomous Bougainville Region consists of 168 islands with the most populated being the large island of Bougainville and the smaller island of Buka to its north, separated by the narrow Buka Passage.
PEOPLE
Bougainville displays great cultural diversity in a relatively small region. Although the cultures share some commonalities, there is a range of traditional beliefs, customs and languages.
REGIONAL HISTORY
Bougainville has a long human history with the first inhabitants arriving around 29,000 years ago. In 1643, the inhabitants of Takuu and Nissan atolls had the first recorded contact with Europeans from an expedition led by Dutch explorer Abel Tasman.

OUR IMAGE GALLERY

Out and about in Bougainville

Postal Address: PO Box 1274 Port Moresby, NCD Papua New Guinea

Phone: +(675) 309 2800

Fax: +(675) 309 2898 Email: info@bcl.com.pg

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