BOUGAINVILLE COPPER ANNOUNCES A SIGNIFICANT INCREASE IN ITS RESOURCE BASE
Bougainville Copper Limited is currently completing a revised order of magnitude study (OMS) that evaluates the technical and financial requirements to redevelop the Panguna Mine. This study informed an updated Mineral Resource statement.
Bougainville Copper Limited (BCL) is owned by Rio Tinto (53.83 per cent) and the Government of Papua New Guinea (19.06 per cent) with the remaining 27.11 per cent publicly owned. Panguna is a large porphyry copper‐gold deposit located on Bougainville Island, Papua New Guinea. BCL operated the Panguna open pit mine from 1972 until 1989 when mining was suspended due to militant attacks on company personnel and operations.