The Bougainville Mining Act 2015 (Mining Act) came into force on 1 April 2015.
Under the Mining Act, Bougainville Copper Limited (Company) is deemed to have held an exploration licence (EL) as at 8 September 2014 for a period of two years.
The Bougainville Mining Regulations 2016 have now come into effect, and accordingly, the Company has been provided with documentation from the Department of Mineral and Energy Resources confirming the grant of EL1 to the Company.
The grant of the EL took effect on 8 September 2014 and will expire on 7 September 2016. The Company intends to apply for renewal of EL1 under the Mining Act.
By Order of the Board