Key current activities and issues that will interest stakeholders
Bougainville Copper Limited (BCL) is making meaningful progress towards realising the vision of returning to active exploration and profitable, sustainable mining in Bougainville, under a New Panguna project.
A staged re-development plan, which has been endorsed by the Autonomous Bougainville Government (ABG), the PNG national government and landowners, is guiding BCL’s activities.
The plan has four key stages, including:
- Overcoming immediate challenges to development (stage zero).
- Demonstrating project viability as well as strong and sustained stakeholder support to secure feasibility funding.
- Undertaking bankable feasibility study, obtain necessary permits and approvals and funding to build and operate.
- Building the mine.
Important benchmarks are being met under stage zero and BCL has increased engagement with Bougainville stakeholders as relationships continue to develop and strengthen.
Through our direct engagement with landowners for example, excellent progress has been made towards finalising outstanding land occupation fees from 1990 following the Panguna mine’s original closure.
Building trust and goodwill is essential to gaining safe and secure access to mining project sites in order to carry out preliminary works and assessments. In this regard, a number of initiatives are being driven and public forums have also been held in landowner communities.
The formation of a project Joint Steering Committee (JCS) – with the strong backing of both the ABG and PNG national government – represents another notable milestone.
The JSC will be representative of all key stakeholders and will recommend further steps to advance the New Panguna project.