PNG may talk Sunday about more Bougainville exploration Source: Dow Jones
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Papua New Guinea Mining Minister Sam Akoitai is expected to hold a briefing Sunday after local press reports he is in London to talk to Rio Tinto PLC about reopening Bougainville Island to mining companies.
Akoitai will return to Papua New Guinea from London Sunday and will likely hold a press conference, his office said Tuesday. The office wouldn't confirm reports Akoitai was in London to push to open mining on Bougainville.
Akoitai said he may discuss the lifting of a moratorium on Bougainville which bans anyone but the Rio Tinto-controlled Bougainville Copper Ltd. from exploring on the island, the Papua New Guinea Post-Courier reported Tuesday. The Panguna copper mine, then the world's third largest, was shut in May 1989 due to seccessionist-led violence.
A Melbourne-based Rio Tinto spokesman said he couldn't immediately say if the reports of the meeting or the minister's intentions are correct.
Rio Tinto owns 54% of Bougainville Copper, whose chairman Peter Taylor and company secretary Paul Coleman couldn't be immediately contacted Tuesday.
Taylor said in July that Bougainville Copper was ready to talk to Papua New Guinea officials about a US$1 billion-plus revival of its former Panguna mine, following the death the same month of Bougainville rebel leader Francis Ona.
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