Ann: Preliminary Final Report, page-2

The ABG, through its Department of Mineral and Energy Resources and other
relevant departments, will work together with the landowner groups to facilitate a
process towards the reopening of the mine.
While no decisions have been taken regarding a proponent, Bougainville Copper will
continue to constructively engage with landowners and the ABG in support of their
aims.
Legacy Impact Assessment
Bougainville Copper supports an agreement reached by Rio Tinto and residents of
mine-affected communities to identify and assess legacy issues linked to the Panguna
mine.
The Panguna Mine Legacy Impact Assessment will identify and assess actual and
potential environmental and human rights impacts and develop recommendations
for addressing them.
During the mine’s past operation Bougainville Copper Limited was majority-owned
by Rio Tinto. A multi-stakeholder committee, of which Bougainville Copper is one of
16 members, was established in conjunction with the ABG to oversee the legacy
assessment.
The oversight committee has conducted its first meeting and has endorsed a process
to identify a suitably qualified firm to carry out the technical impact assessment
work. A contractor is expected to be appointed in April 2022.
The work will be mostly funded by Rio Tinto. Bougainville Copper has agreed to
contribute provided the final methodology is endorsed by the stakeholder committee,
the work can be completed safely, and an appropriate funding mechanism is agreed.
EL1 Tenure
The Judicial Review of the decision by the Autonomous Bougainville Government
(ABG) to refuse an extension of the Company’s Exploration Licence (EL1) should
proceed in the PNG National Court during 2022