THE study to evaluate the technical and financial requirements to re-develop the Panguna copper mine on Bougainville has largely been completed, Bougainville Copper Ltd said this week. The copper mine has remained closed since 1989 at the height of the secessionist crisis on Bougainville Island. Although peace has now returned to Bougainville, the mine still remains closed, but BCL has plans to re-open the mine, once ranked as the fourth largest copper mine in the world and accounted for 44% of Papua New Guinea’s exports up until its closure. It is estimated that the mine has the potential to produce between 80,000-200,000 tonnes annually if it re-opens. BCL, at its annual general meeting in Port Moresby in May this year, announced it has would undertake an order of magnitude (OoM) study to evaluate the requirements to have the mine re-opened and bring it to production. Panguna study done, says BCL
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