Locals overlooking the site of the Panguna Mine in Bougainville. Courtesy of John D Kuhns.
The Autonomous Bougainville Government (ABG) has rejected a proposal that would have watered down its stake in Bougainville Copper Limited (BCL)—which owns the Panguna copper mine, one of the world’s largest—to a Chinese-controlled entity.
Instead, the ABG will turn to an Indian firm to reopen Panguna, which is estimated to contain about 1 billion metric tons (about 2.2 trillion pounds) of copper and 12 million metric tons (about 26 million pounds) of gold, as well as the hopes of the region’s economic future post-independence.
