14 Mar 2006

Revival of PNG's Panguna mine gets support

3:22 pm on 14 March 2006

A Bougainville businessman has urged people to consider opening the abandoned Panguna mine in Papua New Guinea and take advantage of the high prices for gold and copper.

Businessman Napi Kandaso, a former employee of Bougainville Copper Ltd, has told the National newspaper that the time was right to reassess the future of the mine

He says last year BCL netted a profit of almost 40 million US dollars.

He said the Bougainville crisis was a result of neglect and incompetence from successive PNG governments who failed to renegotiate the BCL agreement every seven years.