4 Feb 2019

Bougainville to set up local company to reopen mine

From , 5:03 am on 4 February 2019

Bougainville's government is planning to re-open the long closed Panguna mine, and operate it with a company that's majority-owned by Bougainville. 

This comes after much squabbling over who should get the mining licence, followed by a government moratorium on any development at the site because it could undermine the looming independence referendum.

Bougainville's president, John Momis, says with Papua New Guinea failing to fund Bougainville ahead of June's referendum, these are emergency times and the government has decided to take action. 

He told Don Wiseman a company called Bougainville Advance Mining is being set up to be owned by the government of Bougainville and an investor, Caballus Mining, owned by West Australian businessman, Jeff McGlinn.

Bougainville's Panguna Copper mine

Bougainville's Panguna Copper mine Photo: Supplied