BCL holds first board meeting in Bougainville in 27 years

1:56 pm on 4 August 2017

Bougainville Copper Ltd remains confident it has the support to re-open the long closed Panguna mine.

Bougainville's Panguna Copper mine

Bougainville's Panguna Copper mine Photo: Supplied

BCL held its first board meeting in 27 years in the autonomous Papua New Guinea region this week and chief executive Mark Hitchcock said they were well received.

The company, which had operated the mine for nearly 20 years prior to the civil war, is now under different ownership - with the Autonomous Bougainville Government taking a major role.

Mr Hitchcock said it was a significant event to be back in Bougainville.

"We have recently opened an office there and employed a Bougainville manager, and as part of this re-engagement with the development of Panguna, it was quite significant to have our directors back for a board meeting, and very well received."

BCL has laid out a timeline to have the mine fully operational within 10 years.

The BCL board includes former leading PNG politicians, Sir Rabbie Namaliu, Sir Moi Avei and Dame Carol Kidu.

Another company, Australian miner, RTG, is separately negotiating to win an exploration contract at Panguna.

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