Posted in | News | Gold | Copper

Bougainville Copper Mine May Re-Open

By Joel ScanlonDec 2 2010

Bougainville island in Papua New Guinea may see the Bougainville Copper mine being reopened as negotiations begin between the new government and the landowners.

The president of the autonomous Bougainville Government John Momis told the press that discussions were going well.

He also said that they were satisfied that they were doing the right thing. It would help kick start developments in Bougainville. The mine was closed in 1989 when the island disintegrated into civil war. The copper mine at Panguna used to provide 20% of the government’s revenue before that.

The Bougainville Copper company is owned 53.58% by Rio Tinto, and 19.06 % by the Papua New Guinea government. The remaining 27.36 % is held by public shareholders. It has copper reserves estimated at 3 million tonnes and gold production would be in the range of 400,000 ounces per year. The mine would be the world’s largest producers of both gold and copper if successful production begins.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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