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BCL granted five-year exploration extension

| Bougainville Copper Limited

Bougainville president Ishmael Toroama and BCL chairman Sir Melchior Tomot (centre) hold the ELO1 exploration licence extension in the presence of government and company officials

BUKA - Bougainville Copper Limited (BCL) yesterday confirmed that the Autonomous Bougainville Government (ABG) has taken a decision to award a five-year extension of the company’s exploration licence for the Panguna project in Central Bougainville.

At a ceremony in Buka to mark the granting of the extension, Bougainville President Ishmael Toroama said Panguna was a high impact project for Bougainville and that the licence would pave the way for redevelopment of the mine.

This will begin with advanced pre-feasibility and feasibility activities over coming years.

Panguna is one of the world’s largest known copper deposits and BCL chairman Sir Melchior Togolo said the company was excited at the prospect of leading the redevelopment work.

“This is a result of constructive collaboration, underpinned by mutual respect,” he said. “We have a common goal to make Bougainville economically strong, present opportunities for business development and create employment of our people.

“The ABG, landowners and BCL have been working on resolving differences since the refusal of the extension in January 2018. Today marks the successful culmination of these joint efforts.

“Panguna promises to be a transformative investment for Bougainville that will support greater levels of economic self-reliance for the region,” Sir Melchior said.

The ELO1 exploration extension clears the way for BCL to increase its activities in the Panguna project area in accordance with the Bougainville Mining Act 2015.

“The company has a well-established presence in Bougainville and has forged strong community relations,” Sir Melchior said.

“The renewed licence provides a very solid foundation for increased activity as we work with mutual respect towards Panguna’s redevelopment.”


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Bernard Corden

The Goose and The Common (seventeenth century protest against English enclosures)

The law doth punish man or woman
That steals the goose from off the common
But lets the greater villain loose
Who steals the common from the goose

The law demands that we atone
When we take things we do not own
But leaves the lords and ladies fine
Who take things that are yours and mine

The poor and wretched don't escape
If they conspire the law to break
This must be so but they endure
Those who conspire to make the law

The law locks up the man or woman
Who steals the goose from off the common
And geese will still a common lack
Till they go and steal it back


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