Bougainville Copper Limited Information

Bougainville Copper Limited (BCL) is an independently-managed company of Papua New Guinea that is publicly listed on the ASX (Australian Securities Exchange). Bougainville Copper's core objective is to work cooperatively towards realising the vision of resuming active exploration and sustainable copper, gold and silver mining at Panguna, in central Bougainville, after mining ceased in 1989. The people of Bougainville have a significant stake in the Bougainville Copper of today, with the Autonomous Bougainville Government (ABG) holding a 36.4 percent share in the company, as does the Independent State of Papua New Guinea. This followed the departure of Rio Tinto in mid-2016. The Bougainville Copper management team boasts many decades of mining experience and is supported by a highly-regarded board of directors which includes prominent Bougainvillean Sir Mel Togolo, leading PNG resources industry figure Peter Graham, former PNG prime minister Sir Rabbie L. Namaliu, Dame Carol A. Kidu and Sir Moi Avei. The appointments of James Rutana a well-respected businessman and Secretary and Principal Legal Adviser for the ABG Department of Justice and Legal Services Kearnneth Nanei in 2021 further strengthened the Board. Both were nominated by the ABG which remains a significant shareholder (36.4 per cent) in Bougainville Copper and after appropriate due diligence they were appointed. Bougainville Copper's activities are being guided by a comprehensive, four-staged redevelopment plan underwritten by a firm commitment to local engagement as broad and enduring community support is critical if mining at Panguna is to recommence. The company has made some solid progress under the first stage and has established a full-time presence in Bougainville by opening an office in Buka in 2017 and appointing a locally-based manager and engagement team. Bougainville Copper now has three offices, located in Port Moresby, Buka and Arawa.