ASX-listed RTG Mining has presented its redevelopment proposal for the Panguna mine to the House of Representatives in Bougainville in a significant step forward for the project.
RTG Mining is leading a consortium of local landowners in Bougainville, an autonomous region of Papua New Guinea (PNG), that is trying to win government support in order to restart operations at the mine, currently under consideration for redevelopment by Government-backed Bougainville Copper (BCL).
The mine’s relaunch is a keystone of Bougainville’s upcoming plans for independence.
The dormant Panguna copper mine, which has been abandoned since 1989 due to local conflicts, contributed roughly 40 per cent of PNG’s economy during the height of operation.
The consortium, led by landowners, presented its proposal last week to a number of representatives of the Bougainville Government and is currently developing a social licence to win further support.
This includes donations for the local Arawa hospital, school and education support, support for the Women’s Federation in Bougainville and sport sponsorship opportunities, including the local rugby sevens team, the Black Orchids.
“This gesture of support by RTG is significant towards our efforts to compliment our ABG GOvernment including all stakeholders on Bougainvill working towards a united and peaceful Bougainville,” said Peter Tsiamalili, Autonomous Bougainville Rugby president.