Bougainville Copper Limited

Bougainville Copper Limited (BCL) has produced copper concentrate containing gold and silver from its asset at Panguna, Bougainville, Papua New Guinea since 1972. The mine was forced to close in 1989 due to militant activity.

Following repeated instances of damage to mine facilities and the power line and further attacks on employees, it became necessary to evacuate all remaining company personnel from Bougainville early in 1990. However, there now exists a growing confidence that the Panguna mine could once again have a productive future.

In 1999 the company announced a change in strategic direction. As well as maintaining readiness to redevelop Panguna, BCL has developed a portfolio of cash and equities, the company has no substantial debt.