Bougainville’s Panguna Mine Poised to Drive Economic Transformation with K120 Billion Potential
Bougainville Copper Limited (BCL) Executive Chairman, Mel Togolo, presented the company’s vision for the Panguna mine, emphasizing its potential to transform the region’s economy, during the 2024 PNG Investment Conference in Sydney, Australia.
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| Bougainville’s Panguna Mine Poised to Drive Economic Transformation with K120 Billion Potential |
Preliminary projections estimate that the Panguna mine could generate around K120 billion (36 billion USD) in revenue, with K40 billion anticipated to directly benefit Bougainville. Togolo highlighted these figures as a testament to the project’s capacity to deliver substantial economic gains to the region.
Speaking at the conference, Togolo described Panguna as a "brownfield project" with significant advantages, including an established resource and logistical readiness, making it well-prepared for development.
He also underscored the critical role of copper in supporting the global transition to renewable energy. With demand for copper expected to rise alongside a potential supply gap, Panguna is uniquely positioned to address both domestic and international needs.
“Copper is a key component in renewable energy technologies,” Togolo noted. “As the world shifts toward greener energy solutions, the demand for copper is set to surge, enhancing Panguna’s strategic importance.”
The remarks reaffirmed BCL’s commitment to advancing the Panguna project as a driver of regional development and a contributor to global sustainability efforts.
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