The recently elected prime minister of Papua New Guinea, Paias Wingti, has predicted that the 180,000-tonne-per-year Bougainville copper mine will be reopened within 12 months at a lower cost than previously reported. The mine, owned by Bougainville Copper, was abandoned in March, 1990, after several attacks by Bougainville secessionists.
In contrast to the prime minister’s statements, Bougainville Copper estimates it will take up to two years and cost US$300-450 million to reopen the mine.
The Bougainville deposit has proven reserves of 496 million tonnes grading 0.42% copper and 0.55 grams gold per tonne.
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