Rio Tinto to quit Bougainville’s Panguna mine

After many years of majority ownership of the Bougainville’s Panguna mine, Rio Tinto has announced the sale of its majority stake in Bougainville Copper Ltd (BCL) to an Australian equity investment company. It would then be shared between the country’s Autonomous Government (ABG) and that of Papua New Guinea. If one or other doesn’t take up the “offer” BCL could then be sold to a third party.

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