//About Bcl
Bougainville Copper Limited (BCL) is an independently managed Papua New Guinean company that is publicly listed on the ASX (Australian Securities Exchange). It is headquartered in Port Moresby and, also has offices in Bougainville.
BCL’s objective is to work cooperatively towards the redevelopment of the Panguna copper gold, and silver mine in Central Bougainville, after mining ceased in 1989. In February 2024, the Autonomous Bougainville Government (ABG) granted a five-year extension of the company’s EL01 exploration licence for the project area.
Substantive work under the exploration licence will entail advanced stage pre-feasibility activities over the coming years. An essential element will include a process of landowner identification and social mapping. BCL is actioning plans to ensure the technical, commercial and financial requirements of the business are satisfied as activities intensify.
The ABG and people of Bougainville have a significant stake in the company. The PNG National Government is committed to transferring the Independent State of PNG’s 36.4 per cent shareholding in BCL to the ABG and people of Bougainville. Once this occurs the ABG and people of Bougainville will be for the first time, BCL’s majority shareholder with a 72.8 per cent share in the company. This follows the full departure of BCL’s former majority owner, Rio Tinto back in 2016.
The board and management team have extensive experience in exploration and mining in PNG and abroad. The board’s composition reflects the company’s local identity, with five of seven directors Bougainvilleans, including Chairman Sir Melchior Togolo and Managing Director and CEO David Osikore.
BCL prides itself on the strength of its engagement with its local stakeholders, including project area landowners, veterans, government, women and youth leaders, church groups, schools, and others. It shares with them a common goal to make Bougainville economically stronger and to support social and community development.