The Autonomous Bougainville Government (ABG) has signed a Memorandum of Understanding with Lloyds Metals & Energy Ltd. (LMEL), creating a formal platform for consultation on major development priorities across the region.
President Ishmael Toroama described the agreement as an important milestone, saying the framework will enable Bougainville to explore development opportunities in a structured, transparent and well-coordinated way.
“Thank you, Lloyds Metal, for us entering into this agreement. ABG has entered into so many agreements, promises that were signed, trying to revive and ensure that they make all agreements work, today the challenge is here with us,” he said.
Under the MoU, the ABG and LMEL will consult on a range of development areas, including infrastructure, social services, economic initiatives and potential large-scale mining projects.
Toroama said the framework aligns with Bougainville’s broader development agenda and complements the support of its long-standing partners. He reaffirmed that the government will continue working with partners who contribute meaningfully to the region’s economic empowerment and its preparations for political independence.
LMEL managing director Balasubramanian Prabhakaran, in a presentation to Bougainville’s political and administrative leadership, acknowledged the region’s difficult history and assured the ABG that the company approaches the partnership with respect for Bougainville’s long-term development aspirations.
Prabhakaran said the company recognises the resilience and innovative spirit of Bougainvilleans, noting that this strength inspires LMEL’s intention to work with the ABG.
Lloyds Metals & Energy Ltd. is an established Indian corporation engaged in mining, steel manufacturing and large-scale industrial operations in India and abroad through its associated entities.
