ABG President and Minister for Mining Ishmael Toroama provided an update to Parliament on the progress of the Panguna Project, outlining key developments in governance, stakeholder engagement and legislative reforms.
“The Panguna Project remains a priority for Bougainville’s economic independence and continues to be progressed in a careful, lawful and structured manner,” he said.
President Toroama clarified that the Panguna EL01 project remains in the exploration stage and still requires pre-feasibility and feasibility studies before any application for a mining development licence can be made.
He explained that the project is being driven through a coordinated whole-of-government approach to ensure effective oversight, accountability and implementation. This framework is overseen by a Core Ministerial Team, supported by a Technical Working Group (TWG) at the administrative level.
“The TWG is now operational and coordinating a whole-of-government implementation framework to provide the regulatory and enabling environment to support the progress of the Panguna Project,” he said.
The President reaffirmed that landowners remain central to the project.
“Landowners remain key partners, with the Government’s commitment to their participation, equity and benefit-sharing firmly upheld. The ABG will engage with landowners through their respective families and clans, recognising that land ownership in Bougainville is communal under the family and clan system.”
“At both the administrative and landowner levels, the ABG has commenced structured engagement involving a range of local stakeholders, including Panguna landowners, community governments and veterans, impacted communities, small-scale miners and other interest groups.”
Addressing shareholding arrangements, President Toroama confirmed that the ABG, together with Bougainville Minerals Limited, now holds a combined 72.9 percent stake in Bougainville Copper Limited.
“The ABG has reaffirmed its majority shareholding of 72.9% in BCL, ensuring full strategic control at the shareholder level. Under BEC direction and through formal shareholder processes, we have commenced restructuring the BCL Board to align with Bougainville’s strategic direction and majority ownership position,” he said.
As part of this restructuring, ABG Chief Secretary Kearnneth Nanei has been appointed Chairman, strengthening governance oversight and alignment with ABG policy.
The President also informed Parliament of recent Board changes, including the resignation of Peter Graham and Sir Moi Avei as directors.
“Both individuals were representing the national government on the Board, and with the transfer of shareholding from the national government to the ABG, they no longer serve a direct interest in the governance of the company,” he said.
Toroama stressed that all future mining activity in Bougainville will be undertaken in a safe, responsible and environmentally compliant manner, consistent with national laws and international standards.
The House subsequently debated the ministerial statement and expressed strong support for the President and his Executive Government regarding decisions on the Panguna redevelopment project.
