Autonomous Bougainville Government President and Mining & Petroleum Minister Ishmael Toroama has issued the LSML-01 Preparatory Works and Feasibility Commencement Certificate to Bougainville Minerals Ltd, allowing initial technical and feasibility activities to begin for the proposed redevelopment of the Panguna mine.
The certificate, presented to Bougainville Minerals Ltd in the presence of its approved development partner, Lloyds Panguna Metals & Energy Ltd, was issued under the special redevelopment pathway established by the Bougainville Mining (Amendment) Act 2026.
The commencement certificate authorises Bougainville Minerals, through Lloyds Panguna Metals & Energy, to undertake an approved programme of preparatory works and feasibility studies for the Panguna project.
The activities include technical, engineering, environmental, social and economic assessments needed to evaluate and plan the proposed redevelopment of the mine.
The Autonomous Bougainville Government said the certificate does not permit mine construction or commercial production. Those phases will require separate statutory approvals and additional commencement certificates.
Toroama said the issuance marks an important milestone in the redevelopment process while reaffirming the government's commitment to responsible resource development under Bougainville's legal framework.
"The issuance of this Commencement Certificate today marks the beginning of a new chapter for Bougainville. It reflects our confidence in our own laws, our institutions and our ability to responsibly manage our natural resources," Toroama said.
"The redevelopment of Panguna will proceed one step at a time—guided by transparency, accountability, respect for our landowners and communities, and a shared commitment to ensuring that our mineral wealth creates lasting opportunities and prosperity for all Bougainvilleans," he added.
