“The Pacific island of Bougainville has rejected a partnership with Chinese miner CMOC to reopen a gold and copper mine that was among the world’s largest before it was shut by a bloody civil war, instead opting to deal with an Indian company.”
“With a population of 300,000, Bougainville has set a deadline of 2027 to achieve independence from Papua New Guinea, and needs to reopen the Panguna mine to build its economy.”
“Bougainville President Ishmael Toroama said in a statement on Thursday that he had rejected a proposed partnership between Bougainville Copper and CMOC. It was the first public indication that the Chinese company had been chosen by the local miner to invest in Panguna.”
“Bougainville Copper was instead directed by Toroama to engage with the Indian company Lloyds Metals & Energy Limited for a mining or services partnership contract model.”
“Bougainville sits 30 km (18 miles) from the Solomon Islands, which struck a security pact with China in 2022, as Beijing seeks to expand its influence in the strategically located region.”