First Large-Scale Mineral Exploration Program Underway on Bougainville since the 2001 Peace Accord between Papua New Guinea and Bougainville
This marks the first undertaking of a large-scale mineral exploration program on Bougainville outside the special mining lease held by Bougainville Copper Ltd (Rio Tinto – CRA) since 1965.
- This marks the first undertaking of a large-scale mineral exploration program on Bougainville outside the special mining lease held by Bougainville Copper Ltd (Rio Tinto – CRA) since 1965.
- The new exploration program is also historic because EL02, which is held by IRHL, was the first valid license for metals exploration on Bougainville issued under the Autonomous Bougainville Government’s 2015 Mining Act.
- Under the provisions of the Bougainville Peace Agreement, the Bougainville Mining Act is administered by the Autonomous Bougainville Government (ABG), independent of Papua New Guinea and its separate mining act.
- EL02 is one of only two valid exploration licenses on Bougainville and the only one under active exploration.