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The Panguna mine is a large copper mine located in Bougainville, Papua New Guinea. Panguna represents one of the largest copper reserves in Papua New Guinea and in the world, having an estimated reserve of one billion tonnes of ore copper and twelve million ounces of gold. [1] [2] The mine has been closed since 1989 and has ceased all production.
Operations of the mine at Panguna and sharing of its revenues had been perhaps the major sticking point between Bougainville and PNG government. The mine was the largest non-aid revenue stream of the Government of Papua New Guinea from 1975, when it became independent, to the mine's closure in 1989. [32]
As a result of the civil war and the rebel-forced closure of the mine, Papua New Guinea's government revenues fell by 20%. Some hope for the eventual reopening of the Panguna mine. Negotiations to reopen the Panguna mine began in early March 2006 with talks between former PNG Mines Minister Sam Akoitai and the Rio Tinto corporation in London.
The project comprises the Kurumbukari mine site and beneficiation plant, and a 135 kilometres (84 mi) slurry pipeline from the mine to the Basamuk processing plant. The mine is located on the Kurumbukari plateau, on the southern side of the Ramu River Valley, 75 kilometres (47 mi) to the southwest of Madang. The processing plant site is located ...
Panguna is a town next to the (now decommissioned) Panguna copper mine on Bougainville Island, Papua New Guinea. It was owned and operated by Bougainville Copper Ltd , a subsidiary of Rio Tinto . Beginning operations in 1972, the company hired thousands of workers, most from other parts of the country.
Francis Ona (15 February 1953 – 24 July 2005) was the Supreme Commander of the Bougainville Revolutionary Army (BRA) during the 1988–1998 Bougainville conflict.The war began when Ona "went bush" and began organising acts of industrial sabotage against the Panguna mine, which he felt was causing environmental devastation and was not fairly compensating the traditional landowners, himself ...
In northern Peru, the World Bank's business-lending arm is part owner of the Yanacocha gold mine, accused by impoverished farming communities of despoiling their land in pursuit of the precious ore. The bank and IFC have stepped up investments in projects deemed to have a high risk of serious and environment damage, including oil pipelines, mines and even coal-fired power plants, an ...
A regulatory impact analysis or regulatory impact assessment (RIA) is a document created before a new government regulation is introduced. RIAs are produced in many countries, although their scope, content, role and influence on policy making vary.