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Bougainville Copper ( (AU:BOC) ) has shared an announcement.
Bougainville Copper has concluded a strategic review to identify an international partner to help redevelop the Panguna Mine, selecting China’s CMOC Group as its preferred mining partner due to its experience in large-scale copper projects in developing economies. However, the Autonomous Bougainville Government, which controls 72.9% of Bougainville Copper’s shares, has rejected the board’s recommendation and instead favours India’s Lloyd Metals & Energy, creating uncertainty over the future structure and control of the Panguna project as Bougainville Copper and CMOC lobby for political endorsement ahead of an upcoming Bougainville cabinet meeting.
More about Bougainville Copper
Bougainville Copper Limited is a Papua New Guinea–incorporated mining company listed on the ASX, focused on the potential redevelopment of the Panguna copper mine on Bougainville in partnership with the Autonomous Bougainville Government and an international mining operator.
Average Trading Volume: 156,332
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$461.2M
For an in-depth examination of BOC stock, go to TipRanks’ Overview page.