Bougainville Executive Council approves grant of LSML-01 to Bougainville Minerals Ltd
The Autonomous Bougainville Government announces that the Bougainville Executive Council has approved the grant of Large-Scale Mining Lease No. 01 (LSML-01) to Bougainville Minerals Limited for a term of 25 years.
LSML-01 will ultimately be held by the Bougainville Minerals Limited and the approved landowners and landowner organizations in accordance with the Bougainville Mining (Amendment) Act 2026.
The decision follows the recent enactment of the Bougainville Mining (Amendment) Act 2026 and represents a significant milestone in the implementation of Bougainville's new legislative framework for the redevelopment of previously operating large-scale mines.
In accordance with the provisions of the new legislative framework, LSML-01 becomes the primary mining tenure over the lease area, with any existing tenements and associated rights within the lease area being suspended and subordinated to the Large-Scale Mining Lease for the duration of LSML-01.
The LSML-01 licence was officially presented today by the Bougainville Executive Council to Bougainville Minerals Limited as the approved lease holder.
Photo: BEC Members presenting the licence to BML Managing Director and Secretary, Mr Telavika Faite.
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