President Toroama issues LSML-01 preparatory works and feasibility commencement certificate
The President of the Autonomous Bougainville Government (ABG) and Minister for Mining & Petroleum, Hon. Ishmael Toroama, today formally issued the LSML-01 Preparatory Works and Feasibility Commencement Certificate to Bougainville Minerals Limited (BML) in the witness of its preferred approved development partner, Lloyds Panguna Metals & Energy Limited (LPMEL).
The Certificate is issued under the special redevelopment pathway established by the Bougainville Mining (Amendment) Act 2026, marking a significant milestone in the redevelopment of the Panguna mine project.
The Commencement Certificate authorises BML to undertake, through its approved development partner LPMEL, an approved programme of preparatory works and feasibility activities. The approved programme will facilitate the technical, engineering, environmental, social and economic works required to properly assess and plan the future redevelopment of the Panguna Mine.
The Commencement Certificate does not authorise construction or commercial production. Those phases will remain subject to separate statutory approvals and the issue of subsequent Commencement Certificates.
President Toroama said the issuance of the Commencement Certificate reflects the ABG's commitment to responsible resource development under Bougainville's own legal framework.
"The issuance of this Commencement Certificate today marks the beginning of a new chapter for Bougainville. It reflects our confidence in our own laws, our institutions and our ability to responsibly manage our natural resources. The redevelopment of Panguna will proceed one step at a time—guided by transparency, accountability, respect for our landowners and communities, and a shared commitment to ensuring that our mineral wealth creates lasting opportunities and prosperity for all Bougainvilleans," President Toroama.
[ Back to News ]
