News and Public Notices

Ladies and Gentlemen, Distinguished Leaders and Delegates, Members of the Papua New Guinea Chamber of Resources and Energy, Development Partners, Investors, and Stakeholders,

On behalf of the Autonomous Bougainville Government President, Hon. Ismael Toroama, and the people of Bougainville, I bring you warm greetings and sincere appreciation for the opportunity to speak at this significant gathering of resource and energy stakeholders from across Papua New Guinea and the global investment community.

We meet here at a time when Bougainville is undergoing a historic political and economic transformation—one that is deeply rooted in our people’s aspirations for political independence and sustainable development.

Following the overwhelming 98% result of the 2019 Referendum on Independence and ongoing consultations with the National Government, Bougainville is preparing for a future of self-determination; built on good governance, transparency, and inclusive economic growth.

Resources and Economic Renewal in Bougainville

Bougainville holds significant mineral and natural resource potential—from gold and copper to renewable energy and fisheries. For decades, these resources remained largely untapped or underutilized due to conflict, instability, or lack of infrastructure. Today, we are changing that narrative.

The Autonomous Bougainville Government has taken important steps to establish a stable legal and regulatory environment for investment. Through the Bougainville Mining Act 2015 and Bougainville Mining Regulations 2016, the ABG now holds full jurisdiction over mining and exploration activities in the Region. This is consistent with Section 296 of the PNG Constitution which states that National laws continue to apply in Bougainville until replaced by Bougainville laws.

On the energy front, we have launched the Bougainville Energy Policy and the Strategic Energy Action Plan 2023-2033, which set out our vision for clean, affordable, and community-led energy solutions.                 

Investment Opportunities and Partnerships

As we look to the future, we invite responsible investors, development partners, and resource companies to engage with us in some of the following areas:

On mineral exploration opportunities – 

We currently have four (4) active Exploration Licences.    

Three of these EL’s are greenfield projects in areas that have remained unexplored for the last thirty-seven (37) years. Exploration results to-date are already supporting the assumptions about Bougainville’s economic mineralisation potential, with results pointing to the presence of rich porphyry copper-gold and epithermal gold-silver mineralisation.

One of the existing EL’s  is EL01, which covers the former Panguna mine SML area. EL01 was granted to Bougainville Copper Ltd (BCL) in January 2024 for a term of 5 years. BCL has since made significant progress on signing the necessary access agreements with the Panguna landowners and has been steadily increasing its on-site presence and onsite activities over the past year. As you may already be aware, the Autonomous Bougainville Government (ABG) now holds majority 72.9% ownership in Bougainville Copper Limited (BCL), following the transfer of 36.4% shares held by the National Government to the ABG. BCL is also seeking potential mining partners to form a JV to redevelop the project, and as a major shareholder, the ABG’s role, together with our local stakeholders and landowners, will be crucial in this process.

We are also seeing a significant increase in mineral exploration interests in the region, with over 20 new EL applications received in the past year. 

We are also looking at Tailings reprocessing and mine rehabilitation at Panguna and we invite potential partners who may be interested in this project for dialogue with the ABG and our landowners.

On energy sector opportunities –

We are looking at sustainable energy development, including solar mini-grids and hydro power.

We’ve also commenced initial works around redevelopment of the Loloho fuel depot, with a 61 Million Liters fuel storage capacity. We’re currently having discussion with potential fuel suppliers on potential fuel supply arrangements, and we invite others who may be interested to also engage with us on this opportunity.

We’re open to engagements in other areas as well including Infrastructure partnerships, especially in roads, ports, and communications, Downstream processing, local content, and community benefit sharing, and others (ie: tourism, fisheries, etc...).

These are not mere prospects—they are priorities for Bougainville, and we are actively seeking partnerships that respect our people, environment, and long-term goals.

The ABG has continued to engage actively with National Government agencies to transfer powers and functions to empower ABG and its people to manage their own affairs and work to realize their aspirations. In the business space, we’re working with the PNG Investment Promotion Authority to establish the regulatory framework for business registry facility, something we see will significantly anchor the economy in Bougainville. We’ve recommenced consultations with PNG Power for cooperation and technical assistance for capacity building towards ultimately managing the electricity grids in Buka and Arawa. The ABG has established its electricity and water utility entity, Bougainville Power & Water Corporation Ltd. Before the end of this year, Bougainville Power will manage the generation, transmission, distribution and retailing of the electricity grid in Buin, South Bougainville.

The ABG continues to build enduring partnership with its development partners who have been critical towards Bougainville restoration and reconstruction this far, and we invite more partners to come on board to make real impact for mutual gains.

The ABG is giving critical attention and priority towards proper urban development planning to free up alienated land in the Urban centres like Buka, Kokopau, Kieta and Toniva and Buin for proper land-use planning, infrastructure development, public space design with strong emphasis to invite more private sector partners fostering economic growth and job creation in key sectors. This has been quite a missed opportunity, but it is high on agenda now.

Our Commitment: Transparency, Peace, and Progress

The ABG is committed to ensuring that investments in Bougainville are carried out with integrity, accountability, and mutual benefit. We believe in peace through development—and in building a strong economy that supports the independence aspirations of our people.

We recognise the importance of corporate social responsibility, environmental protection, and local community inclusion in all resource activities. We also recognise the crucial role of women, youth, and customary landowners in driving and sustaining economic transformation.

Conclusion: The Future is Ours to Shape—Together

In conclusion, let me say this: Bougainville is open for investment. But more importantly, Bougainville is ready for partnership—a new kind of partnership based on respect, shared value, and long-term vision.

While our government has focused on strengthening and developing our local content we have also created a conducive environment for business and investment to flourish. We invite PNG and the rest of the world to recognize Bougainville's potential for investment in the extractive industry as well as the development of other important natural resources.

The next five years our government will focus on key initiatives to develop our economic capacity through mining, tourism and cash crops. "Bougainville is Open for Business" was the slogan of the government in the previous 5 years, we should extend this invitation to investors present at the conference.

As Chief Secretary, I invite all present to explore the opportunities Bougainville offers, to engage with our institutions, and to walk with us on this journey of renewal and self-reliance.

Together, let us shape a Bougainville—and a Papua New Guinea—that thrives on the strength of its people, its resources, and its commitment to a peaceful and prosperous future.

Thank you and God bless you all. 

KEARNNETH NANEI, LLB 
Chief Secretary and Head of the Bougainville Public Service 
Autonomous Bougainville Government 

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