Pacific island Bougainville rejects Chinese partner for mine, opts to deal with Indian company

Bougainville rejects a Chinese mining partnership to reopen its Panguna mine, opting for an Indian company instead.

The Pacific island of Bougainville has rejected a ​partnership with Chinese miner CMOC to reopen a gold and copper ‌mine that was among the world's largest before it was ​shut by a bloody civil war, instead opting to deal with an Indian company.

With a population of 3,00,000, Bougainville has set a deadline of 2027 to achieve independence from Papua New Guinea, and needs to reopen the Panguna mine to build its economy.

Previously operated by Rio Tinto, the Panguna mine was once a major export earner for Papua New Guinea, before it ​closed in 1989 as a civil war that killed 20,000 people ⁠broke out.

Bougainville President Ishmael Toroama said in a statement on Thursday (January 29, 2026) that he had rejected a proposed partnership between Bougainville Copper and CMOC. It was the first public indication that the Chinese ​company had been chosen by the ⁠local miner to invest in Panguna.

Bougainville Copper was instead directed by Mr. Toroama to engage with the Indian company Lloyds Metals & Energy Limited for a mining or services partnership contract model.

In a statement to the Australian Stock Exchange ‌on Friday (January 30, 2026), Bougainville Copper said its representatives and CMOC were "continuing efforts ‌to engage with the president".