Bougainville's Path to Economic Independence: Reviving the Panguna Mine

In its pursuit of political independence, Bougainville must fund half its budget, says PNG Prime Minister James Marape. President Ishmael Toroama seeks foreign investment to revive the Panguna mine, an economic powerhouse before civil unrest. Economic independence is deemed crucial by PNG, with ongoing efforts to enhance internal revenue.

Efforts to fund Bougainville's path to political independence were highlighted by PNG Prime Minister James Marape, emphasizing the need for the Pacific archipelago to cover at least half of its budget.

Bougainville President Ishmael Toroama is engaging international investors to restart the Panguna copper mine, crucial for the region's economic revival following a past bloody civil conflict.

A copper exploration license issued to Bougainville Copper Limited could generate $36 billion over 20 years, with future economic self-reliance seen as vital for Bougainville's anticipated independence.

(With inputs from agencies.)