Bougainville Copper (BOC)

Shares / Stock Code

BOC

Stock Exchange / Sharemarket

ax

Bougainville Copper (BOC) is involved in investment activities. The Company’s assets include the Panguna copper-gold mine and associated facilities on Bougainville Island, Papua New Guinea. Its operations included the mining and production of concentrates containing copper, gold and silver from Panguna copper-gold mine. The Company suspended its operations at Panguna copper-gold mine as well as its processing facility at Panguna on Bougainville Island located in the North Solomons Province of Papua New Guinea in May 1989 due to militant activities. Bougainville Copper listed on the Australian Stock Exchange on 31 December, 1970. There has been no production since 1989. On 24 March, 1990, BOC completed the withdrawal of its personnel from Bougainville. Since then there has been no care and maintenance of its assets therefore in 1999 the Company announced its desire to dispose of the Bougainville assets. The Company now sources its income from investment operations and it has developed a portfolio of cash and equities, which includes investments in PNG projects. Rio Tinto Limited owns 53.58% of the Company, with Independent State of Papua New Guinea having 19.06% ownership. The remaining 27.36% of the Company is owned by public shareholders.

Bougainville Copper History

BOC commenced operations in 1967. It floated on the ASX in 1971. Bougainville Copper operated a large open pit mine and processing facility at Panguna on Bougainville Island, located in the North Solomons Province of Papua New Guinea. The Company has produced copper concentrate containing considerable quantities of gold and silver from the mine from 1972 until it was abandoned in 15 May 1989 due to military activities. In 2000, BOC started to dispose of its Bougainville assets and now it has developed a portfolio of debt and equity investments.