This article has been disseminated on behalf of Numa Numa Resources and may include paid advertisements.
- The Panguna Mine, being redeveloped by the company and its landowner partners, has not only massive amounts of copper and gold within its walls, but also comes with attractive infrastructure assets which can be refurbished and utilized.
- Numa Numa’s operations in Bougainville are multifaceted, encompassing not only mining for precious metals like copper and gold but also such redeveloping key infrastructure assets like the Manetai lime quarrying and calcination project, an asset necessary for separating gold from copper in a concentrator which is also a key element in rebuilding Bougainville’s economy.
- Numa Numa’s initiatives will enable Bougainvilleans to not only achieve prosperity but independence.
In the evolving global mining landscape, regions rich in untapped resources present significant opportunities for companies with management teams devoted to spending years onsite developing them. Numa Numa Resources and its management team has done so over the last 10 years in the Autonomous Region of Bougainville currently a political unit of Papua New Guinea. As a result, the company has strategically positioned itself to capitalize on the spectacular potential of this resource-rich South Pacific archipelago.
Bougainville is perhaps best known as the home of the Panguna Mine. Developed by Rio Tinto, the Panguna Mine was one of the largest open-cut copper and gold mines in the world when it operated from 1972 to 1989 before being shuttered due to a civil war between Bougainville and Papua New Guinea (https://ibn.fm/gglNa). In 2001, the Bougainville Peace Agreement ended the war and awarded Bougainville limited autonomy, including its own constitution; subsequent Autonomous Bougainville Government (“ABG”) agreements stipulated that ownership of the mine reverted to its customary landowners.
Even though it hasn’t operated in almost 40 years, a majority of Bougainville’s Panguna Mine’s copper, gold and silver ore resources remain within its walls, making the fully explored and developed Panguna Mine one of the largest ore bodies in the world. Today, the metals within the mine’s walls are worth approximately $100 billion (https://ibn.fm/0fFh4).
Ian Smith, a mining engineer employed by Rio Tinto and its operating subsidiary who was involved with many aspects of the Panguna Mine’s design, construction and operation, is a member of the company’s board of directors. Most geologists who have studied Bougainville believe that other nearby locations such as Mainoki and Karato are highly prospective and may contain ore deposits similar in size and scale to those of the Panguna Mine.
The Panguna Mine’s ore body is indeed huge, but its large size is only one of its favorable characteristics. The quantity and quality of resources in the Panguna Mine are beyond dispute. The mine’s reserves are proven, while most of the world’s major deposits waiting to be mined are not. In addition, the Panguna Mine is highly accessible and comes with developed infrastructure; many of the roads, port facilities, and other infrastructure built to service the Panguna Mine remain largely intact.
In addition, the high-quality lime located in Central Bougainville’s Manetai area which was used in the Panguna Mine’s concentrator to separate the copper and gold metal streams can also be redeveloped and utilized once more. The company has retained the same person who initially managed the operations of the Manetai limestone project and has developed a plan for its reconstruction and reuse.
The global mining sector is seeing strong tailwinds as demand for metals essential to worldwide electrification accelerates, especially copper, nickel, cobalt and rare earth elements. According to the International Energy Agency (“IEA”) “Global Critical Minerals Outlook 2024,” copper demand is projected to rise by approximately 50% by 2040 in a net-zero emissions scenario, while nickel, cobalt and rare earths are expected to roughly double over the same period (https://ibn.fm/cyNM7). Meanwhile, companies such as Numa Numa Resources are well positioned to invest in regions with untapped mineral wealth as the clean-energy transition drives both demand and market value for these critical minerals to more than $770 billion by 2040.
Numa Numa’s operations in Bougainville are multifaceted, encompassing not only mining but also infrastructure development. The company’s long term strategic goal is to become Bougainville’s leading commercial enterprise. In the process of doing so, the company expects the economy that it is helping to develop to be a key factor in Bougainville’s quest for independence.
Numa Numa Resources exemplifies how companies can thrive in the mining sector by focusing on not only on the company’s commercial needs but by providing prosperity, opportunity and even freedom to the local community. As the global demand for critical minerals continues to rise, Numa Numa’s strategic plan in Bougainville positions it to play a pivotal role in meeting this demand while fostering prosperity and independence.
For more information, visit www.NumaNumaResources.com.
NOTE TO INVESTORS: The latest news and updates relating to Numa Numa are available in the company’s newsroom at https://ibn.fm/NUMA
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