Panguna mine on Bougainville Island is one of the worlds richest copper mines Source: The Australian
TALKS are under way on reopening one of the world's biggest copper and gold mines -- on Australia's doorstep.
TALKS are under way on reopening one of the world's biggest copper and gold mines, on Australia's doorstep -- the Bougainville mine that last produced ore 22 years ago and was widely believed to have closed forever.
The seemingly unstoppable China-driven commodities boom has pushed up prices, so the reserves in the Bougainville pit are now worth about $50 billion.
Its port, its access road up 30km of rugged terrain and its 200 million tonnes of pre-stripped ore are ready and waiting.
Crucially, leaders on Bougainville -- including former combatants and elected politicians -- are all calling for the mine to reopen, although they have yet to agree on the conditions they require.