ASX-listed Bougainville Copper (BOC) has entered into a land access and compensation agreement (LACA) with customary landowners for its EL01 exploration licence within the Panguna project area.
The LACA is a key milestone in the development of the Panguna project, following the Autonomous Bougainville Government (ABG’s) decision in January to grant BOC a five-year exploration licence.
This agreement now clears the way for BOC to carry out the necessary exploration and preparatory work as part of the next phase of the project.
The agreement was signed on November 6 by traditional landowners and represents 510 blocks covering about 37.74 km2.
The signing ceremony, held in Panguna, was attended by key stakeholders including landowners, representatives from the ABG and various community leaders.
In accordance with the Bougainville Mining Act 2015, the LACA ensures consensual access to and use of the land for exploration activities, including prefeasibility and feasibility studies, which are critical to advancing the Panguna project.