1 PROCUREMENT AND CONSTRUCTION OF PREMIUM NEW DISTRIBUTION CENTER (EOI ANNOUNCEMENT) WWW.MONTSAME.MN PUBLISHED:2025/10/10      2 SIGNING OF GRANT AGREEMENT WITH MONGOLIA:CONTRIBUTING TO STRENGTHENING THE FOUNDATION FOR DEVELOPING ENGINEERS THROUGH A JAPANESE-STYLE PRACTICAL TRAINING FACILITY AND EQUIPMENT WWW.JICA.GO.JP PUBLISHED:2025/10/10      3 PETRO MATAD SHARES SURGE AFTER MONGOLIA TESTS ‘EXCEEDED EXPECTATIONS’ WWW.UKINVESTORMAGAZINE.CO.UK PUBLISHED:2025/10/09      4 ULAANBAATAR TO SUPPLY 170,000 HOUSEHOLDS WITH SEMI-COKE BRIQUETTES WWW.MONTSAME.MN PUBLISHED:2025/10/09      5 100.9 KILOMETERS OF ROADS UPGRADED IN ULAANBAATAR THIS YEAR WWW.MONTSAME.MN PUBLISHED:2025/10/09      6 ADVISED TO MANAGE STRATEGIC MINERAL RESOURCES PRUDENTLY WWW.MONTSAME.MN PUBLISHED:2025/10/09      7 30 KILOMETERS OF RAINWATER DRAINAGE PIPELINES TO BE INSTALLED IN 2026 WWW.MONTSAME.MN PUBLISHED:2025/10/09      8 ARCHAEOLOGISTS USE INNOVATIVE TECHNOLOGIES IN SEARCH FOR GENGHIS KHAN'S TOMB WWW.BGNES.COM PUBLISHED:2025/10/09      9 MONGOLIA BUILDS AWARENESS OF UN WATER CONVENTION WITH A VIEW TO STRENGTHENING TRANSBOUNDARY WATER COOPERATION WWW.UNECE.ORG PUBLISHED:2025/10/09      10 CHINA-EUROPE FREIGHT TRAINS PASSING THROUGH CENTRAL CORRIDOR TOP 3,000, 39 DAYS AHEAD OF 2024 WWW.GLOBALTIMES.CN PUBLISHED:2025/10/09      ЕВРОПЫН ХОЛБОО БОЛОН МОНГОЛ УЛСЫН БИЗНЕС, ХӨРӨНГӨ ОРУУЛАЛТЫН ФОРУМ БОЛНО WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/10     ДҮҮЖИН ЗАМЫН ТЭЭВЭР ТӨСӨЛ 38 ХУВИЙН ГҮЙЦЭТГЭЛТЭЙ ҮРГЭЛЖИЛЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/10/10     МОНГОЛООС 20 САЯАР АВДАГ ШОНХОР ШУВУУ САУДЫН АРАБД 622 САЯ ТӨГРӨГӨӨР ЗАРАГДЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/09     АЗИЙН ХӨГЖЛИЙН БАНКНААС ЗЭЭЛ АВЧ 31 СУРГУУЛЬ, 9 ЦЭЦЭРЛЭГ БАРИНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/09     Д.ЦОЛМОНГ ОЮУ ТОЛГОЙ ХХК-ИЙН ТУЗ-ИЙН ГИШҮҮНЭЭР ТОМИЛЖЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/09     Б.ЭНХБАЯРЫГ ХЗДХ-ИЙН САЙДААР ТОМИЛОХ ТАНИЛЦУУЛГЫГ ХОЙШЛУУЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/09     ХАГАС КОКСОН ШАХМАЛ ТҮЛШИЙГ ӨНӨӨДРӨӨС БОРЛУУЛЖ ЭХЭЛЛЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/09     МОНГОЛЫН ЭДИЙН ЗАСАГТ ТУЛГАРЧ БУЙ ЭРСДЭЛИЙГ ОЛОН УЛСЫН БАЙГУУЛЛАГУУД ИНГЭЖ ТОДОРХОЙЛОВ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/08     ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХИЙН ЭНЭТХЭГТ ХИЙХ АЙЛЧЛАЛ НЬ СТРАТЕГИЙН ТҮНШЛЭЛИЙГ ДАХИН ТОДОРХОЙЛНО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/08     "ОЮУ ТОЛГОЙ" ХХК-ИЙН ТУЗ-ИЙН ГИШҮҮНЭЭС Э.БАЯСГАЛАНГ ЧӨЛӨӨЛЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/08    

Rio Tinto exits PNG, gives away copper-gold mine with $51bn in reserves www.mining.com

Mining giant Rio Tinto (LON, ASX:RIO) has given away a 54% stake in a Papua New Guinean copper and gold mine, which has reserves estimated to be worth $51 billion.
 
The decision to hand back the shares in its subsidiary Bougainville Copper Limited (ASX:BOC) to an independent trustee, follows a company review of the asset that was triggered by the Bouganville government’s pressure to restart mining at Panguna or give it up.
 
“Our review looked at a broad range of options and by distributing our shares in this way we aim to provide landowners, those closest to the mine, and the people of Bouganville a greater say in the future of Panguna,” Chris Salisbury, Rio’s copper and coal chief executive said in a statement.
 
The trustee, noted Rio, will manage the distribution of its shares between the autonomous Bouganville government and the PNG government, providing them with a platform to work together on options for the resource.
 
In a separate statement, Bougainville Copper said its board of directors is considering the implications of Rio’s move. The company’s Chairman and Managing Director Peter Taylor will resign, and Robert Burns has been appointed acting chairman.
 
The Panguna mine was once a major producer and one of the largest open pit mines in the world. It’s believed to still hold about 5.3 million tonnes of copper and 19.3 million ounces of gold. However, it could cost up to A$10 billion to restart production, The Australian reports (subs. required).
 
Bougainville was the mine operator until local opposition sparked a civil war and forced it to shutdown in 1989.
 
Rio’s decision on Panguna echoes a similar move two years ago, when the company decided to give away its 19.1% stake in Northern Dynasty Minerals (TSX:NDM) (NYSE:MKT), a company leading the controversial Pebble Mine copper and gold project in the Bristol Bay region of Alaska.


Published Date:2016-07-01