Reconstruction of the Panguna Mine

How big is the Paguna Mine?

The Paguna Mine contains copper & gold reserves comparable to the reserves in entire countries

Copper

The Paguna Mine has copper reserves representing 5.3% of all current copper reserves worldwide

According to the U.S. Geological Survey 2024 Mineral Commodity Summaries, there are currently approximately 1 billion metric tons of contained copper reserves worldwide. According to the most recent Bougainville Copper Limited Annual Report, the Panguna Mine has known reserves of 5.3 million metric tons. This is almost as much in contained copper reserves as the entirety of Canada which has 7.6 million metric tons according to the International Copper Study Group. Canada has the 20th largest reserves among all countries.

At January 2024 copper prices, the Panguna Mine known copper reserves are worth approximately U.S.$45 billion. It is believed that there are additional reserves in addition to the known reserves.

All indicators point to a need to develop and build more large-scale mines

Simply put – The world needs more copper mines now

More Large Scale Mines

Worldwide Copper Demand
(Millions of Tons)

worldwide copper demand graphic

Copper Supply Gap

Only 4 new mines in the pipeline.  Future demand requires at least one new large-scale mine per year.1

1. RBC Dominion Securities, Sam Crittenden

Challenges

Depletion of Existing Mines
Lack of Investment in New Mines over the past 10 Years
Supply Disruptions Caused by Political Instability

Existing Mines

Existing Mines Face:

Depletion
Falling Ore Grades
Local Pollution and Environmental Concerns

World Copper Reserves

World Copper Reserves Chart

Gold

The Paguna Mine has gold reserves representing 1% of all current gold reserves worldwide

According to the U.S. Geological Survey 2024 Mineral Commodity Summaries, there are currently approximately 59,000 metric tons of gold contained reserves worldwide. According to the most recent Bougainville Copper Limited Annual Report, the Panguna Mine has known reserves of 547.15 metric tons of gold contained reserves. By comparison the U.S. has 3,000 tons, Canada 2,300 and Tanzania 420.

At January 2024 gold prices, the Panguna Mine known gold reserves are worth approximately U.S.$40 billion. It is believed that there are additional reserves in addition to the known reserves.

World Gold Reserves

World Gold Reserves Chart