Numa Numa Resources Inc. is advancing an integrated mining and infrastructure portfolio in Bougainville, centered on the planned reconstruction of the historic Panguna Mine. This copper-gold deposit, once the largest open-cut mine of its kind globally, retains substantial remaining resources and is valued at approximately $100 billion. The company is collaborating with customary landowners to move the project forward while positioning major mining companies as future development and operating partners.
Beyond Panguna, Numa Numa is pursuing exploration opportunities at Mainoki and Karato, which are considered highly prospective for similar ore deposits. The company is also developing the Manetai Limestone and Lime Project to support regional mining operations and advancing the Bougainville Power & Light Project, which could supply up to 10 megawatts of hydroelectric and solar power. These initiatives are designed to combine resource development with the industrial inputs and infrastructure needed for sustainable mining activity in the region.
The Panguna Mine, developed by Rio Tinto, operated from 1972 to 1989 until a civil war, known as “the Crisis,” led to its closure. The 2001 Bougainville Peace Agreement granted Bougainville limited autonomy and reverted mine ownership to its customary landowners. A majority of the mine’s copper, gold, and silver ore resources remain, making it one of the largest fully explored ore bodies in the world.
According to the company, most geologists who have studied Bougainville believe that nearby locations such as Mainoki and Karato may contain deposits similar in size and scale to Panguna. Numa Numa’s management has lived and worked in Bougainville for a decade and is headquartered there, positioning the company to navigate local complexities and leverage regional opportunities.
The integrated approach underscores the importance of infrastructure in revitalizing mining in Bougainville. The power project, in particular, addresses a critical need for reliable energy to support both mining operations and local communities. The limestone and lime project would provide essential materials for construction and processing, reducing reliance on imports.
Numa Numa’s strategy involves working closely with customary landowners, which is crucial for social license and sustainable development. By attracting major mining companies as partners, the company aims to de-risk development and bring in expertise and capital. The exploration at Mainoki and Karato could expand the resource base, potentially transforming Bougainville into a major mining hub again.
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