Transcription of 2016 ANNUAL REPORT - BCL
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2016 ANNUAL REPORT - BCL
I ANNUAL REPORT 2016 BOUGAINVILLE COPPER LIMITEDThe vision of Bougainville Copper Limited is to return to active exploration and profitable sustainable mining in the Autonomous Region of REPORT Bougainville Copper Limited1 BACKGROUND 2 THE YEAR IN BRIEF3 CHAIRMAN S STATEMENT AND OUR YEAR IN REVIEW 6 DIRECTORS REPORT8 RESOURCE STATEMENT 9 CORPORATE GOVERNANCE STATEMENT16 FINANCIAL STATEMENTS36 DIRECTORS DECLARATION37 INDEPENDENT AUDIT REPORT41 CORPORATE INFORMATION44 DISTRIBUTION OF THE BENEFITSCONTENTSI ncorporated in Papua New Guinea 007 497 8691 ANNUAL REPORT 2016 From 1972 until 1989 when operations were suspended, Bougainville Copper Limited (Bougainville Copper or the company) operated a large open pit mine and processing facility at Panguna on Bougainville Island in the North Solomons Province of Papua New Guinea (PNG) producing copper concentrate containing significant quantities of gold and silver.
2 ˜˚˛˝˙ˆˇ˘ˆ ˚ ˆ ˆ On 30th June 2016, Rio Tinto announced that it was divesting its 53.8% shareholding in Bougainville Copper Limited. This has …
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