The Bougainville government has imposed an indefinite moratorium on mining at the controversial Panguna site — once the world's biggest open-pit copper mine.
The Egypt-focused gold miner also expects solid growth this year. It’s targeting 580,000 ounces in production, up from an estimate of 550,000-560,000 ounces.
The World Bank-supported mining legislation was introduced to attract investment into copper and cobalt projects from global miners including Glencore Plc, Freeport-McMoRan Inc. and China Molybdenum Co. Gécamines claims country has not benefited from it.