The Autonomous Bougainville Government (ABG) has approved a five-year extension of Exploration Licence to Isina Resource Holdings Limited. The licence was presented to company representatives by the ABG Minister for Mining and President Ishmael Toroama, middle, at Arawa. 26 March 2025 Photo: Autonomous Bougainville Government
Canadian mineral exploration multi-national Island Passage Exploration Ltd says its Bougainville subsidiary, Isina Resource Holdings Ltd (IRHL), has been given a five-year renewal on its exploration licence.
The site in the Crown Prince Range of Central Bougainville, just a few kilometres from the Panguna copper gold mine, is thought to contain multiple metals, including copper and gold.
According to the Autonomous Bougainville government (ABG), IRHL is a 100 percent owned local Bougainville company that has partnered with Island Passage Exploration to further develop the project going forward.
Island Passage Exploration chief executive Donald McInnes said his company is very impressed with the rapid and transparent renewal process by Bougainville's Department of Mining and Petroleum.
He said they look forward to continuing a systematic exploration of the licence area throughout this year.
Acting chief executive of Isina Resource Holdings Glen Tovirika said the renewal is a sign of trust for the project and our partners at Island Passage Exploration.
He said for the first time in the history of Papua New Guinea, mineral rights have been granted to the indigenous owners of the land, and the people of Bougainville are made stronger by this renewal.
"The customary landowners in the Isina region will continue to provide for our employees and support our partners," he said.
"We will continue to maintain peace and harmony between the project, the landowners, and the people of Bougainville through constant social awareness and open sharing of information and ideas."
He added that the partnership will lift up war-torn Bougainville to the next level, bringing hope for a brighter future to the next generations of Bougainvilleans.
