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Large Copper/Gold Mine - Shut Down since 1989

Copper mines world wide are getting depleted. There is one copper mine that is listed on the ASX in Australia that has not produced any copper/gold since there was a civil war in 1989.

The mine is located on the island of Bougainville off the coast off Papua New Guinea. The name of the mine is Panguna. The company that has the rights to exploit the mine are held by Bougainville Copper Limited, listed in Australia.

The mine operated from 1971 to 1989. Mining was stopped in 1989 due to local population militant activity at the mine. Since then the mine has been shut down

Rio Tinto was 53.8% shareholder of the mine. The Government of Papua New Guneae held 36.4%. In 2017 Rio Tinto relinquished it's shareholding in the mine to the Government of Papua New Guinea.

Ultimately Bougainville wants to become independent of PNG. There are discussions ongoing for making Bougainville an independent state. This could lead to a re-opening of the panguna mine.

The order of Magnitude study that was done by Rio Tinto for the reserves is attached & below. It is a very large porphyry deposit, that is easy to mine.

5.3 MT of Copper Resource

19.3 M oz of Gold Resource

Probably one of the largest easy to mine copper/gold deposits in the world

Stock traded on ASX since 1989. Very illiquid. I owned it and sold it a few years back, when Rio Tinto relinquished it's shares.

If the traditional landowners, the Autonomous... (More)

Weekend Trend Update: A bit of everything highlighting some of the topics covered in the Friday's RV Daily Briefing.

@Ash Bennington and @Raoul Pal had a great discussion on the RVDB Friday night and I wanted to share a chart I created showing the 2yr yield vs the 10yr yield. I also take a look at some stock indexes, gold, copper, soybeans, rice,platinum,and Brent crude oil. Lastly, a recommendation to check out @Han S Rhee excellent video on bitcoin and ethereum.

Commodity Trends! Energy, grains, precious metals, industrial metals, softs, and meats!

Taking a look at the state of the trends in the constituents of the Bloomberg commodities index referenced in my video from a couple of days ago. Apologies for the weird ending...I decided to break the videos up. If you want to see the demo of the sizing tool, check here.

Gold underperforming, Copper/Gold ratio is flying, completely out of whack with US 10 year rates, US US10 Rates need to be 50bp higher, or Gold 200 bucks up or Copper 40 cents lower, take your pick!