Bougainville Copper (ASX:BOC) is navigating a high-stakes standoff with its majority shareholder, the Autonomous Bougainville Government, regarding the selection of a strategic partner to redevelop the historic Panguna Mine.
Following a confidential selection process managed by advisory firm Grant Samuel, the BCL board selected China-based CMOC Group as its preferred partner in December 2025, citing the company's strong track record with large-scale copper projects in developing economies.
On Jan. 28, the President of the ABG—which holds a 72.9% controlling interest in BCL—formally rejected the CMOC recommendation. Instead, the President expressed a preference for India’s Lloyd Metals & Energy.
Despite LMEL initially withdrawing from BCL’s official selection process, the company signed a non-binding memorandum of understanding directly with the ABG in November 2025.