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.
BCL has noted that it currently lacks specific details regarding LMEL’s proposed investment or involvement terms.
At the time of reporting, Bougainville Copper's share price was $0.87.