Bougainville copper

reserves quadrupled

Estimates of copper reserves at Panguna, Bougainville, have almost been quadrupled to nearly 1.000 million tons of low-grade ore—ranking the deposits bigger than all the deposits in Aus tralasia and comparable with the world’s biggest copper deposit.

Conzinc Riotinto, which has a two-thirds interest in the Panguna project, announced in late August that 500 million tons of ore with an average grade of 0.51 per cent, copper and 0.4 dwt. a ton gold were available for open-cut mining.

In addition, recent drilling has indicated another 400 million tons of lower-grade copper. Pre viously CRA had proved ore reserves of 230 million tons at a slightly higher grade.

While a final decision to go ahead with the mining opera tions has not been officially made, there is now little doubt the green light will be given.

If hoped for production of 120.000 tons of copper con centrate is produced annually it will be worth SI20 million a year in exports for New Guinea.