BCL share price collapses as investors ditch stock

Bougainville Copper Limited’s share price has collapsed over the last few days, plunging 30% since markets reopened on December 28 after the announcement of a moratorium on mining at Panguna.

The company stock is now trading at 19 Australian cents, more than 50% down on a high of 40 cents in August 2017.

More than 750,000 shares have been traded in just the last four days as investors rush to drop the stock after the Autonomous Bougainville Government announced an indefinite moratorium on mining and rejected an application by BCL to renew its mining licence, saying the company has lost its social licence and citing fears of civil unrest.


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Filed under Financial returns, Mine construction, Papua New Guinea

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