Bougainville Seeks Economic Independence from PNG

Papua New Guinea's Prime Minister James Marape emphasized that Bougainville must increase its internal revenue from 7% to at least 50% to support its independence aspirations. Bougainville President Ishmael Toroama announced plans to reopen the Panguna copper mine, which has the potential to generate $36 billion over 20 years, as part of this strategy. The region voted overwhelmingly for independence in a 2019 referendum, but the Papua New Guinea government has yet to ratify this decision. Marape expressed support for Toroama's authority in business decisions regarding the mine and welcomed international investors to assist in revitalizing Bougainville's economy. Although a timeline for independence is set by 2027, Marape mentioned that this is subject to parliamentary processes. Both leaders acknowledge the need for sustainable economic development to ensure successful independence from Papua New Guinea.