Numa Numa Resources Inc. Positioned at Nexus of Copper Supply Shift

As copper emerges as a silent champion of the global energy transition, Numa Numa Resources, focused on developing the Panguna Mine, sits at the crossroads of a supply-driven decarbonization push. Amid surging demand and limited supply, Numa Numa Resources is advancing development efforts on a project on Bougainville Island in the South Pacific. According to Numa Numa, the Panguna Mine holds known copper reserves of approximately 5.3 million metric tons. That figure represents roughly 5.3% of all currently identified copper reserves globally, placing Panguna in league with the copper endowments of entire countries. These reserves are substantial not only in absolute terms but also as a potential contributor to broadening the world’s supply base at a time when industry analysts argue for at least one new large-scale copper mine per year to keep pace with demand.

Bougainville, a resource-rich archipelago in the South Pacific, is perhaps best known as the home of the Panguna Mine. Developed by Rio Tinto, the Panguna Mine was the largest open cut copper and gold mine in the world when it operated from 1972 to 1989 before being shuttered due to a civil war, called “the Crisis,” between Bougainville and its parent government Papua New Guinea. In 2001, the Bougainville Peace Agreement ended the war and awarded Bougainville limited autonomy, including its own constitution, by which ownership of the mine reverted to its customary landowners. A majority of the Panguna Mine’s copper, gold, and silver ore resources remain within its walls, making the fully explored and developed Panguna Mine one of the largest ore bodies in the world, today worth approximately $100 billion.

Most geologists who have studied Bougainville believe that other nearby locations such as Mainoki and Karato are highly prospective and may contain ore deposits similar in size and scale to those of the Panguna Mine. The latest news and updates relating to Numa Numa are available in the company’s newsroom at https://nnw.fm/NUMA. To view the full article, visit https://nnw.fm/j9O5Z. Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://www.NetworkNewsWire.com/Disclaimer.