The people of Bougainville through their Autonomous Bougainville Government (ABG) now own 72 percent (%) of Shares in Bougainville Copper Limited (BCL), a momentous step towards their economic independence as the Referendum process continues. This was made a reality when the Papua New Guinea (PNG) Government through Kumul Mineral Holdings Limited along with the President of the Autonomous Region of Bougainville (AROB), signed the transfer of the Deed to the ABG today at the Government House in Port Moresby city. BCL is a publicly listed company in the Australian Stock Exchange and is the operator of the Panguna Mine, which has remained closed for over 30 years following a decade long civil war over the mine. Nevertheless, at present things are moving forward to a better future and relations between PNG and Bougainville, something which Prime Minister James Marape holds high regards to. He said the country has witnessed a historic and milestone moment today in the shared relationship with Bougainville. He thanked the ABG President Ishmael Toroama and his delegates for making time available to sign this important transaction between Kumul Mining and its subsidiary Eda Mineral, for and on behalf of the greater people of PNG. The signing today was also made possible with the acceptance of the National Executive Council decision by the Governor General, to transfer the 36.42% of share in BCL, to the ABG for and on behalf of the Bougainville people. “This now gives the people of Bougainville 72% share in Panguan Mine." "The BCL company is now trading at 39 cents on the stock exchange. So, all in all, convertibly to PNG Kina, it’s over K140 million worth of asset that is being transferred to our people of Bougainville." “I want to commend president Toroama’s leadership. He has been advocating very strongly with Regional Member, Minister Tsiamalili on the need to empower Bougainville," said PM Marape. Panguna Mine in the first thirteen (13) years of PNG’s nationhood from 1975 to 1987, supported the economy with over 30% of internal revenue before the other resource projects came online. Meanwhile, president Toroama expressed great appreciation to the PM and the PNG Government for finally handing over the BCL Shares to Bougainville. "I truly cherish this time honorable prime minister for giving back what belongs to the people of Bougainville,” said President Toroama. “I stand tall today because of you, honorable prime minister, in liberating my people of Bougainville. It is truly a Melanesian way of getting to know one and other.”