Lloyds Metals & Energy Ltd. was authorized on Aug. 7 to carry out "an approved programme of preparatory works and feasibility activities" to "properly assess and plan the future redevelopment of the Panguna mine,** the Autonomous Bougainville Government said in a statement.

The Panguna copper mine in the Autonomous Region of Bougainville of Papua New Guinea has been closed for almost 40 years and was once a flash point in a brutal civil war.

The authorization allows the Indian iron ore producer to begin work toward restarting the giant copper mine, marking a significant step for the region's mining sector and potential economic redevelopment.