The Autonomous Bougainville Government vowed to take action after alleged arson destroyed equipment at the Panguna copper mine in Papua New Guinea, according to a report by RNZ Pacific. Heavy machinery and vehicles belonging to India's Lloyds Metals & Energy Ltd., the mine's newly appointed contractor, were destroyed in the fire. The incident threatens efforts to restart the giant copper mine almost 40 years after it was shut down.

The Panguna mine, once one of the world's largest open-pit copper mines, has been closed since 1989 due to a decade-long civil conflict sparked by environmental damage and disputes over revenue sharing. The Autonomous Bougainville Government's commitment to investigate and respond to the arson underscores the ongoing tensions surrounding the potential reopening of the mine, which holds significant economic importance for the region. Bloomberg reporters Preeti Soni and Satviki Sanjay covered the developing story.