Lawyers representing the plaintiffs, Matthew Mennilli said villagers are seeking compensation for losses and damages, which are expected to reach billions of dollars.
The Zhitong Finance App learned that thousands of people in Bougainville (Bougainville) in the autonomous region of Papua New Guinea have filed a class action lawsuit against Rio Tinto (RIO.US) and its former subsidiary Bougainville Copper, accusing it of historical mismanagement of the large-scale Panguna copper mine (Panguna copper mine).
The Panguna copper mine operated by Bougainville Copper (Bougainville Copper) closed in 1989 because local protests over the mine's revenue distribution turned into a civil war, which killed as many as 20,000 people. Matthew Mennilli, an attorney at Morris Mennilli law firm in Sydney representing the plaintiffs, said the villagers are seeking compensation for losses and damages, which are expected to reach billions of dollars.
Rio Tinto said that class action lawsuits against Rio Tinto and Bougainville Copper Company have been initiated in the National Court of Papua New Guinea. The company stated, “We are reviewing the details of the claim. As this is an ongoing legal matter, we are unable to comment further at this time.”
This legal lawsuit is funded by Panguna Mine Action LLC (Panguna Mine Action LLC), which specifically funds investigations and lawsuits, based on the content of its website. There is a litigation funding agreement between the PMA and each group member, and the funder will be reimbursed for the costs and a portion of the compensation.
In 2020, the Bougainville copper industry estimates that it will take 7 to 8 years and $5 billion to $6 billion to rebuild and restore full operation of the Panguna copper mine. Copper is a metal critical to the energy transition. Due to its ability to conduct electricity, the price of copper on the London Metal Exchange rose to an all-time high of more than $11,000 per ton this week.