Bougainville Copper (ASX:BOC) said the process to obtain an international mining partner for the redevelopment of the Panguna project at Bougainville, Papua New Guinea, remains ongoing, according to a Wednesday filing with the Australian bourse.

There is no certainty that any partnership deal will arise from the company's recent talks with the Autonomous Bougainville Government (ABG) for its role and participation in the project, the filing said.

The ABG controls about 72.9% of the issued shares in the company, the filing added.

Any partnership deal or the company's participation in the redevelopment of the project will need the ABG's approval, the company said.

Shares of the company fell 2% in recent Wednesday trade.