Research on conflict resolution suggests that the significant risk of conflict recurrence in intra-state conflicts is much reduced by political settlements that ‘resolve the issues at stake’ between parties to the conflict, and that in conflicts involving grievances about distribution of natural resource revenues, such settlements should include natural resource wealth-sharing arrangements. This article shows that the Bougainville conflict origins involved far more complexity than natural resource revenue distribution grievances, and that the conflict itself then generated new sources of division and conflict, the same being true of both the peace process and the process to implement the Bougainville Peace Agreement (BPA). As a result, the BPA addresses many more issues than natural resource-related grievances. Such considerations make it difficult to attribute lack of conflict recurrence to particular factors in the BPA. While the BPA provisions on wealth-sharing address relations between the Papua New Guinea National Government and Bougainville, moves by the Autonomous Bougainville Government to explore possible resumption of large-scale mining has generated a new political economy in Bougainville, contributing to new tensions amongst Bougainvilleans.