Two 17-year-old males have been charged with murder.
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The charges relate to the disappearance of Launceston teenager Billy Ray Waters, who was last seen alive on Sunday, August 4.
The pair appeared in an after-hours closed court sitting in Launceston on Sunday evening.
A 33-year-old man, also arrested, remains in police custody and is assisting police with their inquiries, Detective Acting Inspector Craig Fox said.
"A body located at Mayfield on Friday has not yet been formally identified but it is believed to be Billy," Detective Acting Inspector Fox said.
The body was found in bushland at Mayfield, about 500 metres from the Mowbray Golf Club, on Friday afternoon.
It was concealed under leaves and branches.
Detective Acting Inspector Fox thanked the public for its assistance in providing information, which led police to the Mayfield scene.
"Police would like to thank the members of the public who came forward to Crime Stoppers with information," he said.
Detective Acting Inspector Fox also praised the excellent "investigation police work" of the officers involved.
The thoughts and condolences of Tasmania Police are with the alleged victim's family and loved ones during this difficult time, he said.
Billy Ray Waters, 19, was officially reported missing on August 11.
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