OTML sets new production record in Q1

Ok Tedi Mining Limited (OTML) has announced a record-breaking production achievement for the first quarter of 2024, producing 26,114 dry metric tonnes (DMT) of copper.

This marks a significant 61% increase from the previous year's Quarter One (Q1) production of 16,265 DMT.

The company also reported outstanding safety performance, with a Lost Time Injury Frequency Rate (LTIFR) of zero and a Total Recordable Injury Frequency Rate (TRIFR) of 0.22, showing improvements from 2023’s rates of 0.21 LTIFR and 0.63 TRIFR.

In line with its commitment to environmental responsibility, OTML achieved these production results while fully meeting all environmental Key Performance Indicators (KPIs) at its Mine, Mill, and Bige dredging site. This milestone aligns with the strategic initiatives set out in the company’s ‘restore, reset, and reinvigorate' strategy, which was launched in 2023 to boost business operations.

The company also highlighted its ongoing commitment to community relations and regulatory compliance, ensuring the continued support of local communities for sustained operations.

Looking to the future, OTML is poised for sustained growth following OTML Board’s provisional approval of a Mine Life Extension up to 2050. The company is advancing several strategic growth projects expected to yield K30 billion in social benefits over the next 27 years, including taxes, royalties, and dividends.

These developments underscore OTML’s dedication to operational excellence, innovation, and responsible mining practices, central to its Vision 2023 strategy and its role in supporting the sustainable development of Papua New Guinea’s economy.

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