Ok Tedi Mining Limited

Werror appointed as OTML MD

Werror’s appointment was announced by Chairman of Ok Tedi Mining Limited Board, Sir Moi Avei, following the Ok Tedi Mining Limited 2019 Annual General Meeting held on 22 May 2020.

Werror’s career spans more than 30 years with Ok Tedi, having joined via the Company’s Graduate Development Scheme.

He progressively assumed more senior roles leading to his current position as Deputy CEO and General Manager External Relations.

Ok Tedi Declares K754m profit

Sir Moi noted: “The Company distributed PGK 400 million in dividends during 2019 while investing a further PGK 408 million in the strategically important Crusher Replacement Project. This project will be completed later this year enabling access to higher grade ore and delivering an increase in production and cash generation in 2022 and beyond.”

“The results reflect the benefit of improved production and continued cost discipline and were particularly pleasing given that dry weather had prevented shipping on the Fly River for more than 50 days at the end of 2019” said Sir Moi.

OTML sets-up COVID-19 screening station

The station began operation on Saturday 11th April and will screen all commuters entering Tabubil.

The station was opened on Friday 10th April by Western Province Deputy Provincial Administrator and Chairman of the province’s COVID-19 Taskforce, Michael Viru.

Also, in attendance was Provincial Police Commander, Chief Inspector Silva Sika, and representatives from OTML, Tabubil Hospital and the community.

Oksapmin secondary on second phase of construction

Hausman Building Solutions has been awarded the contract to build new dormitories, ablution blocks and a mess hall.

Upon completion, the project is expected to cost K36 million. Learning facilities and infrastructure that have been completed under phase 1 of the project include 2 two-level double classrooms, an administration building, science laboratory, library and seven teachers’ houses.

OTML declares 2019 interim dividend payment

This follows a final 2018 dividend payment of PGK200 million paid in the first quarter of 2019.

OTML Chairman Sir Moi Avei said: “The Company is pleased to be in a position to make a distribution to the State, who hold 67 percent of the shares in Ok Tedi, and the Western Province entities representing the Fly River Provincial Government, CMCA and Mine communities, who hold 33 percent of the Company.

OTML marks 35th anniversary

It has produced 5 million tonnes of copper, 15 million ounces of gold and 33 million ounces of silver, said), the Managing Director and CEO, Peter Graham, at the 35th anniversary celebrations on August 25th.

“Last year we celebrated 50 years since the resource was discovered at Mt Fubilan. This year its 35 years since we started production at Ok Tedi; that says something about how strong and resilient we are to keep on operating through 35 years, and that was through some difficult times; like the earthquakes, landslips and dry weather,” Graham said.

International copper board visits OTML

Ok Tedi’s Executive Management team, led by Managing Director and Chief Executive Officer Peter Graham, presented an overview of the business during lunch in honour of the guests on Tuesday 13th of August, soon after their arrival in Tabubil on a special Ok Tedi chartered flight from Cairns, Australia.

“Ok Tedi has shared a long-standing relationship with our smelter customers for many years. This visit has further strengthened our relationship with our customers and we look forward to continuing these mutually beneficial ties into the future.

Tabubil-Kiunga Highway to be sealed

In a statement, OTML says: “This follows the recent launching of the project in Kiunga last month. The project will commence in Kiunga with the rehabilitation of the main roads in the township before proceeding to the highway by October this year.

“The highway is a vital link for the transportation of mine consumables, fuel and food from Kiunga to the mining township of Tabubil and holds the copper concentrate pipeline that transport the concentrate from the Processing plant to Kiunga.

Ok Tedi kicks off 2019 roadshow

This is part of its program to inform students about the company and the training programs that are available in 2020.

The Main Lecture Theatre at the University of Papua New Guinea was packed to capacity with attendees keen to know about the different training programs offered by OTML. Similar reception was received at the Port Moresby Technical College and the Don Bosco Technical Institute.

Final K200m dividend for shareholders: OTML

This payment is in addition to the interim 2018 dividend of K100 million paid in July 2018.

Following the transfer of additional equity from the State to Western Province entities in April 2018, 67 percent of these dividends are paid to the State, with the remaining 33 percent paid to the Fly River Provincial Government, CMCA and Mine communities.