Ok Tedi Mining Limited (OTML)

OTML Hosts Mining Minister’s First Official Visit

Minister Dilu praised OTML’s Board of Management, leadership, and employees for their work and emphasized the significance of the recent renewal of OTML's Special Mining Lease. He highlighted the visit's purpose to explore plans for the mine's life extension and to ensure its continued contribution to the country’s economy.

OTML supports conference

The conference will be held from August 7-9, 2024, at the APEC Haus, Port Moresby. This is the second time that the MRA will be staging this two-yearly conference. The inaugural conference was held in 2022.

OTML lease extended to 2042

This marks the second extension since the initial lease, granted in 1981, was renewed in 2002 after its first expiration. OTML lodged the renewal application in compliance with the 1992 Mining Act provisions with the Mineral Resources Authority on December 20, 2021.

OTML sets new production record in Q1

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.

OTML provides funds for cancer screening equipment

The donation, announced during a Gala Fundraising Dinner led by OTML Managing Director and chief executive officer, Kedi Ilimbit garnered widespread support from business partners and local communities.

16 graduates join OTML’s GDS program

The program, designed to nurture emerging talent, recently admitted 16 individuals who completed their university programs in 2023 meeting the stringent entry requirements set forth by the GDS program.

General Manager of Social Performance and Sustainability Jesse Pile expressed his enthusiasm for the new intakes, urging them to seize the opportunity presented to them.

Ok Tedi’s CMCA agreement reviewed

The review process will encompass the entire CMCA, with a focus on total benefits packages. Village meetings, regional meetings, and working group meetings will be conducted during this period, involving representatives from the 158 CMCA and mine villages, regional centres, and key stakeholders.

On March 5, 2024, Ok Tedi Mining Limited (OTML) officially initiated the Community Mine Continuation Agreement (CMCA) Extension Review Project for the years 2024-2025.

OTML boosts partnership with PNGUoT

During the inauguration of PNGUoT’s Orientation & Registration Week on 8th February 2024, OTML's Managing Director & Chief Executive Officer, Kedi Ilmibit, emphasized the importance of producing graduates who are well-prepared for the demands of the industry.
 
Mr. Ilmibit outlined several key initiatives aimed at strengthening the partnership between OTML and PNGUoT, including:
 

OTML generates K684mil for December 2023

This result comes off the back of increased production and favourable metal prices, which were above budget for the month.

Other factors contributing to the record revenue include; strategic business improvements, operational efficiency, cost management, and uninterrupted copper shipments to buyers.

OTML produced a Copper Concentrate of 45Kdmt to push up sales in December generating USD$107 million (K398 million). Additionally, gold generated K278 million (USD$75 million) and Silver generated K8.9 million (USD$2.4 million).

OTML facilitates industrial training

This arrangement shows OTML's dedication to maintaining a strong industry-institution relationship with universities contributing graduates to its training programs and workforce.

These students, two males and two females from UNITECH's School of Engineering (Mining & Mineral Processing), are set to embark on a four-week industrial training program courtesy of OTML, beginning this month.