Ok Tedi Mining Limited (OTML)

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.

OTML exceeds dredge target at its Bige operations

The developer has also exceeded its rehabilitation target of 35 hectares for 2023 at its Bige Operations, located 125km from the mine.

The Bige Operations dredged 10.3 Mm3 of river sediments and rehabilitated 40 hectares (ha) of sand stockpile in 2023.

The Bige Operations team had set an annual sediment dredge target at 10Mm3 and 35ha of stockpile rehabilitation for 2023, but have exceeded those figures through hard work, perseverance and commitment, despite a few challenges, including the dry weather.

Everyday People: Anna Ila

The 'Women in Safety' network, comprising safety professionals across Australia and the Asia Pacific region, conferred the accolade in acknowledgment of Ms. Ila's exceptional contributions.

This recognition is not only a significant milestone for OTML but also underscores the company's dedication to fostering gender diversity and inclusion within its operations.

Ila emphasised the transformative impact of women in enhancing workplace safety, particularly in the mining industry where inherent risks demand vigilant safety measures.

OTML declares K350m final dividend

This announcement follows the earlier declaration of an interim dividend of K100m on October 26, reflecting the company's positive outlook.

Expressing gratitude, OTML board chairman, Jeffrey Innes, credited employees, contract partners, and mine-impacted communities for their unwavering support throughout 2023.

He highlighted 2023 as a transformative year for OTML, marked by the appointment and restructuring of a new senior leadership team.

OTML Expects K30 Billion in Benefits with Mine Life Extension

This projection, inclusive of taxes, royalties, and dividends, is aligned with the company's strategic plan to extend the Life of Mine (LOM) to 2050.

OTML Managing Director and CEO Kedi Ilimbit unveiled this ambitious plan, emphasizing the company's commitment to sustainable development for communities impacted by mining operations in the Western Province and Papua New Guinea.

OTML empowers women

The ceremony, held on November 22nd and 29th in Tabubil, featured two sessions to accommodate the diverse work rosters of the participants.

The RISE Program, initiated in 2021, marked its third cohort this year, offering a comprehensive 7-month curriculum aimed at empowering and developing female employees for their current roles and future promotional opportunities. A total of 90 women employees have now completed the program, demonstrating OTML's dedication to fostering a diverse and inclusive workforce.

OTML gets on as ‘principal sponsor’

The conference will be held from December 10th-13th at the Sydney International Convention Centre under the theme: ‘PNG Resources and Energy: Promoting Sustainable Investment’.