Ok Tedi Mining Limited (OTML)

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.

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.

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.

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.

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.

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).

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.

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.

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.