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Business |
Closure plan for Ok Tedi ‘vital’
By FRANCIS TEKEI
Planning for the closure of Papua New
Guinea’s biggest single business – the Ok Tedi mine – has been
described as “absolutely vital”.
Ok Tedi Mining Ltd mining director Keith Faulkner told
participants of a two-day workshop on mine closure held in Tabubil
last week the closure of the Ok Tedi mine would significantly
impact on the nation and that the mine closure planning is
“critical”.
“The importance of OTML to the economy of this country is so large
that its closure is going to have a big impact.
“So, planning for closure at all levels is very vital, quite an
important thing for us to do.
“We are not just considering how it impacts on the North Fly, or
the Middle Fly and South Fly and the Western province.
“We’ve got to consider how it impacts on the country as a whole,”
Mr Faulkner told workshop participants who included national and
provincial government officers and village leaders.
Mr Faulkner said it was a legal obligation and moral
responsibility for OTML to complete the mine closure plan for 2013
as stipulated in the ninth supplemental agreement act and the
closure code within that act.
Department of Mining deputy secretary Steve Nion also made similar
remarks.
Mr Nion also called for all stakeholders to work together to
ensure the positives of mine closure were maximised and the
negatives minimised.
He encouraged stakeholders to continue to work together to produce
a mine closure plan that would leave a positive legacy for all.
He also revealed planning for mine closure was now a National
Government policy and commended OTML for its commitment and effort
so far towards the mine closure planning process.
Over the past 20 years, OTML has contributed about 20% of PNG’s
export revenue and 10% of the country’s gross domestic product.
In 2006, the company paid record taxes of K1 billion to the
National Government and dividends of K1.8 billion to its
shareholders which included the local landowners, the Fly River
provincial government and the National Government.
 
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