Authority hails Ok Tedi

THE Mineral Resource Authority (MRA) has hailed Ok Tedi Mining Limited (OTML) for passing all the requirements in the process of attaining its Special Mining Lease licence and supporting tenements.
This has now granted the mining company a 20-year extension on lease for operations providing an opportunity to contribute to sustainable social and economic benefits to the country.
MRA managing director Jerry Garry said the past management of OTML had not been cooperative in terms of accountability and being transparent with their reports which had forced the regulator to hold back the extension licence while carrying out a check of OTML’s application for extension.
“Under the past management the country has lost up to 20 to 40 per cent in metals recovery for gold and copper respectively,” he said.
“This unaccountability has forced the MRA to carefully look at OTML’s application for extension which had taken us two years.
“However, since the change in the management OTML has followed through the process and have been transparent since the beginning with all the information required from their end as well as meeting requirements from the Conservation Environment Protection Authority.
“Today OTML is doing much better by going from 58 per cent gold recovery to now 75 per cent, and less than 70 per cent recovery of copper before to 80 per cent copper recovery today,” Garry said.
Meanwhile, OTML managing director and chief executive Officer Kedi Ilimbit said the mine was projected to continue beyond year 2060 and was estimated to contribute about K30 billion to the economy over the next two decades.
“The first quarter of the mine from December last year to April 2024 has indicated that the mine could continue for another 30 years,” he said.
“Last year we have paid K450 million in dividends to the State and for the first time we have paid royalties of about K6 million to the host province.
“That was all in one month time and imagine OK Tedi in full operations, we truly believe in the capacity that we have, the human resource and the immense support of the Government to push us,” Ilimbit said.
He added that the mine site had been cleaned up to give a fresh look and the facilities were upgraded.