Big first quarter figures

OK TEDI Mining Limited (OTML) has announced a record 26,114 dry metric tonnes (dmt) of copper, marking a 61 per cent increase in the first quarter of production.
The same period last year saw about 16,265 dmt produced.
This record production has been complemented with a safe start to the year with a Lost Time Injury Frequency Rate (LTIFR) of zero and Total Recordable Injury Frequency Rate (TRIFR) of 0.22 compared to 2023 with LTIFR and TRIFR recorded at 0.21 and 0.63.
The strong production results was achieved with all environmental key performance indicators at the mine, mill and Bige dredging site being fully met, as well as OTMLs ‘restore, reset, and reinvigorate’ strategy, launched in 2023 to revitalise our business operations.
OTML chief executive officer and managing director Kedi Ilimbit said the performance was a testament to the company’s commitment to responsibly enhancing production, implementing strategic business improvements, and optimising operational efficiency across the entire production chain, from mine and mill to the port.
“Importantly, the company remains committed to fulfilling our environmental, legal, and social obligations, consistent with the vision to maintaining positive relationships with the communities impacted by our operations, and thereby securing the social licence to continue to operate, which is vital for our success,” he said.
“Looking ahead, with the approval for the Mine Life Extension in principle up to 2050 by the OTML board, the company is poised for sustainable growth.
“OTML is actively pursuing strategic growth projects aligned with our current Strategic Business Plan, which are progressing successfully and anticipated to generate K30 billion in social benefits over the next 27 years, including taxes, royalties, and dividend payments,” Ilimbit said.
He added that OTML’s record production in the first quarter of 2024 underscored its commitment to excellence, innovation, and responsible mining practices.
Ilimbit also said that OTML was focused on driving value for its stakeholders while contributing to the development of the affected communities and the national economy.