K19bil in social benefits expected

THE Ok Tedi Mining Limited (OTML) mine expects to generate over K19 billion in social benefits for the benefit of Papua New Guinea over the next 10 years within its current life, says managing director and chief executive officer Kedi Ilimbit.
“OTML has tripled its value in the last six years with an extended mine life to 2033 with a possibility of further extension,” he said.
Ilimbit said OTML was strengthening its operations to deliver maximum return to its shareholders, mine impacted communities and the people of PNG.
He said this when speaking to OTML and business partner employees during a recent roadshow.
The roadshow was conducted to inform employees about OTML’s new vision, and the improvements that were being undertaken to strengthen the mine’s operation to ensure maximum return.
“Our focus currently is to ensure existing systems and processes we have in place are improved to strengthen our operations and derive maximum value of the resources we have during and beyond the current life of mine plan of 2033,” he said.
OTML’s new vision is to operate with excellence, maximising the value of our mineral resource in an environmentally responsible way, to deliver sustainable economic and social benefits to our communities and the people of PNG.
“With this new vision, we are excited about Ok Tedi’s future, and will be working with all our employees, business partners, communities and shareholders to make Ok Tedi the best it can be as it provides us guidance about why Ok Tedi exists and what is the desired result of our efforts,”Ilimbit said.