Ok Tedi mine resumes normal operation


THE Ok Tedi Mining Ltd (OTLM) has returned to normal operations, it announced yesterday.
This was after the second of the two processing circuits which was damaged by in a fire last Dec 20 last, was repaired last weekend.
OTML managing director and chief executive Musje Werror thanked the OTML team which worked for almost six weeks to restore the circuit safely without any incidents.
“The commitment shown by our workforce, particularly over the festive season, was testament to the ‘One team, wan pasin’ spirit at Ok Tedi,” he said.
“Returning the first of the two circuits to operation was a key milestone as it allowed the company to recommence production and meet our January shipments.
“Damage sustained to the SAG-1 was, however, more severe and required two new switching equipment.
“The new equipment, which was flown to the site on a chartered Hercules C130 aircraft last week, was successfully installed over the weekend.”
Werror noted that the financial impact of the incident was around US$100 million (K343.11 million).
He said the company maintained a strong balance sheet for the security of its shareholders.
He cited the shutdown associated with the Covid-19 pandemic last year and an earthquake which occurred in 2018 as examples.
“We have demonstrated previously that the company is able to remain profitable and healthy despite such challenges, and we expect to do so again in 2021,” Werror said.