Ok Tedi study almost done

Business, Main Stories
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By SHEILA LASIBORI

THE feasibility study on extending Ok Tedi mine (above) in Western, beyond 2013 is nearing completion with much of the technical requirements completed.
According to the general manager for business development for Ok Tedi Mining Ltd (OTML) Ian Sheppard, the mine was a huge asset for the country not as just a mine but a business.
“The problem we have is that under the current mine plan in place, the operation closes in 2013-14 … unless you do something differently, then you will lose this tremendous asset called Ok Tedi mining and the asset is people, systems, the remaining equipment, and about essentially the corporate knowledge on how to do mining business.
“If in 2014 Ok Tedi mine closes, then Ok Tedi as the business separate from the group of employees that we have and the system that supports, them disappears … that is a tremendous loss for PNG.”
OTML managing director Alan Breen added the extension proposal would depend on the board’s approval and much of it would depend on how OTML will handle its wastes if granted approval to extend mine life.
Sheppard said in terms of mining concepts, they were concerned about the environment impact and impact on community, among others.
“We have to do it commercially because we are a mining business, not a social benefit society … we need to do this commercially,” he said of the mine as a business.
“So the objective of business development is what can we do now until 2014, or extend the life of that business.
“Part of that is trying to extend the life of the current operation,” Sheppard said.
The strategy is firstly, OTML must look after its home base, which includes current operations, Mt Fubilan open pit and the remaining mineral resource surrounding the pit … options to make it last longer at least by seven to eight years.