PNGCore president praises Ok Tedi Mine for its strong performance in first quarter

THE Special Mining Lease extension for Ok Tedi Mining Limited (OTML) culminates with its first quarter results of a record production which represented a 61 per cent increase from the same period last year, says the chamber.
Papua New Guinea Chamber of Resources and Energy (PNG Core) president Anthony Smare, on behalf of the PNG energy and resources sector, said this performance by the miner was achieved while fully meeting all environmental key performance indicators across their operations, highlighting its commitment to responsible production and sustainable practices.
Smare said this when congratulating OTML on the extension of its SML 1 and its achievement in continuing to extend the mine life.
“The production of over 26,000 dry metric tonnes (dmt) of copper, represents a 61 per cent increase from the same period last year,” he said.
On Tuesday this week, the State formally granted the new SML to OTML, extending the life of Ok Tedi mine for a further 20 years, to 2042.
Smare said Ok Tedi was one of the world’s top mines because of its productivity and life as it was initially expected to close in the early 2000s.
“To see the work that has been done in identifying and mining new resources and reserves, and extending the mine life now to 2042, is a tremendous achievement by OTML, by its management and team, and by its shareholders Kumul Minerals Limited, the Western province and landowners.
“Ok Tedi is not just a major contributor to the country through its taxes, but contributes significantly through social programmes in its impacted areas in Western and Sandaun (West Sepik) provinces, and it is wonderful to see with the extension of mine life that OTML’s record of uplifting the communities will continue.
“I commend the board, management of OTML under chief executive officer and managing director Kedi Ilimbit, and the staff of the company on their hard work and dedication as they continue to progress the operation of the Ok Tedi mine,” Smare said.