OK Tedi Mining Limited (OTML) is set to celebrate its 40th anniversary, marking four decades of resilience and excellence in Papua New Guinea’s mining industry.
Starting in August 1984 as a gold mining operation under Broken Hill Property Limited (BHP), OTML transitioned to a copper-gold mine in 1987. Since 2015, OTML has been fully 100 percent PNG-owned.
The journey of OTML has been marked by both challenges and triumphs. Throughout its history, the company has demonstrated remarkable resilience in the face of adversity, navigating significant issues such as:
Two major droughts in 1997 and 2015
The volatility of global gold and copper prices
Legacy issues related to its operational impact on the Ok Tedi and Fly River systems, as well as the communities that depend on them.
Despite these challenges, OTML has successfully provided substantial economic and social benefits to Western Province and Papua New Guinea over the last 40 years, including:
K13.4 billion in dividends
K1.4 billion in royalties
K10.2 billion in taxes and duties
K1.6 billion in compensation
K1 billion in CMCA payments
K664 million in tax credit scheme projects
K146 million invested in education and training for graduates, apprentices, trade trainees, and school and university scholarships Implementation of world-class operational and environmental mitigation and monitoring measures.
Looking ahead, OTML remains optimistic about continuing its operations for another 40 years. This optimism is evident in the renewal of its Special Mine Lease (SML) until 2042 and the Company Board’s in-principle agreement to extend the mine’s life to 2050.
A series of events will be held in November to commemorate the 40th anniversary celebrations. These festivities will not only honor the past but also focus on a bright and optimistic future.
