Ok Tedi Mining Limited (Ok Tedi) is pleased to announce the granting of clearance from PNG’s Independent Consumer and Competition Commission (ICCC) in relation to the purchase of the Misima Gold Project from Kingston Resources Limited (Kingston). This marks the completion of all conditions precedent required to fully complete the transaction.
On 20 May 2025, Ok Tedi announced the purchase of the Misima Gold Project in PNG from Kingston for A$60M (PGK156.642M), with further contingent payments totaling up to A$35M (PGK91.35M). This approval satisfies all conditions for the purchase of the Misima Gold and Silver Project from Kingston, officially making it an Ok Tedi entity as of last week Thursday, July 10th, 2025.
This acquisition marks a significant milestone in the company’s Growth 2050 Strategy and
reaffirming its commitment to sustainable, nationally driven resource development.
“We are proud to welcome the Misima team into the Ok Tedi family,” said Ok Tedi, managing Director and CEO, Kedi Ilimbit. “This acquisition signals a bold new chapter for Ok Tedi as we expand our footprint and future-proof our business for generations to come.”
The Misima Mine, which currently employs 31 people, will continue operating under their existing employment terms during a structured integration phase.
“Ok Tedi is committed to ensuring a smooth transition and is working closely with
employees, landowners, and local leaders to ensure the continued success of the project.
“This is more than a corporate transaction,” Mr. Ilimbit said. “It’s about PNG ownership, community partnership, and responsible growth.”
The Misima Gold and Silver Project, located 625km east of Port Moresby in Milne Bay, has a current mineral resource estimate of 3.8Moz of gold and 22.1Moz of silver.