OK Tedi Mining Limited (OTML) yesterday announced the retirement of its chairman Sir Moi Avei who has successfully led OK Tedi for more than six and a half years.
OTML Managing Director and Chief Executive Officer Musje Werror acknowledged the significant contribution made by Sir Moi during his tenure.
He said under Sir Moi’s leadership the value of the OTML business has nearly tripled while mine life has been extended by six years to 2032.
“The outlook for the company is very positive with over K20 billon expected to be generated over this period,” Werror said.
He added that this has been achieved at the same time as the company has made a step change improvement in safety performance.
“2020 was the first year with no lost time injuries recorded in over 30 years.
“During that year recordable injury frequency rates fell by 42% and this followed a 27% improvement in the previous years.
“On behalf of the management, and the workforce, we are grateful to Sir Moi for his guidance, wisdom and the positive legacy he leaves and especially supporting the elevation of the first national to become Managing Director and CEO of Ok Tedi.
“He is warmly regarded by all at Ok Tedi, and we wish him well in his retirement,” Werror reiterated.
Sir Moi in announcing his retirement extended his wishful thanks to the shareholders for their support provided to him as the chairman and the faith shown to him and his board.
In addition to thanking directors past and present, Sir Moi acknowledged MD Werror and his predecessor Peter Graham, for their valued contributions leading OTML during his tenure, and thanked the workforce and local community for their efforts and support.
Meanwhile, an announcement on the new chairman will be made in due course once internal processes are completed.