Ok tedi mining 7 billion revenue for 2024 operations. Our registered office is located in Tabubil, Western Province, PNG. Oct 10, 2024 · OK Tedi Mining Limited (OTML) is celebrating its 40th anniversary of operation, marking four decades of resilience and excellence in the mining industry in Papua New Guinea. Jan 23, 2025 · OK Tedi Mining Limited (OTML) has reported a K5. The plaintiffs alleged that BHP dumped mine tailings waste into the Ok Tedi and Fly Rivers. OK Tedi is a business focused on the safe and profitable development of its ore reserves for the benefit of the people of Papua New Guinea. Representatives of women and children’s groups also participated in the entire process and were represented at the signing. This is a significant increase from 2023 (31%), 2022 (45%) and 2021 (98%). Learn about the challenges, rewards and opportunities of working at Ok Tedi, and view the latest job vacancies. During the conference, OTML’s Allan Ila highlighted the potential of deep-seated porphyry copper-gold intrusive stocks and skarn prospects in the Ok Tedi region. The Ok Tedi Values that guide expected behaviours of all people in our Company are: For decades, many millions of tonnes of contaminated mining waste have been discharged annually into Papua New Guinea’s (PNG’s) Ok Tedi and Fly river systems. In a groundbreaking achievement, Papua New Guinea's Ok Tedi Mining Limited (OTML) has set a new record by generating an unprecedented K684 million (USD$184 million) in revenue for the month of December 2023. The Ok Tedi mine is a major producer of copper concentrate containing gold and silver for the world smelting market in Germany, India, Korea, Japan and the Philippines. 9 billion) and an annual profit of about US$200 million (K786 million). In 2024, OTML achieved outstanding strong, safe and reliable production results, surpassing set targets for copper, gold, and silver. OTML has in order a total of twenty (20) 230 tonne class diesel-AC electricRead More Aug 29, 2017 · Rarely has a developing-country government been better prepared to negotiate with foreign investors than was the new government in Papua New Guinea in the mid-1970s as it prepared top deal with the huge Bougainville and Ok Tedi mining projects. Jan 2, 2025 · Ok Tedi Mining Limited was the proud recipient of the PNG Chamber of Resources and Energy (PNG CORE) Outstanding Environment or Climate Change Initiative Award during the PNG Investment Week in Sydney, Australia in December last year. Jan 23, 2024 · Ok Tedi Mining Limited (OTML) generated a record K684 million (USD$184 million) for the month of December in 2023, the highest recorded monthly revenue for the year. Starting in August 1984 as a gold mining operation by Broken Hill Property Limited (BHP), OTML transitioned to a copper-gold mine in 1987. Aug 9, 2024 · The Ok Tedi mine has successfully managed to rehabilitate the affected areas at Bige by planting trees in an attempt to mitigate the damage to the surrounding environment. Ok Tedi Mining Limited (OTML) invites applications for its 2025 Graduate Development Program. Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. OK TEDI MINING LIMITED ANNUAL REVIEW 2020 | 7 Our Vision centres around the principle that “nobody gets hurt, operating as one integrated team from pit to port: a high-performance organisation with employees proud to be part of a successful PNG-owned company”. Other highlights included K285 million in tax credit scheme, and K450 million in dividends for the year 2024. Ok Tedi is a copper, gold and silver mine in Papua New Guinea that employs mostly local people. Learn about its history, environmental impact, women's network and more. Ok Tedi Mining Limited currently generates annual revenue of approximately US$1 billion (K3. Stone has over 30 years of experience working in the international mining industry having worked in Australia, PNG, Africa and South, Central & North America in major resource companies. Oct 17, 2022 · With 10 years of mine life remaining, Ok Tedi Mining Limited (OTML) is committed to enabling a sustainable future for its 158 CMCA (Community Mine Continuation Agreement) communities post closure. Jun 22, 2023 · PNG's Ok Tedi Mining Limited (OTML) brings 100% of its sales revenue into the country and provides an average of more than US$600 Million in foreign currency annually into the Papua New Guinea market. Dec 12, 2024 · The Ok Tedi mine at Mount Fubilan in Western Province is PNG’s longest-running mine, having produced more than 5. Interestingly, Ok Tedi mine was due to be closed in 2010. 2, Ok Tedi Mining Limited (OTML), and the State representative from Mineral Resources Authority (MRA). It's the culmination of the state's wider reorganization of its Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. Since 1982 OTML has contributed over PGK23 billion to the economy of the Western Province and the Nation in the form of royalties, dividends, taxes, compensation, wages, and Are you ready to take the next important step in your career with a world-class, 100% PNG-owned mining operation? Join us at Ok Tedi Mine, located in one of the most beautiful and challenging parts of the world, and become part of our success story. Jan 22, 2025 · Papua New Guinea – Ok Tedi Mining Limited (OTML) has announced outstanding operational and financial results for the year 2024, highlighting another successful year of disciplined management and growth. Kumuls Minerals Holdings Limited's subsidiary KMOTL is a wholly owned subsidiary of Kumuls Minerals Holdings Limited (Kumul Minerals). About Us. A 100% PNG owned open-pit copper and gold mine located in the Star Mountains of the Western Province of Papua New Guinea | The Ok Tedi Mine Jul 20, 2011 · The OK Tedi Mine is an open cut copper operation located in Papua New Guinea, close to the headwaters of the OK Tedi River. The mine began producing gold in 1984. Ok Tedi Mining Limited (OTML, or the Company) is a proudly 100% owned Papua New Guinea (PNG) company which has been mining copper, gold and silver at Mt Fubilan open pit operations for over 40 years. It is also a sign of the confidence the board has in the company’s ability to deliver overRead More Jun 15, 2021 · Requisition ID 2339; Posted 15/06/2021; Location : Papua New Guinea ; Type: Full Time; Ok Tedi Mining Limited operates the longest running, world-class, open-pit, copper, gold and silver mine in Papua New Guinea. 8 billion) in revenue for 2024. 5 billion (K5. Other factors contributing to the record revenue include strategic business improvements, operational Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. Mr. The mine has produced 5. Managing Director & Chief Executive Officer, Kedi Ilimbit, announced the record revenue at the 2024 PNG Chamber of Resource & Energy Investment Week Conference in Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. 2019 HIGHLIGHTS ECONOMIC – PGK 754 M (USD 222 M) profit after tax – PGK 400 M (USD 118 M Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. Since 1982 OTML has contributed over PGK23 billion to the economy of the Western Province and the Nation in the form of royalties, dividends, taxes, compensation, wages, and 6 | ok tedi mining limited financial review 2019 ok tedi mining limited statements of changes in equity for the year ended 31 december 2019 consolidated company note ordinary shares k’000 retained earnings k’000 total k’000 retained earnings k’000 total k’000 balance at 1 january 2018 195,102 3,259,219 3,454,321 3,256,513 3,451,615 Dec 13, 2024 · Ok Tedi Mining Limited (OTML) is on track to generate US$1. Sep 3, 2024 · Our client Ok Tedi Mining Limited has operated successfully in the Start Mountains of the Western Province, PNG for over 36 years. We also have a representative office in Port Moresby, PNG and a logistics facility in Brisbane, Australia. Jan 24, 2025 · Ok Tedi Mining’s (OTML) 2024 copper, gold and silver production has set the company up for a strong year. Ok Tedi Mining Limited | 152,073 followers on LinkedIn. Jan 22, 2025 · Ok Tedi Mining Limited (OTML) is pleased to announce its exceptional performance results for 2024, showcasing yet another successful year of disciplined operational and financial excellence. It has a controversial history of environmental damage, social issues and nationalisation. OK TEDI MINING LIMITED ANNUAL REVIEW 2019 | 1 PREVIOUS PAGE NEXT PAGE. 2 million tonnes of copper, 15. Ok Tedi's success is driven by the people who work with us. This is your chance to start a rewarding career with a world-class mining operation, set in one of the most picturesque locations in Papua New Guinea. Dec 17, 2024 · In 2024, Ok Tedi Mining Limited (OTML) celebrated 40 years of production. 2% to 33%) Achieved the HIGHEST MINE PRODUCTION, ore processed and metal production in the last five years OK TEDI MINING HIGHLIGHTS 2017 ECONOMIC. For over 140,000 local inhabitants across 165 villages, the Ok Tedi mining disaster destroyed our homes, livelihoods, and way of life. The paperwork for the transfer of shares were signed in Government House. Dec 12, 2024 · Ok Tedi operates a large-scale copper and gold mining and processing facility in the Western Province of Papua New Guinea, with ore mined from at an annual rate of 24 million tonnes. This year, the Company has already provided US$272 Million into the PNG market as at June 20th. The Board of Ok Tedi Mining Limited has endorsed the appointment of Mark Stone as the Board Chairman, effective immediately. According to managing director Musje Werror, the Ok Tedi mine still contains roughly 200 million tonnes of resource that will remain in the earth after 2032 and can support mine operations long into the 2040s and even the 2050s. This mining pollution, caused by the collapse of the Ok Tedi tailings dam system in 1984 and the consequent switch to riverine disposal (disposal of tailings directly into the river) for several decades, was the subject of class action litigation brought by local landowners naming Ok Tedi Mining and BHP Billiton. However, following extensive mining studies which resulted in the further definition of the Mt. Ok Tedi Mining Limited is a 100 percent PNG owned company that operates the Ok Tedi Mine, an open-pit copper, gold and silver mine in the Western Province. 9 million ounces (oz) of gold and 36 million oz of silver since beginning commercial operations in 1984. However, it wasn’t until 1981 that OTML was incorporated as an entity from a resulting partnership between BHP, the Papua New Guinea Government, Amoco Corporation, and Inmet Mining Corporation. Learn about its safety, financial, social and environmental performance, and career opportunities. The company produced 103,246 tonnes of Copper metal, 265,830 ounces of Jul 8, 2021 · The state's 67 percent stake in Ok Tedi Mining Limited has been transferred to Kumul Minerals Ok Tedi Limited (KMOTL). OTML operates in a remote part of Western Province, with a registered office and senior management team located in Tabubil. Dec 10, 2014 · The life of the key Ok Tedi mine is to be extended for another 11 years, but with falling ore prices, lower head grades and production issues, its miner faces critical challenges ahead. The company produced 103,246 tonnes of copper, 265,830 ounces of gold, and 993,274 ounces of silver in 2024, which company head Kedi Ilimbit is attributing to the dedication of OTML’s workforce. The Bige Mine Waste Management project site, approximately 80km downstream from the mine, has been used to store the Ok Tedi mine waste by diverting the tailing disposal away with the transfer of additional OK Tedi equity to Landowner companies in progress (from 12. 8 percent. Ok Tedi Mining Limited is a Papua New Guinean company that operates the Ok Tedi Mine in the Western Province. Apr 9, 2021 · The following year, Ok Tedi became a majority state-owned enterprise when the SDP shares were cancelled, and the government of PNG scaled its direct ownership to 87. Ok Tedi No. Ok Tedi Mining Limited is a 100% PNG owned company that operates the longest running open-pit mine in the country. Mt Fubilan is a rich coppergold-silver deposit with several phases of mineralisation centred on two intrusions, known as the Fubilan monzonite porphyry, located in the northern half or Centre Pit area and the Sydney Ok Tedi Mining Limited (OTML) is pleased to announce its exceptional performance results for 2024, showcasing yet another successful year of disciplined operational and financial excellence. Sep 22, 2023 · The Board of Ok Tedi Mining Limited (OTML) has approved in principle a further mine life extension from 2033 to 2050, marking a significant milestone for OTML, its shareholders and for Papua New Guinea (PNG) in general. 2 Moz of gold and 37. This resulted in the miner paying K106 million in royalties, K346 million in taxes and K119 million in compensations. This result comes off the back of increased production and favourable metals prices, which were above budget for the month. 2 Moz of silver since 1984 and contributes to PNG's GDP and development. Ok Tedi Mine is an open-pit copper and gold mine in Papua New Guinea, operated by Ok Tedi Mining. 25 Mt of copper, 16. In this exclusive interview with Business Advantage PNG, Musje Werror, the man chosen to lead Ok Tedi Mining, outlines his strategy. OTML is a 100 percent Papua New Guinea (PNG) owned entity with 67 percent direct shareholding by the Independent State of PNG and the people of Western Province holding a 33 percent interest. Oct 31, 2021 · In 1994, Papua-New Guinean (PNG) landowners sued BHP in the Supreme Court of Victoria in Melbourne, Australia, alleging that BHPs operations at the Ok Tedi copper mine caused destruction of the surrounding environment and of their traditional lifestyle. The company produced 103,246 tonnes of Copper metal, 265,830 ounces […] Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. Fubilan resource Ok Tedi Mining Limited currently generates annual revenue of approximately US$1 billion (K3. Nov 8, 2022 · OK Tedi Mining Limited plans to extend its operation beyond the mine life in 2032. Feb 12, 2025 · Leading PNG open pit copper-gold-silver miner Ok Tedi Mining Ltd (OTML) is the latest major mining operation in the country to take a bold move with the introduction of large class Chinese mining equipment from XCMG out of Xuzhou, Jiangsu Province. The Ok Tedi mining operations are centred on the Mt Fubilan deposit located in the Star Mountains of the Western Province. Dec 13, 2024 · The appeal was dismissed in its entity and the Provincial Land Court further ordered OK Tedi Mining Ltd (OTML) to pay the respondent – Mr Faiwolok and his Wopkeinim Clan of Min Tribe, Tabubil, their due and outstanding royalty and other payments or benefits under any agreements with the OTML. It also announced that, in the next 26 years, it would deliver K40 billion in social benefits, taxes, royalties and dividends. Discovered in 1968, the mine is operated by Ok Tedi Mining Limited (OTML), a wholly owned company of the mine owner Papua New Guinea Sustainable Development Program Limited (PNGSDPL). Advised by an array of experts from around the world, including Marian Radetzki, we attained terms that were in many ways a model. But, as subsequent Mining in the Star Mountain region dates back to 1963 when copper mineralisation was first identified near the current OK Tedi mine site. suzvaexkmsdyawcaadvnwxhvfdpusepzmdjqpdxgubxxrywjmdrlyzxqotfzevilvnkosennc