OTML Chairman Sir Moi Avei KBE retires

By: PNG Business News August 31, 2021

Ok Tedi Mining Limited (OTML) today announced the retirement of its Chairman Sir Moi Avei KBE who has successfully led Ok Tedi for more than six and a half years.

OTML Managing Director & CEO Mr Musje Werror acknowledged the significant contribution made by Sir Moi during his tenure saying that “under Sir Moi’s leadership the value of the OTML business has nearly tripled while mine life has been extended by 6 years to 2032. The outlook for the Company is very positive with over K20 billion expected to be generated over this period”.

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 year.”

In announcing his retirement Sir Moi said, “I wish to thank the shareholders for the support provided to me as Chairman and the faith shown in me and my Board.”

In addition to thanking director’s past and present Sir Moi acknowledged MD & CEO Mr Musje Werror, and his predecessor Mr Peter Graham, for their valued contributions leading OTML during his tenure, and thanked the workforce and local community for their efforts and support.

Mr Werror said that “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”.

An announcement on a new Chairman will be made in due course once internal processes are completed.

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