By: PNG Business News August 07, 2023

Manager Processing Operations, Hillary Turnamur, and Managing Director and Chief Executive Officer, Kedi Ilimbit explain to MMC and Maribu Corporation delegates the Processing operation.

Ok Tedi Mining Limited (OTML) hosted esteemed representatives from Mitsubishi Materials Corporation (MMC), one of its leading customers of copper concentrate from Japan last week.

Among the distinguished visitors were General Manager – Raw Materials Department, Mr. Hiroyuki Tsukamoto; Deputy General Manager – Raw Materials Department, Mr. Masahide Iwataki; Manager – Raw Materials Department, Mr. Kotaro Hirokawa.

Accompanying the MMC team were Marubeni Corporation personnel, who represent MMC as their Buyer’s Agent, with General Manager – Non Ferrous Ores Section, Non-Ferrous Metals and Ore Trading Department, Mr. Yoichiro Suga, from Tokyo, and Port Moresby Representative, Mr. Ryuichi Ueno.

MMC, the largest of the Japanese smelter companies in terms of concentrate demand, currently operates two smelters in Japan at Onahama and Naoshima, plus one in Indonesia where they hold a 60.5% ownership interest in the Gresik smelter.

MMC's visit to OTML holds significant importance as it signals their deep-rooted interest in forging a continued business relationship. The delegation's exploration of OTML's innovative waste management strategy, specifically riverine disposal, highlights MMC's commitment to aligning their operations with the principles of Environmental Social Governance (ESG) and shareholder expectations.

During the visit, the MMC representatives were provided with an exclusive tour of OTML's mine and processing operations. Furthermore, they gained valuable insights into the Bige dredging operation and Kiunga operations, witnessing first-hand the company's commitment to sustainable practices.

They also learnt of the amazing work carried out by the Ok Tedi Development Foundation in the Mine and Community Mine Continuation Agreement (CMCA) communities.

A key highlight of the engagement was OTML's presentation on the company's outlook over the next few years. The strategic vision and growth plans of OTML resonated deeply with the MMC executives, further solidifying their desire to continue the fruitful partnership.

Expressing his enthusiasm on behalf of MMC, Mr. Hiroyuki Tsukamoto reiterated their commitment to sustain the business collaboration with OTML well beyond 2026.

OTML Managing Director & CEO, Mr. Kedi Ilimbit, assured the delegation that OTML is also committed to solidifying their partnership with MMC and expanding on opportunities into the future.

Japan has been, and continues to be, the largest market for the purchase of OTML’s copper concentrate. Currently 60% of its copper concentrate is purchased by five Japanese smelter companies.

OTML’s relationship with Japanese smelters extends back to the commencement of copper production in 1987, with the first shipment of OTML copper concentrate to Japan leaving Port Moresby on 21st August 1987. And this month marks 36 years of continuous sales and shipments into Japan.

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