Ok Tedi Mining Ltd. (Ok Tedi) congratulates the Ok Tedi Landowners Royalty Investment Trust (OTLRIT) and the Milum Group of Companies on the launch of Milum Aviation Ltd. and the successful acquisition of three Dash 8 aircraft that currently operate Ok Tedi’s charter service.
The OTLRIT, which represents the 12 Mine Villages, acquired the aircraft at a cost of approximately AUD10.1 million (USD6.46 million) from a Singapore-based company that had owned them for the past 35 years. They are now 100 per cent owned by OTLRIT and will operate under the banner of Milum Aviation.
Ok Tedi Managing Director and Chief Executive Officer Kedi Ilimbit said, “This is a proud moment for our landowners.
“The acquisition marks a significant milestone in our journey to empower landowner companies to become profitable and sustainable enterprises.
“This investment is part of our broader vision to support landowner companies in securing Tier 1 contracts,” Mr Ilimbit added. “We want to see our landowners involved in major business areas such as mining fleet leasing, warehousing, aircraft charter, drilling, and even contract mining in the future.”
The Dash 8 aircraft will continue to be leased to Ok Tedi to support its fly-in, fly-out charter service, which transports workers to and from operational sites.
To commemorate this achievement, the three Dash 8 aircraft will be renamed in honour of prominent people who played a vital role in realising the creation of Milum Aviation:
- Ilimbit Dream – named after Kedi Ilimbit, Ok Tedi managing director and CEO
- Asekim Pride – named after Henry Asekim, chairman of OTLRIT
- DeSouza Spirit – named after Aubrey DeSouza, CEO of the Milum Group of Companies
In addition to the Dash 8 aircraft, OTLRIT and Milum have also acquired two Q400 Series Dash 8 aircraft from Qantas, Australia. These will be added to their fleet in October this year. One aircraft will service domestic routes, while the other will operate international flights to Cairns and Brisbane. The purchase price was not disclosed, but aircraft of this type typically range between AUD30 million and AUD35 million (USD19–22 million) each. Aircraft management, servicing and maintenance will continue to be handled by Pacific Direct Ltd.
The three aircraft, affectionately known as the pride of Tabubil over the past three decades, will soon be rebranded under Milum Aviation.
Ok Tedi continues to explore opportunities for landowner companies to take on more core and non-core business operations, with several initiatives currently under discussion.
In 2023, Ok Tedi outsourced its highway logistics operation to the Milum Group of Companies.
