• PNG Business News

Ok Tedi generated K21bil since ops began



OK Tedi Mining Ltd (OTML) has generated more than K21 billion for the people of Western and PNG since it started production in Aug 1984, according to its chief executive.

In that time, it has produced five million tonnes of copper, 15 million ounces of gold and 33 million ounces of silver, OTML managing director and CEO Peter Graham said.

Speaking at the company’s 35th anniversary celebrations on Sunday, Graham mentioned the statistics while congratulating everyone who had been an integral part of its operation.

“Last year, we celebrated 50 years since the resource was discovered at Mt Fubilan. This year, it’s 35 years since we started production,” he said.

“That says something about how strong and resilient we are to keep on operating through 35 years and that was through some difficult times like the earthquakes, landslips and dry weather.

“Ok Tedi, on the world stage is a significant player.

“It is recognised around the world as a significant mining operation.”

Graham acknowledged the company’s strongest and longest stakeholders which were the customers, staff, contract partners, local community from the mine area and the river communities.

He spoke about the recent visit by representatives of Ok Tedi’s smelter customers who visited the operations two weeks ago.

“In the past week or so, we’ve had visitors in town from our smelter customers in Japan, Korea and the Philippines,” he said.

“They’ve been our customers for 35 years and they came here to reinforce the relationship that Ok Tedi has with them.

“That is unique anywhere in the world.

“I would suggest, for a mining operation to have retained the same customers for 35 years, it speaks volumes about the nature and integrity of Ok Tedi. Today, we are a globally competitive producer and we are very proud of that.

“That is a result of our workforce efforts and our contract partners who work with us to make ourselves competitive as any other mine in the world.”

The anniversary was celebrated with a parade and float and a marching competition, followed by a song competition, speeches, traditional singsing groups and a live band performance by the Gedix and Malahiffz bands from Madang.

The indoor stadium was open to arts and crafts sellers, who came with a range of items from hand-made jewellery, paintings, pottery to carvings, baskets and bilums.

Also on display was a media board showcasing the historical timeline of OTML from 1963 and looking beyond 2025.

Posted up on display boards were images capturing the development and growth of the company’s operations, people and community over the years since discovery of Mt Fubilan in 1963, where the Ok Tedi mine sits today.


Source: https://www.thenational.com.pg/ok-tedi-generated-k21bil-since-ops-began/

PNG Business News

2nd Floor, Suite 6,

Corinthian Plaza Building,

Paseo De Roxas, Legaspi Village,

Makati, Philippines

Phone: +632 251 5599

Subscribe to Our Newsletter

  • White Facebook Icon

© PNG Business News