Who owns ok tedi mine

Who owns ok tedi mine. But, as subsequent Ok Tedi Mining Limited (OTML) has commended the National Government for the increase in the Tax Credit Scheme (TCS) ceiling from 0. During the 1980s and 1990s, the mine dumped an estimated 80,000 tonnes of Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. . Power for the Ok Tedi operations is generated by a combination of hydroelectric and thermal power generation units, in order to meet the average and peak demand for some 63 megawatts (MW) and 70 MW respectively. Jobs: Ok Tedi Mining Limited (OTML) employs about 2,000 staff. In the case of the Ok Tedi mine, attention has focused largely on claims for downstream ecological damage and the ensuing settlement on behalf of people living along the Lower Ok Tedi. However, following extensive mining studies which resulted in the further definition of the Mt. Mr Ilimbit was originally employed […] The Board of Ok Tedi Mining Limited (OTML) has approved in principle a further mine life extension from 2033 to 2050. Kumul Minerals Holdings Limited as the majority shareholder of Ok Tedi Mining Limited (OTML) is excited to share OTML’s histories, highlights and achievements. THE OK TEDI MINE IN PAPUA NEW GUINEA Figure 2. [5] 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 (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. This follows the prolonged inability of Puma to provide consistent diesel and JETA1 supply and fulfil its contractual obligations. The Golpu deposit will employ block cave method of underground mining. The Minister’s First Secretary Mr Uve Rova, when officially launching the meeting on Tuesday March 21, on behalf of the Minister, said He said the allocation of funding came solely from the Migalsim Village Development Funds (VDF), provided by Ok Tedi Mining Limited (OTML) and managed by Ok Tedi Development Foundation (OTDF). In 2020, ten independent experts including myself, were Sep 22, 2023 · The Board of Ok Tedi Mining Limited (OTML) has approved in principle a further mine life extension of the Ok Tedi mine from 2033 to 2050 which will see the mine generate in excess K30 billion for the country. Ok Tedi Women’s Network (OWN) is a local organization that works on issues effecting the company's female employees. Apr 9, 2021 · Ok Tedi is the largest power user in the Western Province, producing its power from both hydro and thermal generation. The OK Tedi Mine is owned by Mineral Resources Development Co Ltd;Government Of Papua New Guinea, and is due to operate until 2030. 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) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. The Ok Tedi environmental disaster caused severe harm to the environment along 1,000 km (620 mi) of the Ok Tedi River and the Fly River in the Western Province of Papua New Guinea from 1984 to 2013, with the damage still ongoing. The laws cancel the PNG Sustainable Development Fund's (PNGSDP) shares in the mine, and issue new ones granting the state 100 per cent Dec 5, 2022 · The Ok Tedi Mine will generate over PGK19 Billion in dividends for the benefit of Papua New Guinea over the next 11 years, says Ok Tedi Mining Ltd (OTML) General Manager Commercial and Chief Financial Officer Cameron Clark. Sep 19, 2013 · Papua New Guinea's government has taken 100 percent ownership of the controversial Ok Tedi gold and copper mine after a lingering dispute with a development fund with controlled the majority Ok Tedi Limited. The lives of 50,000 people have been disrupted by the disaster. Ok Tedi Mining Limited was incorporated as an entity to operate the project in 1981 and was formed from a partnership between BHP (as the majority shareholder), the PNG Government, Amoco Corporation and Inmet Mining Corporation. 8 percent. Author provided Downplaying the risks. Joining the OTML Board are Ms Nellie James who serves as Chair of Kumul Minerals Holdings Limited (the parent company of KMOTL), Mr. Holding a portfolio of several exploration leases, OTML is extensively involved in the community and development of Papua […] Apr 9, 2021 · Ok Tedi operates a large-scale copper and gold mining and processing facility in the Western Province of Papua New Guinea. Jan 15, 2024 · Ok Tedi Mining Limited (OTML) has surpassed its annual sediment dredge target of 10 Million Cubic Meters (Mm3) and its rehabilitation target of 35 hectares for 2023 at its Bige Operations, located 125km from the mine. Fubilan in the Western Province of PNG. Apr 9, 2021 · The Ok Tedi mine originally planned to construct both a tailings dam and a waste rock dump to retain much of the mine derived waste during its mine life. The transfer of the Community Education Service function to the Ok Tedi Development Foundation from Ok Tedi has consolidated community development initiatives for all mine associated communities. [3] The group handles a wide range of topics, from honoring girls and women in science [4] to critical cancer awareness. Apr 9, 2021 · Ok Tedi Mining Limited business brochure - APAC Outlook - issue 49. km. Up to 240,000 t/d of overburden is mined from a pit covering about 2. In 2013 it was nationalised by the Government of Papua New Guinea in controversial action. OK Tedi Mining Limited OK TEDI NATIONAL MINE SAFETY WEEK PROGRAM REPORT April 30th – 05th May 2023 Summary OK Tedi in collaboration with its Business Partners planned and delivered the National Mine Safety Week from the 30th of April – 05th of May 2023. Oct 17, 2022 · About Ok Tedi Mining Limited For over 30 years, Ok Tedi Mining Limited has contributed to the Papua New Guinea economy through mining copper, gold and silver at Mt. Advised by an array of experts from around the world, including Marian Radetzki, we attained terms that were in many ways a model. Mine wastes were deposited along 1,000 km (620 mi) of the Ok Tedi and the Fly River below its confluence with the Ok Tedi, and over an area of 100 km 2 (39 sq mi Sep 7, 2018 · Mining at Wafi-Golpu gold-copper project. Ok Tedi Mining Limited (“OTML”) has made the strategic decision to discontinue its utilisation of Puma Energy’s diesel and JETA1 in Tabubil. Feb 8, 2024 · A woman who alleges to have been sexually harassed in the country's largest mine has come out expressing her disappointment at the way the company has handled her case. Located at the head of the Porgera Valley, The mine is situated in the rain forest covered highlands at an altitude of 2,200 to 2,700 m, in a region of high rainfall , landslides , and frequent earthquakes . In 2002 the mine was restructured, [ 9 ] and the PNG Sustainable Development Program [ 16 ] now owns the BHP share. But the future of the company, which has new shareholders, will depend on finding new reserves beyond the Ok Tedi mine's projected six-year mine life. About 1,800 are Papua New Guinea citizens and 800 live within a 40-kilometer radius of the mine. This event occurred throughout its Ok Tedi Mining Limited (OTML) Chairman Dr Roger Higgins today announced that the Company has declared a final dividend of PGK300 million which was paid on Friday 24th December to its shareholders, bringing total dividends paid by OTML this year to PGK450 million. He has spent 16 years in management roles for BHP Steel and Bluescope Steel, working in the US, Sri Lanka, Thailand, China, Papua New Guinea, and Australia. Sep 18, 2013 · "The laws passed on a vote of 62 to none": Ok Tedi Mine. Articles. Jan 2, 2015 · According to the UNHCR the flooding of the Fly River that is caused by the accumulation of mine tailings has prompted the Provincial Government, in conjunction with Ok Tedi Mining Limited, to develop the concept of growth centres located away from flood-affected areas so that the entire population of these areas can be relocated (approximately 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 Prime Minister did not state what that structure might be, nor how it would be achieved. The Board of Ok Tedi Mining Ltd (OTML) has appointed Mr Kedi Ilimbit as the Company’s Managing Director and Chief Executive Officer effective 17th April 2023. The Bige Operations dredged 10. The mine began producing gold in 1984. Nigel Parker, CEO of Ok Tedi Mining Limited, has more than 30 years experience in the resources sector. The contract has a value of A$17 million and will run for three years. Sep 22, 2023 · The Ok Tedi mine is an open-pit copper, gold and silver mine located at Mt. 3 Mm3 of river sediments and rehabilitated 40 hectares (ha) of sand stockpile in 2023. In its continuous efforts to mitigate environmental risks and impact to the environment, Ok Tedi Mining Limited (OTML) is the first Papua New Guinean Company to venture into ‘used tyres recycling’ after it commissioned its Tyre Pyrolysis Plant (TPP) in February this year. Despite making efforts to work constructively with Puma, the company’s strong-arm tactics, exemplified by […] Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. Gilbert Hamambi, titled "GRADUATE TRAINEES PRACTICAL TIPS for ACCELERATED LEARNING in RELIABILITY ENGINEERING and MAINTENANCE at OK TEDI MINE. This follows the successful restart of SAG-2 on 6th January 2021. Fubilan resource Mar 22, 2013 · CAPITAL MARKETS PNG to take over Ok Tedi. 58 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) in 2021. 1: The OK Tedi mine. In this exclusive interview with Business Advantage PNG, Musje Werror, the man chosen to lead Ok Tedi Mining, outlines his strategy. But, as subsequent events showed, not everything can be anticipated, even with the best advice. The caves will be open for staged development to optimise the capital efficiency. Fubilan in the Western Province. Fubilan in Papua New Guinea. VPC Chairman, Mr. From 2015 to 2020, Peter was Managing Director and Chief Executive Officer of Ok Tedi Mining Limited. Oct 10, 2019 · Ok Tedi (Western Province) Production: 1984 to 2025 The 100 per cent PNG-owned Ok Tedi in 2018 production of concentrate from the mine currently averages 400,000t, containing about 96,000t of copper and 280,000 ounces of gold. As a 100% Papua New Guinea-owned mining company, OK Tedi Mining Limited (OTML) is the longest-running copper, gold, and silver producer through its operation in the Star Mountains of the North Fly District in the Western Province. Show submenu for "Read" section Read. Our registered office is located in Tabubil, Western Province, PNG. Search. He has over 25 years of experience in the mining industry, mostly in Porgera. Dec 11, 2021 · Ok Tedi Mining Limited Chair Dr. Jan 7, 2013 · Ok Tedi has contributed a lot over many years but particularly now, now that the Ok Tedi mine is 100 per cent owned by Papua New Guinea, and a major part of that belongs to people of the Western The mine is located on Mt. Production: About 200,000 tons of copper and 500,000 ounces of gold a year. May 27, 2020 · Ok Tedi Mining has announced strong profits and dividends – important because it accounts for over four per cent of Papua New Guinea’s economy. Jun 29, 2022 · Villagers travelling along PNG’s Fly River which is choked by tailings from the Ok Tedi mine. Ok Tedi Mine. Bonny Ninai who serves as Sep 9, 2020 · Ok Tedi has also been able to declare a dividend to the state of Papua New Guinea, which owns 67 per cent of the mine and to the three landowner entities who own 33 per cent of the mine. The Ok Tedi mine also attracted international media interest because the practice of riverine waste disposal caused extensive environmental damage to the Fly River and ultimately led to a Jul 11, 2023 · Australian asset management and digital transformation company COSOL Ltd has signed a major contract to deliver Asset Management Services to Ok Tedi Mining Ltd, owner of one of the world’s biggest copper-and gold mines, located in Papua New Guinea. By December 2001, the mine had Oct 23, 2013 · The environmental damage caused by the Ok Tedi mine is extensive and, many scientists argue, likely to be irreversible. 1 Having originally opened for gold extraction in 1984, the operation diversified into copper production 3 years later. The initial SML 1 (0) lease, granted in 1981 expired in May 2002 and was extended for another 20 years until its expiration in Mar 24, 2023 · Mining Minister Honourable Sir Ano Pala, has given his support towards parties to the Ok Tedi Mining Project Memorandum of Agreement (MoA), who are reviewing the MoA, in Alotau Milnebay Province this week. 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). Ok Tedi Mining Limited has committed to purchasing 100 copies of a book written by our own Manager Business Improvement, Mr. Chairman of the Board, Mr Jeffrey Innes said that Mr Ilimbit was appointed following an international search campaign and a thorough assessment of candidates. Jan 22, 2024 · 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 appointment of the three directors was made by the majority shareholder, Kumul Minerals Ok Tedi Ltd, which owns 67 per cent of the company. May 18, 1994 · "We are in fact proud of our achievements at Ok Tedi", pronounced Jerry Ellis, BHP's mineral division chief, in the face of a $4 billion compensation claim lodged by local landowners in the Papua New Guinea Highlands. Joining the OTML Board are Ms Nellie James who serves as Chair of Kumul Minerals Holdings Ok Tedi Mining Limited (OTML) Chairman Sir Moi Avei KBE today announced that the Company has declared an interim dividend of PGK150 million. However, in 1984, during the construction of the foundation for the tailings dam at Ok Ma, a landslide filled the area. Roger Higgins Ok Tedi Mining Limited (OTML) recently announced the appointment of three new directors by its majority shareholder the Kumul Minerals Ok Tedi Ltd (KMOTL) which owns 67% of the Company. 66 mmtpa of ROM and primarily producing The Ok Tedi mining operations are centred on the Mt Fubilan deposit located in the Star Mountains of the Western Province. The Ok Tedi mining operations are centred on the Mt Fubilan deposit located in the Star Mountains of the Western Province. Ok Tedi Mine: Some Facts and Figures Operating Life: 1984–2010. Kwalim, thanked OTML and OTDF for the ongoing support in delivering this project. Interestingly, Ok Tedi mine was due to be closed in 2010. Sep 20, 2013 · The PNGSDP uses 15 % of the income to mitigate against additional hardship and suffering faced by the 6 Different Communities that are impacted by the Destruction of the Fly River System through the continued operation of the OK TEDI Mine. Talent management is a key part of Ok Tedi’s strategy. In making the announcement Sir Moi noted that the dividend was a direct result of the strong performance of the Company during the first seven months of the year where an after tax (and unaudited) profit of US$140 million was generated. Jun 13, 2022 · But a landslide destroyed the Ok Tedi tailings dam as it was being built in the 1980s, and BHP, the mining company, elected to dispose of the tailings in the region’s streams and rivers. This ensures Ok Tedi will continue to create local employment opportunities in the port town of Kiunga which services the mine. The incident happened mid - 2022. Despite assurances given by Ok Tedi Mining Limited to investigate and deal with the matter, it remains outstanding. In October 2016, he was appointed Independent Director and Chairman of Kumul Minerals Holdings Limited, which manages the state’s equity in PNG mining projects. OTML is a 100% nationally owned copper mining company that is located in the Western Province of Papua New Guinea and Kumul Minerals Holding Limited owns 67% share Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. We also have a representative office in Port Moresby, PNG and a logistics facility in Brisbane, Australia. This is the second SML 1 (0) lease term extension for OTML. The new TPP cost over US$30,000 and on average processes up to […] Apr 16, 2019 · PNG Sustainable Development Programme Limited (PNGSDP) owned 53 per cent equity interest in the Ok Tedi Mining Limited (OTML), a company that owns and manages the mine. Bougainville and Ok Tedi mining projects. May 7, 2010 · Inmet, the Canadian mining company that owns 18 percent of the Ok Tedi project, was so confident of this outcome that it issued a press release in late December indicating that all parties had agreed that BHP Billiton and Ok Tedi Mining had not violated their 1996 commitment to make a “good faith” effort to stop riverine tailings disposal. Ok Tedi Mining Limited in 100% PNG owned company and operates the Ok Tedi Mine, an open-pit copper, gold and silver mine at Mt. Ok Tedi Mining Limited (OTML) today announced that it has returned to normal production after the second of the two processing circuits which were damaged in a fire incident on the 20th of December 2020 was restored over the weekend. The mine, which operates as Ok Tedi Mining was formerly owned by a joint initiative between the PNG government, and Australian mining giant, BHP. Jan 24, 2023 · KMHL is the majority owner of Ok Tedi mine, the other owners are the Western provincial government and Mineral Resources Development Company (MRDC). The balance was held by the government and a Canadian company. 9 billion), the largest civil claim ever Sep 30, 2013 · SINCE Ok Tedi Mining Ltd’s (OTML) inception, it has been operating with full knowledge of the fact that the current beneficiaries are land users only and the company continues to admit that the real landowners are yet to be identified so it has been under the radar for a very long time. In addition, about 60,000 t/d of ore is mined and delivered to the mill for processing. OK Tedi Mine in Western Province (Fly), was the largest mine in Papua New Guinea, producing approximately 23. Jul 8, 2021 · It's the culmination of the state's wider reorganization of its mining and resource holdings, which calls for all mining assets to be owned by Kumul Minerals Ok Tedi Limited. He said, “this has enabled the Board to declare a dividend to the Kumul Minerals (Ok Tedi) Limited, who now owns 67% of Ok Tedi following the recent transfer of shares from the Independent State of Papua New Guinea, and the three landowner entities representing our communities and collectively owning 33% of Company”. Apr 9, 2021 · Ok Tedi has long supported local schools through the Tax Credit Scheme and has built and upgraded many new school classrooms across the Province. In 1999, BHP reported that 90 million tons of mine waste was annually discharged into the river for more than ten years and destroyed downstream villages, agriculture and fisheries. 6 sq. This achievement highlights the company’s dedication to Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. O’Neill is reported as saying ‘by 1st January 2014, if the mine life is extended, the OK Tedi mine will be managed under a new structure. Dec 10, 2014 · The life of the key Ok Tedi mine is to be extended for another 11 years, but with falling ore prices and diminishing resources, the company faces critical challenges. The stage one of the development will target the upper most portion of the ore body via two block caves. 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 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. Temu said Western and MRDC had one director each on the OTML board while KMHL had five directors. The mine is operated by Ok Tedi Mining (OTM), which is majority-owned by the PNG Sustainable Development Program Limited (PNGSDPL). Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. The Porgera Gold Mine is a large gold and silver mining operation near Porgera, Enga province, Papua New Guinea (PNG). What minerals are extracted from Ok Tedi mine? Where is the Ok Tedi mine located? The OK Tedi Mine is an open cut copper and gold operation in Papua Ok Tedi Mining Limited (OTML) operates the Ok Tedi Mine, the longest running open-pit copper, gold and silver mine in Papua New Guinea. THE Papua New Guinea government aims to take over the giant Ok Tedi copper-gold mine it part owns, with Prime Minister Peter O’Neill declaring the marriage between the government and Ok Tedi Mining Limited is over. 4% of Ok Tedi Mining Ltd, with the remainder owned by the State of Papua New Guinea. Like all major mines, however, Ok Tedi has produced a series of large-scale ripple effects throughout the surrounding region, both downstream and upstream. He resigned in October 2020. THREE new directors have been appointed to the board of Ok Tedi Mining Ltd including new chairman Dr Roger Higgins. The second largest mine with approximately 8. Ore mined from the open pit mine at an annual rate of 24 million tonnes feeds a processing facility which consists of a gyratory primary crusher, two parallel grinding modules, flotation and gravity separation and sulphur Sep 9, 2020 · Ok Tedi has also been able to declare a dividend to the state of Papua New Guinea, which owns 67 per cent of the mine and to the three landowner entities who own 33 per cent of the mine. As such, OTML owns Tabubil Hospital, which is an accredited five Ok Tedi Mining Limited (OTML) today announced the appointment of three new directors by its majority shareholder the Kumul Minerals Ok Tedi Ltd (KMOTL) which owns 67% of the Company. Those who signed the papers were NEC Secretary Grace So’on, Kumul Minerals Chairman Bonny Ninai, and Secretary Francis Lola. This marks a significant milestone for OTML, its shareholders and for Papua New Guinea in general and is a sign of the confidence the Board has in the company’s ability to deliver over the next two decades. The change, along with strengthening production from the mine, will see a significant increase in annual tax credits from current levels approximating PGK25 million […] When the Ok Tedi Mining operation ends in the Western Province around 2013, our charter is to ensure that ongoing and lasting benefits remain with the people of the Western Province and PNG as a Ok Tedi Mining Limited (“OTML’) has successfully renewed its Special Mining Lease (SML) 1 (0), gaining an additional 20-year lease term from 2022 to 2042. While the Ok Tedi mine has largely been an economic success, its envi- 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. Fubilan, in the headwaters of the Ok Tedi River, as a joint ownership between Broken Hill Proprietary Company (BHP) (52%), the Papua New Guinea state (30%) and Canadian miner Inmet (18%). May 14, 1994 · Thousands of villagers living along the Ok Tedi, a river in western Papua New Guinea, are suing BHP, Australia's biggest company, for A $4 billion ( £1. Used with permission from Ok Tedi Mining Limited. The World Bank has studied OWN as a model for treatment of women in the mining industry. 75% to 2% as announced in the 2022 National Budget. Dec 13, 2021 · Roger Higgins. The landowners filed proceedings against BHP Minerals Pty Ltd and Ok Tedi Mining Ltd in the Supreme Court in Melbourne on May 5. Mar 27, 2013 · PNGSDP owns 63. Finally, OTML currently owns 75% of Ok Tedi Development Foundation Limited, established in 2001 to manage the trust funds set up for the 152 mine-affected villages along the Ok Tedi and Fly rivers under the Community Mine Continuation Agreements. This was the ownership of OTML before the expropriation of the ownership of the mine by the PNG government. hleaj xga wtwa aesde ggrezcp pkq ckcq tsnr tity ftoxnm