Ok Tedi Mining Limited (OTML) is on track to generate US$1.5 billion (K5.8 billion) in revenue for 2024.
This is a significant increase from 2023 (31%), 2022 (45%) and 2021 (98%).
Managing Director & Chief Executive Officer, Kedi Ilimbit, announced the record revenue at the 2024 PNG Chamber of Resource & Energy Investment Week Conference in Sydney, Australia.
“This result is a testament to the hard work of our employees. Without them, we would not have achieved the success we see here today.”
“What is even more special is that we have a 98 percent national workforce that has delivered this result for us,” said Mr Ilimbit.
OTML intends to become a US$2 billion revenue company within the next five years. This outcome is dependent on the successful implementation of OTML’s Growth 2050 Strategy.
This include;
- Ok Tedi Energy by 2025;
- New Joint Venture arrangements with OTML and expansion of Ok Tedi Power by 2028; and the
- Ok Tedi Underground Joint Venture arrangement by 2030.
“Whilst we are a nationally owned company, we want to drive our growth and expansion through international best practices and benchmark ourselves against the world industry standards,” said Mr Ilimbit.
“Ok Tedi is a great company, and the future looks promising for us and our shareholders.”