Category: Financial
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Ok Tedi Declares Final Dividend of K250 Million
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Ok Tedi Mining Limited (OTML) Managing Director and Chief Executive Officer, Kedi Ilimbit announced a 2024 final dividend payment of PGK250 Million that will be paid in December, bringing the total dividends paid in 2024 to K450 Million. This announcement was made last week Thursday at a dinner event hosted…
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OTML backs 2024 GEE Conference as Gold Sponsor
Ok Tedi Mining Limited (OTML) has come on board as a Gold Sponsor of the 2024 Geoscience, Exploration & Extraction (GEE) Conference and Exhibition with the presentation of K100,000 to event hosts, the Mineral Resources Authority (MRA). OTML’s General Manager Social Performance & Sustainability, Jesse Pile, presented the funding to…
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OTML Extends Special Mining Lease (SML) 1(0) to 2042
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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. This is the second SML 1 (0) lease term extension for OTML. The initial SML 1 (0) lease, granted in 1981 expired in May 2002…
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OTML generates K684 million for December 2023
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Ok Tedi Mining Limited (OTML) generated a record K684 million (USD$184 million) for the month of December in 2023, the highest recorded monthly revenue for the year. This result comes off the back of increased production and favourable metals prices, which were above budget for the month. Other factors contributing…
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Ok Tedi Declares Final Dividend Payment of PGK350 Million for 2023
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Ok Tedi Mining Limited (OTML) announced a final dividend payment of PGK350 Million to its shareholders on 28th December 2023, bringing the total dividend to K450 Million for the year. The Company had declared an initial interim dividend payment of PGK100 Million on 26th October citing a positive outlook for…
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K30 billion in benefits expected from mine life extension
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Ok Tedi Mining Limited projects over K30 billion (US$8.0 billion) in Social Benefits, which includes taxes, royalties, and dividend payments, over the next 27 years. This is based on the company’s current Strategic Business Plan which includes Life of Mine (LOM) extension to 2050, ushering in significant sustainable development for…
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Ok Tedi pays interim dividend of K100M
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Shareholders of the Ok Tedi Mining Limited (OTML) have a reason to smile today as the Company paid an interim dividend of K100M on Thursday October 26th while also citing a positive outlook for a final dividend payment for December 2023. OTML Board Chairman Jeffrey Innes said, “We are proud…
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OTML Board approves in principle mine life extension to 2050
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The Board of Ok Tedi Mining Limited (OTML) has approved in principle a further mine life extension from 2033 to 2050. 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…
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OTML creates investment opportunity for locals
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Ok Tedi Mining Limited (OTML) has successfully engaged the eight Community Mine Continuation Agreement (CMCA) regions women and children’s associations, and the Mine Villages women and children’s association, to enter into an investment partnership with two other local landowning groups. This investment opportunity involves a 50 percent stake valued at…
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Recent News
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