Category: Financial
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OTML replaces two Ball Mill Units to bolster its processing operations
Ok Tedi Mining Limited (OTML) recently replaced two of its 40-year-old Ball Mill Units at a cost of USD$14.59 million. The new Ball Mill units will bolster OTML’s processing operations and production output and generate revenue for our shareholders. The project was led by the Processing Maintenance Department with the…
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OTML to generate K40 Billion over next 26 years.
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Ok Tedi Mining Limited is expected to generate K40 Billion in social benefits, taxes, royalties and dividends to its shareholders over the next 26 years. Managing Director & Chief Executive Officer, Kedi Ilimbit, revealed this today during his presentation at the 2024 PNG Chamber of Resource & Energy Investment Week…
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OTML to generate US$1.5 billion revenue
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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…
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Government delegation joins OTML 40th anniversary celebrations
Ok Tedi Mining Limited (OTML) and the residents of Tabubil welcomed a distinguished delegation of government representatives on Thursday, 14th November, to celebrate OTML’s 40th anniversary dinner. Among the prominent attendees were Minister for State-Owned Enterprises William Duma; Minister for Coffee William Bando; Minister for Highways and Works Solan Mirisim;…
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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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