As the Ok Tedi gold and copper mine nears the end of its current mine life, the Ok Tedi Development Foundation has launched a five-year plan to create economic self-reliance for the people of Western Province. Kevin McQuillan reports.
Ok Tedi Mining Ltd (OTML)
The State of Papua New Guinea has lost its attempt in the Singapore High Court to wrest control of the remaining assets of PNG Sustainable Development Program Ltd (PNGSDP), worth US$1.4 billion (K4.72 billion).
Adrian Mathias reports on efforts to shine the spotlight on the Hindenburg Wall, one of Papua New Guinea’s hidden natural attractions.
With only 10 years of estimated current mine life, Ok Tedi Mining is working hard to optimise production and maximise profit at Papua New Guinea’s largest copper mine, says CEO Peter Graham.
Board and senior management changes at PanAust, a new Managing Director at the Mineral Resources Authority, a new Tax Partner at KPMG, Ok Tedi’s first female Mine Manager and judicial appointments for the National and Supreme Courts.
Government to seek more revenue from fishing, three provinces to be granted autonomous status and the Government claims the right to acquire land for the Highlands Highway construction work. Your weekly digest of the latest business news.
The Chief Executive of copper and gold producer Ok Tedi Mining, Peter Graham, believes the Papua New Guinean company will enjoy a ‘sweet spot’ in the next few years. He says efficiency gains have substantially improved the mine’s competitiveness.
Oil Search acknowledges problems with payouts, Frabelle denies shut down and the ICCC starts legal proceedings against Steamships. Your weekly digest of the latest business news.
To remain impartial, the Papua New Guinea Government should not be a shareholder, but only maintain regulatory oversight of mining projects, according to geologist and mining consultant, Jerry Nombri Garry. He tells Business Advantage PNG, there are other ways for the country to derive healthy revenues from mining projects.
Last month’s earthquake in Papua New Guinea will have a ‘huge impact’ on the economy, says Prime Minister Peter O’Neill. The death toll is rising, the extent of the destruction and disruption to services and businesses is still being assessed, and the damage to the PNG LNG project is expected to affect government revenues.