Prime Minister Hon. James Marape has congratulated Ok Tedi Mining Limited on its 40th anniversary while noting that the mine – on the verge of closure only a few years ago is now operational for another 25 years.
The company held a dinner party on the evening of Thursday, 14 November 2024, in Tabubil to mark the occasion of their 40th anniversary. Although Prime Minister Marape could not attend due to his busy schedule, he was able to address company management and staff virtually from his office in Waigani, Port Moresby.
“Tonight is an important milestone. It’s a pleasure, honour and privilege to be part of this occasion. In 1984, when the mine was opened, it ran with the story of our country. It came at the backdrop of the Panguna mine that was carrying us. Four years later, when Panguna mine was shut down because of the Bougainville crisis, Ok Tedi remained became a cornerstone and an anchor of our country’s economy to today,’’ said Prime Minister Marape.
While thanking the Ok Tedi management and staff, including those from the past for a good legacy, PM Marape noted that Ok Tedi ships 250,000 to 400,000 tonnes of concentrate of copper, gold and silver annually, earning a revenue of K1 billion for the country and a profit exceeding K200 million for the company.
The Prime Minister also expressed his appreciation to Western Province leaders from all levels, landowners and the people for ensuring that the mine continued to operate.
“I want to thank Western Provincial Government, past and present leaders; landowners, and people of Western Province for their gift of Ok Tedi to Papua New Guinea, which has been a major revenue resource for PNG at the expense of their environment, including the river system, ‘’ Prime Minister Marape said.
PM Marape has highlighted that when his government came into office in 2019, Ok Tedi was on the verge of closure, but his government directed the company board and management to do a study and extend the life of the Mine.
While the company management at the time could not do it, Prime Minister Marape said he was pleased with the new management, headed by Kedi Ilimbit, for being able to extend the life of the mine to year 2050 – an additional 25 years.
He said: “This demands that the National Government through the Mineral Resources Authority will have to liaise with the landowners and the Western Provincial Government on the mine extension, and the possibility of looking at benefits-split in the extended life.
“We appreciate Western Province for their continued support of the mine. The balance of the life that is coming on must contribute better to Western Province as well as the country from the earnings we get from the mine going forward.
“We are also asking the mine to look at the tailings disposals – the possibility to utilise new technology and look at better tailings disposals so that it is friendly to river systems we have as well as to the local environment.
“Instructions have also been given out to look at other potential mine areas within the vicinity.’’
Prime Minister Marape commended Ok Tedi on reaching a special milestone in its operation and thanked the company for its contribution to the country’s progress and development.
In going forward, he urged the company to continue to look after the Western Provincial Government and the people by way of giving them projects, im- proving infrastructure and providing other basic services such as health under the company’s tax credit scheme.