After it was first lodged in 2021, Ok Tedi (OTML) has had its Special Mining Lease (SML) extension granted by the PNG Government.
The initial SML granted in 1981 expired in May 2002 and was extended for another 20 years until its expiration in 2022.
An application to renew the SML and associated leases was lodged with the PNG Mineral Resources Authority on December 20 2021, resulting in the current extension grant.
A total of 22 leases for mining purposes and two for mining easement are tied to the SML. There are also 24 ancillary leases hosts supporting infrastructure.
OTML managing director and chief executive officer Kedi Ilimbit, thanked all stakeholders involved in the extension.
Ilimbit cited OTML’s gratitude and excitement in continuing to explore opportunities for sustainable resource development in the region while also providing social and economic benefits to its impact communities and the country.
“OTML remains committed to fulfilling our environmental, legal, and social obligations, maintaining positive relationships with the communities impacted by our operations, and securing the social license to operate, which is vital for our ongoing success,” he said.
The company is also carrying out a suite of ‘awareness sessions’ throughout its host communities in preparation for its Community Mine Continuation Agreement (CMCA) extension review.
The review has now commenced and is expected to be completed in October 2025 with the signing of the agreement to continue mine operations.
OTML said it is actively pursuing strategic growth projects aligned with its current strategic business plan, which is anticipated to generate K30 billion ($11.9 billion) in social benefits over the next 27 years.
“We remain focused on driving value for our stakeholders while contributing to the sustainable development of our communities and the broader economy,” the company said.
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