PNG's OK Tedi Mining ltd to Pay K300 million dividend to Shareholders

 OTML TO PAY K300 MILLION DIVIDEND TO SHAREHOLDERS 

Papua New Guinea's Ok Tedi Mining Limited (OTML) has announced a dividend of K300 Million which will be paid to its shareholders, on or before the 31st of December 2022. 

OTML Chairman, Dr Roger Higgins thanked employees, contract partners and mine impacted communities, for their support throughout 2022.

He added that though 2022 was a challenging year, which saw the Company transition to higher grade ore sources, and they were faced with the additional costs, associated with a sharp escalation in oil price, they are pleased to report that Ok Tedi remains profitable, and continues to deliver for its shareholders.

Dr Higgins also said that they now look forward to copper grade improving by more than 20 percent in 2023, as the transition continues, and a further extension of the mine life from 2032 to 2033.

This he said follows the latest Strategic Business Plan recently approved by the OTML Board, which gives rise to growing optimism.

He also said that the Company also continues to investigate further mine life extension scenarios.

NBC News / PNG Today

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