PNG Ok Tedi Mine Secured Until 2084, PM Marape Confirms

 PNG Ok Tedi Mine Secured Until 2084, PM Marape Confirms/Photo by OTML

PNG’s longest-running mine, Ok Tedi, will now operate for another 50 years, extending its lifespan through to 2084 and locking in its role as a cornerstone of the national economy.

Prime Minister James Marape confirmed the extension in a statement today, saying the decision ensures that one of Papua New Guinea’s most important resource assets will continue supporting the country well into the future.

The Prime Minister said the mine’s future had once looked uncertain, with advice received in 2019 indicating operations were expected to end in 2028.

Mr Marape said he rejected that assessment and instructed that further work be done to determine whether Ok Tedi could continue beyond the originally projected closure date.

He credited the turnaround to strong leadership within Ok Tedi Mining Limited, singling out Managing Director Kedi Ilimbit for driving technical and operational work to extend the mine’s life.

The announcement builds on a 20-year extension of Ok Tedi’s Special Mining Lease granted in 2024, along with board approval to operate through to 2050.

OTML has projected that over the next 26 years alone, the mine will generate around K40 billion in social benefits, taxes, royalties and dividends for its shareholders.

“This is a defining moment for our mining industry. When I took office, I was told Ok Tedi would close in 2028. I did not accept that. Today, the mine has confirmed it will operate until 2084,” Mr Marape said.