February 7, 2016

PNG's OK Tedi Mine to resume operations in March

 OK Tedi Mining Limited will resume  progressive operations next month, according to chief executive officer Peter Graham.  
He said in a statement it was subject to the statutory safety approval of the Mineral Resources Authority. 
“We are excited to be returning to work but must now ensure we do so safely and that we capture the efficiency improvements introduced during the temporary suspension of operations,” he said.
“While the recent heavy rain events have been encouraging and allowed the re-stocking of critical materials and supplies, the latest forecast is for El Nino conditions to peak in February   before declining to neutral conditions in May-June 2016.
“Hydro-power availability and river access for shipping are both expected to be sufficient to sustain operations.” During the temporary suspension of operations, employees completed a number of important projects at the mine, mill and the Ok Menga hydro-power station which would enhance operational reliability and remove major planned maintenance shutdowns in 2016 and 2017.
Chairman Sir Moi Avei said: “While the temporary suspension of operations created difficulties for OTML’s many stakeholders, we have made good use of the opportunity presented by the outage to reposition OTML as a stronger, more competitive and resilient company for the long haul.” 
OTML suspended operations last August due to dry weather conditions which impacted hydro-power and restricted transport of supplies and copper concentrate on the Fly River.

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