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OK Tedi Mine paid K147mil to Papua New Guinea Government : Tuke

Staff Reporter | 12:39 AM |
THE OK Tedi Mining Limited paid a dividend of US$47 million (K147.55 million) to the PNG government last year.
The information was revealed during a visit to the mine in Western last week by Mining Minister Johnson Tuke.
Since it began operations in 1984, OK Tedi had extracted 4.65 million tonnes of copper, 30.2 million ounces of silver and 14.3 million ounces of gold.
OK Tedi was the first mine visited by Tuke as it was 100 per cent PNG-owned.
It encompasses operations from Mt Fubilan to Tabubil town and weaving down the OK Tedi River tributary to the Bige dredging and land reclamation and regeneration operations. It reaches Kiunga where cargoes are loaded onto ships for international markets.
Last year, the mining company contributed 3.3 per cent to the national Gross Domestic Product and an after tax profit of US$121 million (K338 million).
The company also maintained ongoing economic commitment towards environmental outcomes through its environmental programmes by spending US$54 million (K184 million).
The workforce structure comprises 97 per cent Papua New Guineans and three per cent were expatriate employees.
Other sites and businesses visited by the ministerial team included the Yuk Creek mini hydro plant, the mine and mill, Tabubil Hospital, Bige OTML operations, Kiunga OTML operations, Cassowary Hotel, OK Tedi Development Foundaiton office and its Eaglewood programme. The National