PNG’s Ok Tedi Records K1.8 Billion Profit in First Half of 2025
Ok Tedi Mining Limited (OTML) has posted a profit of US$435 million (K1.8 billion) for the first half of 2025, marking a significant rise from US$174 million (K658 million) during the same period last year.
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| PNG’s Ok Tedi Records K1.8 Billion Profit in First Half of 2025 |
OTML managing director and CEO Kedi Ilimbit said gross revenue reached US$1.1 billion (K4.5 billion), doubling the US$551 million (K2.1 billion) recorded in the first half of 2024. He attributed the result to favourable metal prices and increased shipments.
Royalties paid amounted to US$20.7 million (K85 million), up from US$10.1 million (K38 million) last year. Taxes also increased to US$73.7 million (K298.1 million) compared to US$43.7 million (K164.8 million) in 2024, with rises in company income tax, salary and wages tax, production levy, and GST.
The company ended the half year with US$221 million (K905.5 million) in cash, maintaining a strong balance sheet. Ilimbit said the results demonstrated resilience and collaboration, building on the positive momentum of 2024.
He reaffirmed OTML’s commitment to creating value for stakeholders while ensuring benefits flow directly to Papua New Guinea, particularly the people of Western Province. OTML is 100 per cent PNG-owned, with 67 per cent held by the State and 33 per cent by the people of Western.
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