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April 20, 2021

Ok Tedi Resumes Normal Production

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Ok Tedi Mining Limited has returned to normal production after the two processing circuits that were damaged in a fire incident on the 20th of December 2020 were fully restored.

SAG-2 was restored on 6th January 2021 while SAG-1 was restored over the weekend.

OTML Managing Director and CEO, Musje Werror commended the efforts of the OTML team, who worked tirelessly for almost 6 weeks to restore the circuit (SAG-1) safely without any incident.

“The commitment shown by our workforce, particularly over the festive season, was testament to the One Team Wan Pasin spirit at Ok Tedi,” Werror said.

“Returning the first of the two circuits to operation was a key milestone as it allowed the Company to recommence production and meet our January shipments.

Damages to SAG-1 were more severe and required two new switching equipment. The new equipment was flown to Tabubil from Brisbane, Australia last week.

Mr Werror added that the financial impact of the incident was about US$100million as previously reported.

He said the Company maintains a strong balance sheet for the purposes of protecting it against such incidents.

He cited the shutdown associated with the COVID-19 pandemic in 2020 and an earthquake which occurred in 2018 as two such examples.

We have demonstrated previously that the Company is able to remain profitable and healthy despite such challenges, and we expect to do so again in 2021,” Werror said.

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