Ok Tedi Mining Limited (OTML) is set to officially commission its new crusher following the practical completion and handover of the K800 million Crusher Replacement Project (CRP) later this month.
“Despite a number of setbacks by the dry weather event at the start of the year and the COVID19 pandemic, the excellent effort by the Major Projects team and with support from other departments has enabled the project to be delivered safely and within budget,” said OTML Managing Director and Chief Executive Officer, Musje Werror.
He was speaking during the handover of the new crusher to the operations team yesterday as part of the commissioning phase.
Mr Werror said, “The old crusher will be decommissioned and removed by the end of the year to allow access to high grade ore on the East Wall, which will come into production in 2023.”
The CRP was identified as a strategic imperative by OTML’s Strategic Planning Committee in 2016 when reviewing the long-term plan to deliver more value to the operation and extend the mine life.
He said the work done by the strategic planning team has resulted in the net present value of the mine increasing from US$1.9 billion in 2015 to US$3.3 billion in 2020 which includes an extension of mine life from 2026 to 2029.
Mr Mark Thompson, the General Manager Major Projects responsible for the overall project management of the CRP said, “The safe construction and commissioning of the CRP within the approved budget represents a significant milestone for OTML and demonstrates what can be achieved by working as One Team Wan Pasin. This is illustrated by the fact that the CRP team recently celebrated 2 years lost time injury free and 3 million hours worked.”
Ok Tedi is a model mining company and has set the benchmark in many areas of the business, but there is more to be achieved to continue to be a successful PNG mining company.
It is an aim of the OTML Board and the management team to achieve this by extending the mine life for as long as sustainably possible and in doing so generate ongoing benefits for all stakeholders in the form of dividends, royalties, compensation, services, infrastructure, employment, training and business opportunities.