Governance Initiatives

We comply with all laws and measure our performance against international standards.
Home → Who We Are → Corporate Governance → Governance Initiatives & Reporting Requirements

Legal Register and Obligation Compliance Register

OTML has developed a Legal Compliance Register to ensure accountability, proper management and compliance of legal obligations and to identify, document and periodically review changes.

The Register includes permits, licenses and reports and also captures other obligations which are relevant to OTML operations.

External Standards, Initiatives and Guidelines

OTML measures its performance against Papua New Guinean and international standards, initiatives and guidelines.

OTML uses the following standards and guidelines in the continuous improvement of its operating systems:

  • Mining (Safety) Act & Regulations;
  • Mining Act Papua New Guinea Companies Act, 1997; and
  • International Financial Reporting Standards (IFRS).
  • ISO14001:2004, the International Standard for Environmental Management Systems;
  • OHSAS 18001:2007, the International Safety Management Standard;
  • AS/NZS ISO31000:2009, Risk Management, Principles and Guidelines;
  • The IFC Performance Standards on Social and Environmental Sustainability for operating projects;
  • The GRI G4 sustainability reporting framework and guidelines;

Extractive Industries Transparency Initiative

The Extractive Industries Transparency Initiative (EITI) is a global standard that promotes transparency and accountability in the oil, gas and mining sectors.

EITI implementation has two core components being transparency (disclosure of company information about their operations, including payments to the government and the government disclose of its receipts and other relevant information on the industry), and accountability, whereby a multi-stakeholder group comprising representatives from the government, companies and civil society oversee the process and communicate the findings of the EITI reporting and promote the integration of EITI into broader transparency and accountability efforts).

OTML supplies information to the PNG EITI office and publishes its payments to all stakeholders in line with the EITI and GRI reporting requirements, through our Annual Review process.

Risk Management

OTML is focused on the identification of major hazards and risks in the workplace and from external sources that could impact the business, our stakeholders and the environment.

We use Enterprise Risk Management when evaluating economic, environmental or social aspects of mining projects and major changes to the business. Our risk management system is based on AS/NZS ISO31000:2009.

OTML maintains a consolidated register of risks and regularly monitors progress against risk mitigation action plans.

The Board reviews significant business risks and progress against agreed action plans with the assistance of established standing committees.

Operational risks are addressed by management through the annual departmental strategic and tactical planning process.

OTML continues to address the integration of risk management into each operating department’s processes and projects. Each department has a comprehensive risk register and control action plan.