The Ok Tedi Mining Limited (OTML) has secured a two-year licence extension to advance the Misima Mine project in Milne Bay Province.
The company said today in a media statement that the licence (Exploration Licence EL 1747) covers the Misima Deposit in Milne Bay Province and is held by Ok Tedi’s wholly owned subsidiary, Misima Minerals Limited. Related news: https://www.thenational.com.pg/ok-tedi-acquires-misima-gold-and-silver-project/
This approval marks an important milestone for the Misima Project and for Ok Tedi, following its acquisition earlier this year.
The statement reads the licence extension completes the final regulatory requirement and allows Ok Tedi to begin its planned exploration, development, and community engagement activities. Related news: https://www.thepngsun.com/pm-marape-a-new-sustainable-chapter-for-ok-tedi-western/
As a Papua New Guinea–owned company, Ok Tedi’s involvement in the Misima Deposit is a major achievement.
It shows that local companies can successfully lead resource development, create jobs, boost economic growth, and contribute to the country’s sustainable development.
The licence represents a key step in unlocking the project’s potential and supporting responsible, sustainable mining in Papua New Guinea.
Managing Director and Chief Executive Officer Kedi Ilimbit said: “We are delighted to have received the licence extension from the government, which allows us to move forward with our plans for Misima. This achievement reflects Ok Tedi’s strong commitment to responsible resource development and sustainable engagement with local communities.”
Mr. Ilimbit also reaffirmed that Ok Tedi will continue to work closely with the government, landowners, and local communities to ensure that all exploration and development activities are carried out safely, sustainably, and in line with best practices.