The Ok Tedi Mining Limited (OTML) has declared a K450 million interim dividend for the first half of 2026, while maintaining uninterrupted mining and processing operations despite prolonged dry weather affecting Fly River water levels.
Ok Tedi Mining Limited (Ok Tedi) Board has declared an interim dividend of K450 million for the half-year 2026, Managing Director and Chief Executive Officer Kedi Ilimbit has announced in a statement released yesterday.
This was paid to its shareholders according to their shareholding-K300 million to Kumul Minerals Holdings Limited for the State (60%) and K150 million to the Mineral Resources Development Company, which manages the landowner interests.
“The K450 million interim dividend benefits all Ok Tedi shareholders. While K300 million is payable to the State, K150 million is equally payable through MRDC on behalf of the people of Western Province. It is important that the full dividend distribution is accurately reflected.”
Mr. Ilimbit said the interim dividend demonstrates the Company’s ongoing contribution to PNG’s economy and the direct benefits generated for both the State and Western Province through their respective shareholdings.
Commenting on the company’s operations, Mr. Ilimbit said while prolonged dry weather has resulted in lower-than-normal water levels on the Fly River, Ok Tedi’s operations continue and business remains as usual, adding that mining and processing activities remain uninterrupted, with the Company implementing contingency measures to maintain the supply of fuel, consumables, equipment and other critical operational requirements.
Ok Tedi has actively implemented alternative logistics arrangements to ensure continuity of operations and minimize disruption to the business. The Company continues to closely monitor river conditions and adapt its logistics planning as required.
Mr. Ilimbit said Ok Tedi remains focused on maintaining safe, responsible and sustainable operations while managing challenges associated with the dry weather conditions.
Related news: https://www.thepngsun.com/ok-tedi-mine-keeps-operations-running-despite-dry-season/
“While the dry weather is presenting logistical challenges, our teams have implemented contingency measures to ensure operational continuity.”
“Mining and processing operations continue, and our focus remains on maintaining safe and reliable operations while delivering value to our shareholders, communities and the country.”
Ok Tedi will continue to provide updates on operational matters as required and remains committed to transparent engagement with shareholders, stakeholders and communities.