What Ok Tedi Mining Limited does

Ok Tedi Mining Limited (OTML) is a 100% Papua New Guinea-owned mining company that operates the country's longest-running open-pit copper, gold, and silver mine at Mt. Fubilan in Western Province. The State of PNG, through Kumul Minerals Ok Tedi Ltd, owns 67% with three Western Province entities holding the remaining 33%; the company is unlisted and employs 5,001–10,000 people, 98% of whom are PNG nationals. OTML produced 103,246 tonnes of copper, 265,830 ounces of gold, and 993,274 ounces of silver in 2024, with the copper concentrate plus gold and silver by-products sold under multi-year contracts to international smelter customers, including LS-Nikko Copper Korea. Revenue is commodity-priced and reached K5.7B (US$1.5B) in 2024, a 31% increase over 2023, with K450M paid in dividends and over K13.4B contributed to PNG shareholders across 40 years of operations.

OTML's operations extend well beyond a single pit: it owns and operates crushing and processing infrastructure (recently upgraded with a USD$14.59M replacement of two 40-year-old Ball Mill Units), the Ok Menga hydro power station supplying ~75% of Tabubil and the Mill, Bige tailings and dredging operations (managing ~17M tonnes of sediment annually plus ~1M tonnes of pyrite concentrate), and dedicated logistics routes for concentrate export. The company holds a Special Mining Lease (SML) 1(0) extended to 2042 and a board-approved mine life extension to 2050, with K40B (US$8.5B) in projected revenue over the next 27 years. In May 2025 OTML acquired the Misima Gold and Silver Project from Kingston Resources (A$60M plus up to A$35M contingent), forming wholly-owned subsidiary Misima Minerals Limited and commencing Phase 1 Early Works in February 2026.

Beyond core mining, OTML functions as a vertically integrated national infrastructure operator, running Tabubil Hospital (sole operator under a three-year PNG Medical Board license, with HPV screening, mental health clinic, and dialysis), the Community Mine Continuation Agreement payments to landowners, the Infrastructure Tax Credit Scheme, and partnerships with UPNG, University of Technology, Divine Word University, James Cook University (eDNA fish study), and Sandvik (predictive maintenance RMS). It contributes annually an average of US$600M+ in foreign currency to PNG through taxes (K346M in 2024), royalties (K106M), compensation (K119M), training (K30M), and the ITCS scheme (K285M), positioning OTML as both a commodity producer and a state-aligned economic and social delivery vehicle.

Name

Ok Tedi Mining Limited

Legal name

Ok Tedi Mining Limited

Website

https://oktedi.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Ok Tedi Mining Limited (OTML) is a 100% Papua New Guinea-owned mining company operating the country's longest-running open-pit copper, gold, and silver mine at Mt. Fubilan, producing concentrates sold to international smelter customers and paying dividends to its state and Western Province shareholders.

Ownership category

akta.pro rank

Product category

Copper Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (21223), Other Metal Ore Mining (212290)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)

akta.pro secondary industry

Copper Tailings, Waste & Water Management (IMAKADAL)

Keywords

• Copper mining
• Precious metals extraction
• Open-pit mining
• Concentrate production
• Mining operations

Headquarters

HQ city

Kiunga

HQ country

Papua New Guinea

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Copper Concentrate Sales: Primary revenue stream from sale of copper concentrate produced at Mt. Fubilan mine. OTML produces over 103,000 tonnes of copper metal annually, selling to international smelter customers.
2. Gold and Silver By-product Sales: Secondary revenue from gold and silver extracted as by-products of copper mining. In 2024, produced 265,830 ounces of gold and 993,274 ounces of silver.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Ok Tedi Mining Limited operates an open-pit copper, gold, and silver mine at Mt. Fubilan in Western Province, Papua New Guinea, producing over 103,000 tonnes of copper metal and by-product gold (265,830 oz) and silver (993,274 oz) in 2024. The company processes, ships, and sells copper concentrate and precious metals to international smelter customers under long-term commodity contracts, supplemented by on-site power generation, logistics, tailings management, and community health/development services.

Product overview

Ok Tedi Mining Limited operates as a 100% Papua New Guinea-owned mining company operating the Ok Tedi Mine at Mt. Fubilan - the longest-running open-pit copper, gold, and silver mine in PNG for over 40 years. The company's Growth 2050 Strategy encompasses core mining operations (copper, gold, silver extraction), the newly acquired Misima Gold Project, power generation (including Ok Menga hydro power supplying ~75% of Tabubil's power), tailings management, logistics services, and comprehensive health services for employees and communities. The portfolio includes infrastructure support, community development programs, and environmental management initiatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper, Gold, and Silver Concentrate (Mt. Fubilan Mine) Large-scale open-pit copper, gold, and silver extraction and concentrate production at the Mt. Fubilan mine in Western Province, PNG; sold to international smelter customers under long-term commercial supply contracts.
• Ok Menga Hydro Power Supply Hydroelectric power generation and supply serving OTML's processing and mining operations at Mt. Fubilan and the Tabubil Township.
• Misima Gold and Silver Project Gold and silver project located 625 km east of Port Moresby in Milne Bay Province, acquired in May 2025 for A$60M (~US$38M) with contingent payments up to A$35M (~US$22M); under a five-year development plan comprising Detailed Feasibility and Permitting, Construction, and Production phases.
• Bige Dredging and Tailings Management Services Environmental tailings and dredging operations at Bige, 80 km downriver from Mt. Fubilan, mitigating downstream mining impacts and maintaining river capacity through the management of pyrite concentrate and neutralised sand sediments.
• Tabubil Hospital and Healthcare Services Comprehensive healthcare services for OTML employees and host communities, including Tabubil Hospital, kidney dialysis facility, mental health clinic, HPV screening and treatment program, and medical evacuation (medevac) services.
• Mining Logistics and Supply Chain Services Mine-to-port logistics operations covering transport of copper concentrate to export markets and inbound delivery of fuel, food, and supplies, including maintenance of alternative supply routes for continuity under low-river and dry-season conditions.

Quantifiable outcome

• 103,246 tonnes copper produced in 2024, surpassing targets
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Ningerum High SchoolminorStrategic or Co-development Partner · 30 April 2026K759,613.03 project for major refurbishment of three deteriorating dormitories and ablution blocks. Accommodation for 700+ students from remote communities.
• Kingston Resources LimitedcoreStrategic or Co-development Partner · 20 May 2025Ok Tedi acquired the Misima Gold and Silver Project from Kingston Resources for A$60M (~US$38M) with further contingent payments up to A$35M (~US$22M). Project located 625km east of Port Moresby.
• Mineral Resources Authority (MRA)coreStrategic or Co-development Partner · 1 May 2024Gold sponsorship of K100,000 for 2024 Geoscience, Exploration & Extraction (GEE) Conference. OTML supports initiatives fostering growth in geoscience and mineral extraction fields.
• Migalsim Community and Landowner CompaniescoreStrategic or Co-development Partner · 14 September 2023Collaborative project to establish Migalsim Clinic and Staff House. OTML funded K380,000 total (K180,000 OTML, K100,000 MRSM, K100,000 Milum Group).
• PNG Civil and Identity RegistryminorStrategic or Co-development Partner · 1 July 2018MoU signed July 2018 for NID registration roll-out in Western Province. Ok Tedi contributed K3 million supporting approximately 53,000 registrations since July 2018.
• SandvikcoreTechnology or IntegrationSandvik operates Customer Support Centre in Lae and site-based operations at Porgera, deploying over 40 equipment units for Ok Tedi mining operations including component repair, parts warehousing, and predictive maintenance through Remote Monitoring Service.
• James Cook UniversityminorStrategic or Co-development PartnerCollaboration on eDNA (environmental DNA) study to monitor and track fish species in Ok Tedi and Fly River systems. First of its kind study in PNG.
• University of Papua New Guinea (UPNG)coreStrategic or Co-development PartnerMultiple partnerships including: donation of K550,000 for computer laboratory upgrade (28 desktops, 7 laptops, UPS); donation of three geological specimen boards; support for HD Virtual Anatomy tables (K400,000+); geoscience student industrial training program.
• PNG University of TechnologycoreStrategic or Co-development PartnerPartnership for undergraduate scholarship program (K189,401.27 in 2025 tuition/lodging fees). Students studying engineering disciplines with pathway to Graduate Development Program.
• Divine Word UniversityminorStrategic or Co-development PartnerPartnership for undergraduate scholarship program with K76,380 paid in 2025 for students studying Accounting and Environmental Health.
• International Copper Association Australia (ICAA)minorStrategic or Co-development PartnerICAA Board visit to Ok Tedi operations to understand mining and processing. ICAA represents global copper industry interests.
• Laloki Psychiatric HospitalminorStrategic or Co-development PartnerMoU in development for mental health referral pathways and expert assistance. OTML opened Mental Health Clinic at Tabubil Hospital requiring referral support.
• Tabubil HospitalcoreStrategic or Co-development PartnerOTML now sole operator of Tabubil Hospital under owner-operator model. Three-year license granted by PNG Medical Board. Programs include HPV screening, dialysis facility, mental health clinic.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Freeport-McMoRan: One of the world's largest publicly traded copper, gold and silver miners, operating large-scale open-pit operations globally (e.g., Grasberg in Indonesia). Highly comparable in product mix and scale to OTML's Mt. Fubilan operation.
• MMG Limited: Global mid-tier copper and zinc miner with major open-pit operations including Las Bambas (Peru). Mark Stone (OTML Board Chairman) previously held executive roles at MMG, indicating familiarity with operating model and asset profile.
• First Quantum Minerals: Major copper-focused miner with operations in Zambia, Panama (Cobre Panamá) and other jurisdictions. Highly comparable business model as a copper-centric producer — Mark Stone also held prior executive roles at First Quantum.
• Antofagasta PLC: One of the largest independent copper producers globally, with operations in Chile. Directly comparable as a long-life, large-scale open-pit copper producer with by-product credits (gold, molybdenum).
• Southern Copper Corporation: Diversified base metals producer (copper, molybdenum, zinc, silver) with large-scale open-pit and underground operations in Peru and Mexico. Closely comparable product mix including silver by-product.
• BHP Group (BHP Billiton): Original operator of the Ok Tedi mine in 1984 and one of the world's largest diversified miners with significant copper exposure (Escondida, Olympic Dam, Spence). Several OTML management executives including Kedi Ilimbit and Mark Stone previously worked at BHP.
• KGHM Polska Miedź: Polish state-controlled copper and silver producer with comparable product mix (copper + silver) and integrated mining-to-concentrate operating model. Similar sovereign-ownership structure to OTML's 100% PNG-owned status.

Direct peers

• PT Freeport Indonesia / PT Mineral Industri Indonesia: Operates the Grasberg copper-gold mine in Papua, Indonesia — geographically and geologically adjacent to PNG. Closest direct analogue for high-altitude open-pit copper-gold-silver mining in the Melanesian region.

Emerging players

• Newmont Corporation: World's largest gold miner with significant copper by-product exposure (e.g., Tanami, Cadia, Boddington in Australia — geographically near PNG). Comparable open-pit gold-copper mining model with by-product credits and long mine lives.
• Harmony Gold Mining Company: Major gold producer with growing exposure to copper through assets such as the Wafi-Golpu project in PNG. Directly relevant given both PNG operational overlap and copper-gold by-product profile aligned with OTML's Misima expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@OkTediMiningLimited2024
• Xx.com/tediltd

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ok Tedi Mining Limited