Papua New Guinea

Ok Tedi (Mt. Fubilan) Mine

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Categories

Overview

Mine TypeOpen Pit
StatusActive
Commodities
  • Copper
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
Mine Life... Lock
SnapshotThe Ok Tedi (Mt. Fubilan) is the longest running open-pit copper, gold and silver mine in Papua New Guinea.

Owners

SourceSource
CompanyInterestOwnership
Ok Tedi Mining Ltd. 100 % Direct
Ok Tedi Mining Limited (OTML, or the Company) is proudly a 100% owned Papua New Guinea (PNG).

Structure for OTML at 31 December 2021: Kumul Minerals Ok Tedi Ltd (State of PNG) holding 67% and Western Province entities 33%.

Deposit type

  • Skarn
  • Porphyry
  • Breccia pipe / Stockwork

Summary:

The Ok Tedi mining operations are centred on the Mt Fubilan deposit located in the Star Mountains of the Western Province.

Mt Fubilan is a rich coppergold-silver deposit with several phases of mineralisation centred on two intrusions, known as the Fubilan monzonite porphyry, located in the northern half or Centre Pit area and the Sydney monzodiorite stockworks with subsequent alteration in the south. Majority of the ore is found in the sulphide skarns, located adjacent to the intrusions along the contacts with the limestone and siltstone units.

In 2022, OTML exploration concentrated on near mine targets within SML1 (New York Breccia, Wellington, Gilor 10 and Komgubip) as well as reconnaissance drilling on EL 2156 at Mt Frew and Mt Kwang.

OTML continues its resource definition drilling within the Fubilan mine area and on advanced prospects within SML1 to replace mined reserves and improve resource confidence.

Within SML1, exploration activities focused on completing the drill program on the New York Breccia, drill testing the Gilor Breccia, a program of resource drilling at Wellington, and drilling at the Komgubip prospect East of Wellington.

A total of 29 holes were completed on SML1 for an aggregate of 13,513 metres (m).

NEW YORK BRECCIA
The resource drilling program at New York was completed by the end of Q1 2022. The revised resource estimate for the New York Breccia was completed by AMC consultants. The results are below our strategic benchmarks for a feasible prospect for now, but it still has the potential for more resource drilling in the future.

WELLINGTON
A program of resource definition drilling commenced targeting the Wellington Skarn. A total of 20 holes were completed by the end of the year and drilling will continue into 2023. A new resource estimate is expected to be completed by the end of Q4 2023 for incorporation into the Life of Mine Plan.

GILOR BRECCIA
Three holes were drilled to test the Gilor 10 Breccia target. No significant mineralisation was intersected and no additional work is considered warranted in this area.

KOMGUBIP
Three holes were drilled at the Komgibip Prospect located about 1 km East of Wellington. All holes intersected gold mineralisation with the best result of 47.4 m at 1.84 g/t gold from 258.3 m in SCK 121 and 8.2 m at 6.24 g/t gold from 289.8 m in SCK 125. A program of stepout drilling to extend the strike extent of this structure is planned for late 2023.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnits20222021202020192018201720162015
Copper Metal in concentrate kt  ....  Subscribe  ....  Subscribe  ....  Subscribe99961058045
Copper Concentrate kt  ....  Subscribe  ....  Subscribe  ....  Subscribe412394437320186
Gold Metal in concentrate koz  ....  Subscribe  ....  Subscribe  ....  Subscribe306280271218142

Operational metrics

Metrics20222021202020192018201720162015
Daily ore mining rate  ....  Subscribe
Daily waste mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe24 Mt23 Mt24 Mt24 Mt
Total tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe105.7 Mt89.5 Mt84.6 Mt58.1 Mt42.6 Mt
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe18.7 Mt18.9 Mt20.1 Mt16.1 Mt11.8 Mt
Stripping / waste ratio  ....  Subscribe  ....  Subscribe  ....  Subscribe2.46
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe16.8 Mt

Production Costs

CommodityUnits201920182017
C1 cash costs Copper USD 0.49 / lb   1.22 / lb   0.93 / lb  

Operating Costs

Currency201920182017
OP mining costs ($/t mined) USD 2.62  2.49  1.97  

Financials

Units202220212020201920182017
Capital expenditures M PGK  ....  Subscribe  ....  Subscribe  ....  Subscribe 886   668   174  
Sustaining costs M PGK 556  
Revenue M  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,122  USD 845  USD 996  USD
Operating Income M  ....  Subscribe  ....  Subscribe  ....  Subscribe 312  USD 188  USD 378  USD
Pre-tax Income M  ....  Subscribe  ....  Subscribe  ....  Subscribe 313  USD 200  USD 378  USD
After-tax Income M  ....  Subscribe  ....  Subscribe  ....  Subscribe 222  USD 141  USD 266  USD
Operating Cash Flow M  ....  Subscribe  ....  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 16, 2023
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....................... Subscription required ....................... Subscription required Subscription required Sep 16, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 16, 2023

Total WorkforceYear
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Aerial view:

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