Mineral Resources Star Mountains Ltd
Overview of OK Tedi Mining
Ok Tedi is located in the Star Mountains of Western Province, approximately 18 kilometers east of the border with the Indonesian province of West Papua.
OK Tedi Mining Ltd (OTML), incorporated on 27 February 1981, is the developer and operator of the project. BHP exited the company in 2002, vesting its interest to Papua New Guinea Sustainable Development Program (PNGSDP) and almost a decade later OTML became a fully owned Papua New Guinea company when Inmet Mining shares were bought off by OTML.
In 2013 OTML became a state owned enterprise (SOE) when the Government of PNG increased its direct ownership to 87.8 percent.
Since operations began 24 years ago, OTML has transformed a remote ore body into a world class international business which continues to contribute significantly to Papua New Guinea.
Mineral Resources Star Mountain Ltd (MRSM)
Mineral Resources Star Mountains Limited (MRSM) was incorporated under the PNG Companies Act in 2001 to hold the landowners 9% direct equity interest in OTML, in trust for the benefit for the ten Ok Tedi landowning villages.
MRSM is administered by Mineral Resources Development Company (MRDC) through a management agreement.
MRDC is a company wholly-owned by the state, and was the nominee to acquire the state’s equity interests in mining and petroleum projects in PNG, until changes in legislation transferred state asset ownership to other equity and royalty interests in mining and petroleum projects in Papua New Guinea.
