OK Tedi Mining Ltd is plans to keep mining until 2022 instead of the planned shut down in 2014
This is because of the discovery of another ore-body within the mine area that could extend the mine life by another seven years.
The mine life extension depends on State approval.
Mineral Resources Authority’s Acting Managing Director Kepas Wali said the mine extension application would go through the normal process of the MLE.
He said the company had completed a feasibility study on the mine continuation plan.
He said Ok Tedi mine was one the major contributors to the government revenue stream and was significant contributor to national economic development.
Wali expressed his thoughts that the company has not gone into greenfield exploration and discoveries in other parts of the country despites its long presence in the Papua New Guinea mineral industry.
OTML has recently entered a joint venture with exploration company Frontier to explore the Min area and also West New Britain Province.
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