Landowners get shares in Ok Tedi from PNG prime minister

7:03 pm on 25 May 2020

Papua New Guinea state-owned gold miner, Ok Tedi Mining Limited, has announced a dividend of just over $US56 million dollars.

Ok Tedi mine, Papua New Guinea

Ok Tedi mine, Papua New Guinea Photo: Dev Policy

Prime Minister James Marape announced the dividend while issuing share certificates to three landowner operated companies.

He gave credit to former prime minister, Peter O'Neill, for his government's decision to reopen the mine and to ensure equity is shared properly and given back to the people.

"Thank you to the landowners and people of Western Province, from the Star Mountains all the way down to the floor of the Fly River basin," he said

"I subscribe to this principle of shared equity, giving respectable equity back to people," Mr Marape said.

He said it was the proper decision to share with the people from whose land the resources were extracted as well as those bearing the greatest environmental impact and the most significant social effect.

The prime minister said the State has a 67 percent stake in the project and 33 percent is being shared by the three landowner companies.

Papua New Guinea's prime minister James Marape.

Papua New Guinea's prime minister James Marape. Photo: PNG PM Media Unit