What is the problem with Ok Tedi mine?
The massive amount of mine-derived waste dumped into the river exceeded its carrying capacity. This dumping resulted in the river bed being raised by 10 m, causing a relatively deep and slow river to become shallower and develop rapids, thereby disrupting indigenous transportation routes.
What minerals are mined in Ok Tedi?
The Ok Tedi mine is an open-cut copper, gold and silver mine located at Mt. Fubilan in the Western Province of Papua New Guinea. Approximately 240 thousand tonnes of overburden (waste rock) is mined each day from a pit covering about 2.6 square kilometres.
What mining method is used in Ok Tedi?
Ok Tedi Mining Ltd….Address:
| Stage | Production |
|---|---|
| Commodities | Copper Gold Silver |
| Mining Method | Truck & Shovel / Loader |
| Processing | Gravity separation Centrifugal concentrator Flotation |
| Mine Life | 2029 |
Why did BHP exit Ok Tedi mine?
Essentially, BHP wanted to shut down the mine, which had caused great environmental damage and become a reputational risk to the company. BHP did not want to gift its shares in Ok Tedi to the PNG Government because of well-established concerns about corruption and limited capacity within the PNG public sector.
Why can’t the PNG government close the Ok Tedi mine for environmental reasons?
Initially, the Ok Tedi mine did not benefit from immunity regarding its environmental practices. By request of the government, the mine was only to operate if a tailings dam was built to filter out much of the waste dumped in the river.
Why was the Ok Tedi mine opened?
BHP opened the Ok Tedi copper gold mine in 1982. During construction Ok Tedi’s tailings dam failed. The company made the fateful decision to put all its waste directly into the creeks that run into the Ok Tedi and Fly Rivers.
Who owns Lihir goldmine?
Newcrest Mining
The gold mine was managed by a subsidiary of Rio Tinto until late 2005, and the operatorship was then handed over to Lihir Gold. Australian miner Newcrest Mining acquired Lihir Gold in a $9bn deal in 2010.
Who owns the Ok Tedi mine now?
Ownership. OTML is a 100 percent Papua New Guinea (PNG) owned entity with 67 percent direct shareholding by the Independent State of PNG and the people of Western Province holding a 33 percent interest. 100% of the benefits from its operations are distributed to the people of Western Province and the State.
When was Bougainville copper mine first opened?
1972
History. The mine at Panguna was opened in 1972 and was majority-owned by Rio Tinto. The mine was vitally important to the economy of Papua New Guinea. The PNG national government received a 20% share of profit from the mine, of which the Bougainvilleans received 5% – 1.25% share of the total profit.
What did BHP do with its 52% shareholding in Ok Tedi?
BHP Billiton today completed its withdrawal from the Ok Tedi copper mine in Papua New Guinea with the transfer of its 52 per cent equity stake to PNG Sustainable Development Program Limited (Program Company), a development fund that will operate for the benefit of the Papua New Guinean people.
Who owns the largest gold mine in Papua New Guinea?
Barrick Gold Corporation and Zijin Mining Group each own 50% of Barrick (Niugini) Ltd. Porgera Gold Mine is the second largest mine in Papua New Guinea and is regarded as one of the world’s top ten producing gold mines….Porgera Gold Mine.
| Location | |
|---|---|
| Financial year | 2009 |
| History | |
| Opened | 1990 |
| Owner |
What is the world’s most gold rich island?
The mine is operated by Newcrest Mining Limited. The mine holds one of the world’s largest gold resources (46 million ounces)….Lihir Island.
| Native name: Niolam | |
|---|---|
| Width | 14.6 km (9.07 mi) |
| Highest elevation | 700 m (2300 ft) |
| Administration | |
| Papua New Guinea |