Over K300million of dividend was finally paid out by Ok Tedi Mining Limited (OTML) to its shareholders recently to close of another year of business for the mining company. OTML said it paid out a final dividend payment of K350million to its shareholders on 28th December 2023, bringing the total dividend to K450million for the year. The Company had declared an initial interim dividend payment of K100million on 26th October citing a positive outlook for a final dividend payment in December 2023. OTML Board Chairman, Jeffrey Innes, thanked employees, contract partners and the mine impacted communities for their support throughout 2023. He said that 2023 was a restore and reset year for OTML marked by the appointment and restructure of a new senior leadership team. Mr. Innes said the need for this change in leadership was to bring forth a comprehensive overhaul of restoring, resetting, and reinvigorating the entire business while focusing strategic emphasis on business improvement, cost efficiencies and liquidity, stakeholder engagement, long-term planning and implementation of Tax Credit Projects aligned with the National Government Development Strategy 2050. With the OTML Board approval of the Mine Life Extension up to 2050, Mr. Innes said the Company envisions sustainable growth up to 2050, with a particular focus on energy transition. Mr. Innes said Key strategic Growth 2050 projects are in place and progressing well based on the Company’s current Strategic Business Plan and is expected to generate K30billion in cash flow. “The El Nino onset also affected the OTML operations for a while in November; however, the Company has implemented its Dry Weather Management Plan to see it through the challenges and is pleased to declare that Ok Tedi remains profitable and continues to deliver to our shareholders,” said the Chairman.