Further challenges for Ok Tedi

The Ok Tedi Mining Limited has announced a drastic fall in profits owing to a fall in global metal prices, mechanical failures at the plant and natural disasters affecting its operations and that of a major customer in Singapore. In 2012, OTML achieved a net profit of USD472 million, however last weekend it announced a profit for 2013 of just USD17 million. This adds to the challenges facing the government and the company who are managing ongoing disputes with PNGSDP – formerly Ok Tedi’s major shareholder before parliament legislated its takeover by the national government in 2013. OTML dividends and taxes provide a significant proportion of government revenues. It is thought that this may present a challenge for the government who, in their 2014 budget, made plans to run a sizeable deficit for a second year running and are reaching ever closer to their own limits for fiscal responsibility.

This article was written by

Frida Bani-Sam

Frida initially joined PiPP under the research internship programme. She continues to support the ongoing development of communication activities and maintaining our website. Outside of PiPP, she is deputy-chair of the board of Youth Challenge Vanuatu.

BEYOND FISH AND COCONUTS

DP03 – Are the islands heading for a free-trade paradise or are they forever lumbered with a colonial inheritance.
PATRIOT GAMES

DP21 – Around the Pacific new superpower alliances, new fault-lines and new opportunities are opening up after decades of neglect. But Pacific voices need to be heard too.
UNSURE REFUGE

DP25 – Predatory lending practices are leading some Pacific island countries toward insolvency.

Vanuatu’s 2015 Spending Priorities

At this time of year the government begins thinking about where to allocate additional money for next year. Here are some of the top spending priorities.
Snapshots from Dili

Ben Bohane shows us how things looked at the Dili Conference
IN PICTURES

In a historic presentation, West Papuan leaders representing their newly unified movement, have applied for membership of the MSG. Dan McGarry captures the ceremony in a photo essay.