Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Papua New Guinea based copper-gold miner Ok Tedi declared that it will cease operations for at least two weeks. 


According to the company’s release dated August 6, the move was made after six on-site workers tested positive for COVID-19. In order to curb the spread of the virus, the miner plans to halt production until the situation eases.


Ok Tedi is a wholly-owned state miner, which produced 99,000mt of copper in the fiscal year ended April 30, 2020. 


The company said that the 14-day closure will lead to a loss of 4,000mt in copper production and $28mn in revenue. The statement also clarified that operations will resume only once the management feels that its work environment is safe for its miners. 

Leave a Reply

Your email address will not be published.