Weathermen Capital Advisors

21/09/2023

OTML Board approves in principle mine life extension to 2050

The Board of Ok Tedi Mining Limited (OTML) has approved in principle a further mine life extension from 2033 to 2050.
This marks a significant milestone for OTML, its shareholders and for Papua New Guinea in general and is a sign of the confidence the Board has in the company's ability to deliver over the next two
decades.
The approval is based on the latest Strategic Business Plan submitted by the Executive Leadership Team and discussed during the OTML Board meeting held in Tabubil on 13th September 2003.
This extension brings to life OTML’s Vision to operate with excellence, maximising the value of the mineral resource in an environmentally friendly way, to deliver sustainable economic and social benefits to the mine communities and the people of PNG. Several factors have enabled the extension including a strengthened long-term copper price outlook, additional mine waste management solutions such as Engineered Waste Rock Dumps and a Tailings Storage Facility to minimize impact on the environment, renewal of aged processing plant assets and implementation of other strategic projects that are currently in various stages of completion.
Managing Director & Chief Executive Officer, Kedi Ilimbit, said "The approval by the Board on the eve of PNG’s 48th Independence anniversary is a welcomed gift to the communities in which we operate and who provide us the social license to continue, as well as to the people of PNG."
Mr Ilimbit further stated, "The revised mine life will see the Company generate in excess of PGK30 Billion in dividends, royalties, compensation payments, and taxes for the benefit of OTML’s shareholders, communities and Papua New Guinea as a whole over the next 27 years."
Jeffrey Innes, Chairman of the OTML Board, shared his optimism about the company's future, stating "The latest Strategic Business Plan gives the Board confidence in OTML's continued operational success.
Mr Innes added, “OTML has tripled its value in the last six years and the outlook is a positive one.
The mine life extension reaffirms OTML's commitment to sustainable growth, economic prosperity, and community well-being supported by environmental sustainability, community development and operational excellence.

06/10/2022

Would this be a business opportunity to grow your future?

‘Effectively Managing Our Fisheries and Marine Resources for Sustainable and Equitable Benefits’

08/09/2022

It's great to see BSP opening access to financial services for MSMEs. If you are an MSME owner, what financial services would add value to your business?

08/09/2022

Is any of PNGs LNG being stored waiting for price surges?

Europe's power utilities are also turning to offshore LNG storage as onshore facilities max out, Bloomberg reported, a rare move.

31/08/2022

Learn more about what inflation is and what causes it.

Why does a bag of oranges at the grocery store cost $2.50 one day, and then the next $5.00? In today's exciting video we're going to teach you something that...

27/08/2022

US Indices are tumbling on the back of remarks from US Federal Reserve Chair, Jerome Powell, that "restoring price stability will likely require maintaining a restrictive policy stance for some time,"

As the Fed continues to escalate measures to curb spiraling inflation, relief for markets is looking ever distant. Powell's comments echo previous statements and are being mirrored by global counterpart regulators.

All major indices are down by at least 3%, dropping below 4-week lows.

26/08/2022

Saudi Aramco Record Profit

While the world is gripped in the turmoil of skyrocketing inflation, recession and collapse of businesses, Saudi Aramco is living a different story. This week, Saudi Aramco posted a record profit of $48 billion for Q2. That is more than Tesla, Apple, Microsoft and Facebook (Meta) COMBINED! Amid strong oil prices, the oil and gas sector is surging ahead, but SA is on another level.

15/08/2018

https://www.investopedia.com/articles/basics/04/050704.asp?utm_source=personalized&utm_campaign=bouncex&utm_term=14123825&utm_medium=email

With all the talk surrounding foreign exchange lately, you could be forgiven for being a bit confused. Many people have contributed their opinions, but some of those in the mix may not be based on sound research. Have a read of this article from Investopedia and see for yourself the major issues surrounding how exchange rates are set.

Aside from interest rates and inflation, the exchange rate is one of the most important determinants of a country's level of economic health.

10/07/2018

27/11/2017

Simplicity is the ultimate sophistication. - Leonardo da Vinci