PNG SHARES IN OK TEDI RISE 10 PERCENT

admin's picture

PORT MORESBY, Papua New Guinea (October 12, 1998 - PACNEWS/Amy)---The Papua New Guinea government is increasing its equity in the giant Ok Tedi copper and gold mine by 10 percent.

Under the transfer, Broken Hill Proprietary, Limited (BHPL) will relinquish eight percent of its shares and Inment Mining Corporation of Canada will give up two percent.

The transfer will bring the government-owned Mineral Resources Development Company interest in the mine up to 30 percent.

BHPL will continue to be the major stakeholder with 52 percent. Inment will hold 18 percent.

Rate this article: 
No votes yet

Add new comment