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Article

27 Sep 2001

Author:
Lesley Wroughton, Reuters

Inmet says Ok Tedi copper investment preserved [Papua New Guinea]

Inmet Mining Corp., an 18 percent stakeholder in the Ok Tedi copper-gold mine in Papua New Guinea, said yesterday it was pleased with an in-principle deal that would allow the project's operator BHP Billiton to exit the environmentally challenged mine. The government of Papua New Guinea said overnight that BHP's 52 percent stake will be put into an arm's length trust which would hold the interest on behalf of the Western Province and the nation.