China pushes MCC to improve Ramu mine performance

Ramu NiCo Management urged to be technically competent

Post Courier 

CHINA Metallurgical Group Cooperation (MCC-Group), the financer in the Ramu NiCo Project and the major shareholder is pushing Ramu NiCo Management (MCC) Ltd to be technically competent and problem solving oriented during the Project ramp-up period so it achieves 83% design capacity this year as expected.

Ramu NiCo chairman, Zong Shaoxing conveyed MCC-Group’s requirement during the Ramu NiCo 2015 Annual Work Report Conference held via video conferencing involving Beijing, Madang Base, Basamuk Refinery and KBK Mine on Monday attended by line management team.

He said in the operation performance appraisal signed with MCC-group, three special appraisal indexes were added to ensure Ramu NiCo delivers the project soon while being technically competent.

“One of them is the completion rate of technical rectifications. Through this appraisal index we can see that MCC hopes Ramu NiCo should be problem-solving-oriented to solve the shortcoming of process and equipment to eliminate the gap which may influence nameplate capacity achievement,”

“So in 2015, technical rectifications will be the main task for us, and we shall be strict with performance appraisal in this field,” Mr Zong said.

He highlighted that MCC-Group in its annual meeting also mentioned a lot on the expectation of the development of Ramu NiCo project and urged to see the only nickel and cobalt project in PNG escapes from the current difficult situation and makes profit soon. MCC-Group made its commitment to support Ramu Project delivers soon.

“Currently as the core project in MCC resources working scope, Ramu NiCo undertakes the historic mission to promote the four core business lines and eight essential work scopes,”

“We have to fully understand that we are facing a small profit and economic downturn. The main challenge is the severe competition. The main task is to reach nameplate capacity and eliminate deficit,” Mr. Zong said.

He identified the shortcoming of the Project including lack of funds, technical manpower and weak management basis.

“However, we must be realistic, take the responsibility, overcome difficulties to be the best, strongest and largest enterprise and increase competitiveness in the market,”

“Only we do this, can we survive and develop and can we be MCC’s overseas demonstration project, can we bring benefit to our shareholders and stakeholders,” Mr. Zong said.

He strongly challenged the Company management to tighten its management skills to be profit oriented while the Project is leading up to achieving 83% capacity this year.

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Filed under Financial returns, Papua New Guinea

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