Ramu nickel mine still to achieve full output and deliver tangible benefits

mcc

MCC vice president Wang Baowen meets local supporters

RamuNico thanks LOs for support

Post Courier | December 28, 2016

PREVAILING low world prices on nickel, cost reduction and production issues were matters that the developers of the Ramu mine in Madang had to contend with in 2017. The environment would have been made even tougher, had it not been for the support of the landowners of the four impact areas of the country’s lone nickel and cobalt mine. This was acknowledged and the landowners thanked, at a Christmas party its Community Affairs Department hosted for them in Madang last Wednesday.

In attendance was the miner’s vice president Wang Baowen.

“Despite these financial deficits, we have overcome most of the technical problems with improved management system, and today our product output has improved with low operational costs.

“We hope that the nickel price improves soon, so we can earn some profits and deliver to our project partners.

“Social security, including landowners’ expectations on employment and business opportunities are major challenges as well. This happens everywhere and our project is no exception. We fully understand the expectation of our landowners,” Mr Baowen said.

Peter Tai, chairman of Maigari who spoke on behalf of his three colleagues Tobby Bare (Kurumbukari Mine), Sama Melambo(Basamuk Refinery) and  Jeffrey Kinang (Coastal Pipeline), thanked the company for its support and continued operation in-spite of the economic challenges. Mr Tai, while vowing their continued support, had also cited some outstanding issues and urged both the government and the developer to ensure a resolve.

Chairman of RamuNiCo umbrella company, Raibus Limited, Steven Saud representing all project landowner companies acknowledged that 2016 has been a tough year for RamuNiCo and landowner businesses due to the global economic situation affecting all PNG companies. He thanked the company for not quitting.

General manager of Community Affairs, Martin Paining said RamuNiCo project is unique in PNG and urged the landowners to support it until the economic climate is healthy so all parties can benefit.

“So we have a situation and environment to understand each other well and work for common benefit,” Mr Paining said.

Meanwhile, the vice president said:

“RamuNiCo management endeavours to bring the project operation to successful production design capacity of 100 per cent soon and deliver tangible benefits to all our partners including you all here today.”

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Filed under Financial returns, Papua New Guinea

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