ABOUT US$350 million (K1 billion) will be committed to the Ramu Nickel mine project for full construction to take place this year, thus ensuring mine commissioning next year.
Joint-venture partner Highlands Pacific announced yesterday in a statement that US$350 million has been committed to a number of construction projects that will ensure the mine and process plant are commissioned as scheduled in 2009.
“The pre-construction expenditures at the end of last year amounted to nearly US$200 million (K587 million),” the statement said.
The project known as Kurumbukari mine is expected to be commissioned on the first half of next year, while the the Basamuk process plant commissioning would take place later in the year.
The projects that the Ramu Nickel joint-venture is aiming to complete this year include:
lThe permanent Ramu River road bridge;
lThe Basamuk wharf that would allow project components and freight to be unloaded right at the project site;
lCompletion of 50% of the pipeline;
lThe installation of the first autoclaves and;
lThe beneficiation plant.
Ramu Nickel Mine will produce about 31,150 tonnes of nickel and 3,300 tonnes of cobalt yearly when it reaches full production capacity, with a mine life of over 20 years.
Highlands Pacific currently holds 8.5% stake in Ramu while and manager and mine developer, China’s state-owned Metallurgical Construction Co, holds 85%. The remaining interests are held by other groups.