Ramu NiCo announces project expansion

Business

RAMU NiCo Management (MCC) has announced further expansion of the project with an investment of over US$1.5 billion (K5bil) which will create more jobs.
The company said in a statement that the expansion was expected to increase production and reduce operation costs.
“Feasibility studies of the expansion project have already been completed, which is covering new areas in the Kurumbukari Plateau in Usino-Bundi district in Madang,” it said.
“The product matrix in the expansion still remains the same as nickel/cobalt hydroxide (MHP).”
Community affairs manager Albert Tobe said the project expansion report submission would be made to Mineral Resources Authority, Conservation and Environment Protection Authority (Cepa) and the Chinese Embassy following compilation of various approval procedures.
The scheduling of the signing of the memorandum of agreement for project expansion is expected to be done in November during the Apec leaders’ summit.
It is anticipated that the two State leaders from Papua New Guinea and China will also be witnessing.
Ramu NiCo vice-president Wang Baowen said at a meeting that expansion was expected to support cash flow within the project area and create local business spinoffs for locals. It is expected to improve the living condition for people who relate to the Ramu project via direct and indirect benefits.
The meeting was attended by stakeholders in the Ramu NiCo Project, including Government representatives from MRA, Treasury, National Apprentice and Trade Testing Board, Madang provincial administration, landowner associations and women representatives.
Landowner chairmen from the four impacted areas and their executives and women representatives also attended.