Operator of Ramu Nickel Mine to invest over K3.6 Billion    

Ramu NiCo Management [MCC] country manager Assik Tommy Tomscoll said US$1 Billion [K3.6 Billion] will be invested in phase two of the project.   

“We signed an agreement with Kumul Minerals on 8th January, 2024, and in early April we started a study to be completed by December, after reading the study report we will announce our next decision or step towards industrial downstream processing.

“We are focused on smelting, we want to smelt and refine nickel onshore in PNG, cobalt, copper, and any other metal base minerals.

“We have not worked out our participation in the shareholding but that is something we will discuss with Kumul Minerals and the Government.

 “Apart from that Ramu NiCo has met the obligations under the MoA [expired in 2018], we are ready for the review [when] all other stakeholders are ready,” Mr Tomscoll said.

He highlighted some of the challenges the mine operator continues to face.

“Firstly, the geography the mine operates [and] the second challenge we faced when we started was nickel and cobalt was at a very low grade.

“All we did was to innovate new technologies which we have rights to and we have intellect and property rights too and we have to do that for us to enhance the efficiency of the recovery of the mineral ores and today we have the most efficient operation [in the world],” Mr Tomscoll said.