Reuters reported that a court in Papua New Guinea has cleared the way for a start up of the majority Chinese owned Ramu nickel and cobalt project, which has faced 18 months of delays over environmental concerns.
Highlands Pacific said that it was advised that a judgment in the National Court of Madang in Papua New Guinea cleared the path for the commissioning of the fully constructed USD 1.5 billion Ramu Nickel Project A work order restriction issued by Papua New Guinea's Chief Inspector of Mines in early June has also been removed.
Metallurgical Corporation of China leads a Chinese syndicate which holds 85%. The rest of the project is held by the Papua New Guinea government.
Ramu is expected to yield 31,150 tonnes a year of nickel and 3,300 a year of cobalt for at least 20 years following a roughly six month commissioning period.
(Sourced from www.reuters.com)
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