Ramu nickel mine injunction lifted by PNG court

According to Highlands Pacific, which owns a minority stake in the Ramu nickel and cobalt project in Papua New Guinea, a court in the country has cleared the way for start-up at the project.

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, minority owner Highlands Pacific said on Tuesday.

Australia-based Highlands Pacific said it was advised that a judgment on Tuesday in the National Court of Madang in Papua New Guinea cleared the path for the commissioning of the fully constructed $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, according to Highlands, which holds 8.56 percent of the project. Metallurgical Corp of China leads a Chinese syndicate which holds 85 percent.

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. (Reporting by James Regan; Editing by Balazs Koranyi).