HIGHLANDS Pacific expects the Chinese built $US1.5 billion Ramu nickel cobalt mine in Papua New Guinea to make its first export shipment in mid-November.
Basamuk refinery shot taken in March. Image courtesy of Highlands Pacific.
The wet nickel laterite mine is in its 32nd week of commissioning but is not expected to hit full production of 31,150 tonnes per annum of nickel and 3300tpa cobalt until mid-2013.
Covered in its recent quarterly report, Highlands said the first shipment of a mixed nickel cobalt hydroxide intermediate product would contain about 200t nickel and 20t cobalt.
This is a small portion of the 2655t nickel and 251t cobalt contained ore produced by the end of September, with most of it destined for China.
Failed legal challenges against the deep sea tailing placement aspect of the mine delayed production by years, while nickel laterite processing is also widely recognised for its complexities.
Located 75km west of the provincial capital of Madang, the Ramu operation is 85%-owned by China Metallurgical Construction Company.
Highlands owns 8.56% and through its joint venture has an option to increase its stake to 11.3% once the project development debt is paid off.
Other stakeholders are state-owned Mineral Resources Ramu (3.94%) and landowner company Mineral Resources Madang (2.5%).
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