The US$2.1bn world class Ramu nickel project that integrates mining, beneficiation and refining is located near Madang, on the north coast of PNG. It is one of the largest and most ambitious mining and processing projects to have been successfully brought into production in PNG. It is composed of laterite open-pit mining, 135km slurry pipeline, high pressure acid leaching, deep sea tailings placement (DSTP) as well as a number of supporting facilities. The Project produces nickel/cobalt intermediate product, in which the aggregate nickel metal accounts for 31,000 tons per year and cobalt 3,000 tons per year.
Current Joint Venture (JV) Partners of Ramu Nickel Cobalt Project
The project is an unincorporated joint venture between MCC Ramu (85%); Ramu Nickel Limited (8.56%), Mineral Resources Madang Limited (MRML 2.5%) and Mineral Resources Ramu Limited (MRRL 3.94%).
MRML and MRRL are two subsidiaries of Mineral Resource Development Company Limited (MRDC). MRML is the equity vehicle for the landowners from the SML, Pipeline, Coastal and Processing areas whilst MRRL is MRDC’s investment vehicle in the project. Although MRDC is the registered shareholder of MRML, any dividend declared by MRML will be distributed to the landowners.
Ramu Nickel Limited is a subsidiary of Cobalt 27 (formerly Highland Pacific Ltd).
Ramu NiCo Management (MCC) Limited is the manager/operator of the project, appointed by all JV parties and was fully responsible for construction and development of the Project.
