Ramu NiCo records high production in final quarter

Ramu Nickel/Cobalt project in Madang has recorded high production rates in the final quarter of last year, demonstrating that the production system has now gone into a stage of high-load and stable production.

High production was achieved despite numerous challenges, including financial, technical, and managerial and the April 12, 2016 incident at Basamuk Refinery, affecting the achievement of planned design capacity annual target and production capacity for 2016.

President of Ramu NiCo Management (MCC) Ltd, Gao Yongxue, announced this last Tuesday (January 24), during the Company 2017 Annual Work Conference.

“The metal nickel output in October, November and December (2016) reached respectively 2,645ton, 2,764ton and 2,711ton, a record high production rate of 98.7 percent, 100 percent and 101.2 percent design capacity,” Gao said.

“Slurry deliveries from KBK Mine and High Pressure Acid Leaching ore throughput at Basamuk Refinery have both exceeded 10,000 ton (dry base) per day, much higher than the design.”

The President said technical parameters at both KBK Mine and Basamuk Refinery have improved steadily, with the nickel and recovery rate at KBK Mine improved throughout last year.

Despite the historical annual production achievement, the continuous depreciation of world nickel price and huge financial constraints faced by the Company, including the April 2016 fatality, saw Ramu NiCo suffer huge financial loss in 2016.

Gao also announced other major achievements in 2016, including the permanent mine operational permit granted by the government. He set out the work plan for this year, including continuous improvement in work perimeters to maintain and improve production capacity and Company commitments under the Project MoA.

Ramu NiCo Chairman, Zong Shaoxing, conveyed MCC-Group’s key spirit from Beijing and congratulated all employees and management team for working hard to achieve 100 percent design capacity towards end of last year.

The firm’s success was attributed to the tireless efforts and dedication from Company executives, employees from all sites and with support from stakeholders.

(Ramu NiCo employees in Madang in a video conference during the 2017 Annual Work Conference)

Press release