Ramu Nickel Mine Restarts in Papua New Guinea

Reuters reported that a Papua New Guinea-based nickel and cobalt mine operated by China’s Ramu NiCo Management (MCC) Ltd. resumed production following an attack by armed villagers three days ago.

As quoted in the publication:

The $2.1 billion mine, forecast to produce 22,000 tonnes of nickel in 2014, is operated by Ramu NiCo, which is majority owned and run by Metallurgical Corporation of China Ltd (MCC). Equipment including nine excavators, a fuel truck and a lighting vehicle were burned and five Chinese workers were injured in the attack on Monday, the embassy said, confirming earlier media reports.

An executive at a large Chinese trading firm that imports nickel regularly told Reuters:

Given the size of the Ramu mine is not very big, we don’t think the shutdown would have a large impact in the international market right now.

Click here to read the full Reuters article.

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Equitas Resources (TSXV:EQT; FSE:T6UN) is one of the first junior resource companies in the last 20 years to hold such a large, consolidated land package in the Voisey’s Bay district. With a first-class, experienced team of professionals skilled in raising capital and managing successful exploration projects Equitas Resources has a tight share structure on early stage of nickel focused exploration. Learn more about this world class deposit.

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