In his address to the delegates, Zeng Fanhua, the Chinese Ambassador to PNG, emphasized the significant role played by Ramu NiCo, a prominent Chinese investment local company. He highlighted Ramu NiCo’s extensive expertise in capital investment, project construction, and international operations within the multi-metal mining sector.
Furthermore, Zeng Fanhua pointed out that Ramu NiCo’s parent company, China Minmetals Corporation, boasts a robust presence across the entire mining industry chain. In 2023, the corporation achieved an impressive revenue of US$130 billion, securing the 65th position in the Fortune Global 500 rankings.
Additionally, the ambassador noted Ramu NiCo’s successful track record of operating projects in Papua New Guinea for over a decade. He underscored that Ramu NiCo’s endeavors represent the largest nickel-cobalt mining investment project by a Chinese enterprise overseas and the most substantial Chinese investment in the South Pacific region.
Over the past decade, Ramu NiCo has cultivated stronger connections with local communities, facilitating the creation of thousands of job opportunities and contributing to local economic development. This effort has provided stability in employment and income for the region,” stated Mr. Fanhua.
He emphasized that Ramu NiCo is a significant project in China-Papua New Guinea cooperation, exemplifying mutual collaboration within the Belt and Road Initiative framework.
Mr. Fanhua further highlighted China’s willingness to assist Papua New Guinea in establishing and nurturing a domestic downstream processing industry through mutually beneficial cooperation.
In the joint statement China and Papua New Guinea issued, both nations expressed their commitment to enhancing pragmatic cooperation, particularly in developing energy and mineral resources.
“We are not just making empty promises but taking concrete actions. The Memorandum of Understanding signed between Ramu NiCo and Kumul Mineral Holdings is a tangible outcome that reflects the shared vision of the leaders of both countries.”
The two companies have outlined their commitment to collaborative research, exchanging valuable information and data, and exploring opportunities for joint development within the downstream metal processing industry, making the most of the rich mineral resources available in the country.
Emphasizing the significance of fully leveraging Ramu NiCo’s integrated strengths in investment, construction, and operation, this partnership forms a strong foundation for practical cooperation.
It is the hope that Ramu NiCo will use this opportunity to showcase China’s robust capabilities within the mining industry and deepen its collaboration with Kumul Mineral Holdings, ultimately achieving mutual success.
With sincere wishes for more fruitful outcomes between China and PNG, extending beyond the Ramu Nico Phase II project to encompass other nickel mining projects, this collaboration aims to enhance economic and trade exchanges, fostering the prosperous development of both our nations
The Government is diligently working to implement our downstream policies, and the recent signing signifies China’s involvement in these initiatives. It also reflects the Marape Administration’s dedication to achieving economic independence for the country.
During his recent trip to China, the Prime Minister focused on this collaboration as one of his key agendas. During his overseas travels, he has consistently advocated for Papua New Guinea’s transition into an export-driven economy. Following the signing, the MoU corporation study will commence soon, with further updates as we progress toward exporting finished products derived from our raw materials.