The signing of an agreement between Chinese company Ramu Nico Management Limited and PNG’s Kumul Minerals Holdings Limited creates a step forward in the Marape led government’s aspiration of down stream producing of nickel and cobalt.

PNG Prime Minister, James Marape who was accompanied by Chinese Ambassador to PNG, Zeng Fanhua, to witness the signing, said this was the transition from PNG being an exporter of raw resources to an exporter of finished products.

“I am pleased to see this vision materialize through the swift response and commitment shown by Ramu Nico Management Ltd, following instructions from the Chinese Government,” said Marape.

The signing comes after a state visit Marape made to China where he met with several heads of several Chinese businesses before a Bileteral Meeting with the Chinese President, Xi Jinping .

During his meeting with President Jinping, Marape received assurances that China takes seriously the practical needs of Pacific Island countries, affirming that “China does not make empty promises.

“I thank the Chinese Government and Chinese companies for recognising the imperative for Papua New Guinea to build a robust and diversified economy through downstream processing,” Prime Minister Marape said.

Ramu Nico Management Ltd, as the majority partner in the world-class US$1.2 billion (K4.12 billion) Ramu nickel-cobalt mine near Madang, will be at the forefront of this transformative venture.

Related: https://insidepng.com/meet-with-head-of-hong-kong-special-administration/