HIG 0.00% 10.5¢ highlands pacific limited

Hitting the straps early.

  1. 309 Posts.
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    Hitting the straps early, pity about the price. Bodes well for when the price of Ni improves
    "THE Ramu nickel and cobalt project in Madang has achieved its designed nameplate capacity beginning this year, but with great operational loss incurred.
    The company said the down-turn in world commodity price has had a huge financial impact on the project operation.
    But the company is working hard to increase its production output to expand and secure any market share with the hope of improved commodity price rise in the near future.
    “The company is working hard for more output not only for its obligation to stakeholders and communities but also to expand the product marketing share for any price rise in the future,” a company statement said.
    Stakeholders in the Ramu Nickel project recently commended the mine developer for the huge strides it had taken to achieve positive production output in the first quarter of this year. Mineral Resources Development Company general manager, external affairs and sustainable development programmes Imbi Tagune, said it was good to note that despite the down-turn in world commodity price, the company was still able to achieve good production output.
    Mineral Resources Authority project coordinator for Ramu NiCo project, Carter Oiee, agreed that despite the low metal price, Ramu NiCo was still able to maintain its work force.
    Oiee said Ramu NiCo was the only mining project which had not laid off any employee during these tough economic times.
    Four landowner association chairmen from the project impacted areas of Kurumbukari, Basamuk, inland pipeline and coastal pipeline also commended the company on its production achievement."
 
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Currently unlisted public company.

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