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Port Moresby
August 5, 2020
News

Madang takes ownership of Ramu Nico Projects

The Madang Provincial Government and landowners will now control most developmental projects funded bythe Ramu Nickel Mine.

That is made possible underthe review ofthe Memorandum of Agreement in Madang on Tuesday. The projects will be operated by a foundation setup to drive all development agendas in Madang.

Ramu Nickel has not been what one might say an ideal environmental and landowner friendy projects.

It’s had its share of problem sincethe China based company started mining. The company was taken to court in 2011 over whatthe landowners said was environmental damages.

Governor Jim Kas saidthe establishment ofthe foundation makes this possible.

Underthe foundation:

1. MOA projects to be funded by returns fromthe mine project;

2. All projects will be monitored & evaluated;

4. A Technical Working Committee for Mine Closure & Decommissioning Plan will be established; and

6. All business development grants, royalties and umbrella company funds will be managed amongst thers.

Mr Kas said K600, 000 would be drawn fromthe Provincial Support Improverment Program to set upthe foundation.

It will bethen registered withthe investment promotion authority andthe people will have access tothe services.

https://youtube.com/watch?v=YiuAMke6XJw%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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