Major joint mining project testifies to milestone in China, Papua New Guinea cooperation

Chinese Vice Premier Li Keqiang delivers a speech during a  celebration ceremony of the Ramu nickel project by China  Metallurgical Group Corp., in Port Moresby, Papua New Guinea,  Nov. 4, 2009. Chinese Vice Premier Li Keqiang and Papua New  Guinean Deputy Prime Minister Puka Temu attended the celebration  ceremony here on Wednesday. (Xinhua/Liu Jiansheng)

The project is mainly owned by China's MCC-JJJ Mining development company, while Australian investors, the Papua New Guinea government and local landowners also have a stake in the joint venture. It was expected to be in operation earlier next year.

Li said at the ceremony that Ramu Nico was a landmark project between China and Papua New Guinea. He said that the fact that the project has been successfully implemented and has made crucial progress was proof that there is much potential for bilateral cooperation between the two countries.

Li praised the Chinese operating company, MCC Ramu Nico Limited, for carrying out a sustainable development concept and for emphasizing corporate social responsibility, which he believes has created a good environment for the project and signified the friendship between the two countries.

Nickel is a strategically scarce resource in China. After the Ramu Nico project comes into operation, it will help balance the supply-demand relationship of nickel, both in China and on world markets.

For Papua New Guinea, the project was expected to contribute to a more than 10 percent growth in its gross domestic product (GDP).Local residents will also benefit substantially from the project because of the much-need investment and jobs it will bring.

Li said the mutually beneficial cooperation between the two countries will bear meaningful fruit.

The vice premier also thanked the Chinese workers involved in the project for their work with their Papua New Guinean colleagues to turn the Ramu Nico project into a model of bilateral cooperation.

Papua New Guinea Deputy Prime Minister Puka Temu also attended the ceremony and expressed thanks to the Chinese government and companies for meeting a tight construction schedule despite the adverse impact of the global financial crisis.