Ramu leak puts mine at risk
A leak at the Ramu mine’s processing plant has led to threats of closure by the PNG government. Ramu, owned by Metallurgical Corporation of China (MCC) and in which Cobalt 27 Capital/Nickel 28 Capital (TSXV:KBLT) has a minority share, produced 35.4Kt of nickel and 3.3Kt of cobalt in 2018. The plant produces mixed hydroxide product which is sent to China for processing into battery cathodes. Following a mistake by a plant operator, who did not notice a pump failure during a maintenance shutdown, a tank overflowed and over 200,000 litres of waste leaked into the sea. An MCC source denied...