The US$1.5 billion Ramu Nickel project is set to go ahead in 2012.
Highlands Pacific Projects General Manager Peter Jolly recently told the audience at the 2011 Paydirt Australian Nickel Conference in Perth last october that HP’s stake in the project would rise to 20.55% once various debt agreements were satisfied.
Highlands Pacific has an 8.56% stake in the Ramu Nickel mine, which was owned by Metallurgical Corp of China.
The project has an estimated resource of 143 million tonnes at 1.01% nickel and 0.1% cobalt.
There has been a high profile court case between locals and the mine management due to plans to dump 100 million tonnes of waste 400m off-shore over its 20-year operation.
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