RAMUNICO is adopting stringent measures to improve its production while reducing deficit in the second-half of this year, the company said in a recent newsletter.
The newsletters said the company was reacting to the slowdown in global economy and decline in nickel metal prices.
In the half-year work conference for this year, RamuNiCo chairman Zhao Shimin stressed that many international mining companies had to close down, layoff or downsize their operations in response to the poor global economy.
He said some mining industries in PNG had taken that path.
“We have to say that we are not born at the perfect timing, since in the first year of operation, we have to confront such severe difficulties and challenges both internally and externally,” Zhao said.
However, he was confident RamuNiCo would reverse the company’s difficult situation.
He said with determination and dedication from all staff and management, the company would reduce deficit in the second-half while improving production.
He assured the employees and stakeholders that with the support from MCC Group in terms of technology and capital, RamuNico would see in the second-half some improvements in production to reach this year’s output target of 50%.