Article: PAPUA NEW GUINEA: JOINT VENTURE CONSTRUCTION START-UP ON PLANNED $790,000,000 NICKEL/COBALT MINE DEVELOPMENT PROJECT IS TENTATIVELY SCHEDULED TO BEGIN SOME TIME AROUND THE SECOND HALF OF THE YEAR 1999, HIGHLANDS PACIFIC LTD. [PAPUA NEW GUINEA] & NORD PACIFIC [USA] - Order #: 0115999.

PROJECT OVERVIEW: An Papua New Guinean/American joint venture was recently provided with favourable project feasibility reports regarding the planned development of its Ramu nickel/cobalt mine in Papua New Guinea (PNG). According to the results of the studies the mine would reportedly be among the lowest-cost nickel producers in the world. The partners in the planned development project include PNG-based HIGHLANDS PACIFIC LTD. and NORD PACIFIC of the U.S., a subsidiary of NORD RESOURCES CORP.. According to the terms of the collaborative agreement HIGHLANDS will hold a 65% interest in the venture as well as manage the project and, NORD PACIFIC will pick-up the balance of ...

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