Metallurgical of China : Wang Yongguang Meets Newly Appointed Chinese Ambassador to Papua New Guinea Xue Bing

　　In the afternoon of April 6th, MCC Group Party Standing Committee Member and Vice President Wang Yongguang met newly appointed Chinese Ambassador to Papua New Guinea Xue Bing and his delegation at the MCC Mansion, where both parties held cordial talks.

　　Wang Yongguang warmly welcomes Ambassador Xue Bing and his delegation, and expressed his heartfelt thanks to him for visiting MCC personally to learn about the company's investment and engineering contracting projects in Papua New Guinea before taking up his post. The Ni-Co Ore Project of Ramu NiCo, a subsidiary of MCC, is the largest investment project of a Chinese enterprise in Papua New Guinea, and a project of great importance to China's nickel metal resource guarantee and the development of political, economic and trading relations between China and Papua New Guinea. Wang Yongguang first introduced the historical circumstances and progress of the Ni-Co Ore Project of Ramu NiCo. All Chinese and foreign employees of the Ramu Project have made arduous efforts to enable it to reach its target output in the fourth quarter of 2016, over-fulfilling the production target of February 2017 with an excess production rate per month reaching 8%. Compared with international projects of the same kind, the Ramu Project has the lowest unit investment, the quickest speed of reaching its target output and the lowest cash cost. With very strong periodicity in the nonferrous industry including nickel, the Ramu Project has been incurring losses under the current condition of the price of nickel being low. However, full of confidence in the future development of the Ramu Project, MCC is now researching and formulating schemes involving horizontal overproduction and vertically-extended industry chains to improve the comprehensive utilization of valuable metals, create new profit points and drive the Ramu Project to turn its losses into gains. In the business field of project contracting, MCC's subsidiary enterprises are sparing no efforts to promote investment and job development in the Northern Papua New Guinea Industrial Park and Port Moresby Industrial Park, and the Emerald City Real Estate Project generally contracted by MCC International Engineering Group Co., Ltd. will commence and go into construction next month. In addition, Wang Yongguang hopes to promote the MalaiHighway Reconstruction Project which has such great importance for the transportation of raw materials, goods and products for Ramu Project, as well as the Papua New Guinea Mining Industry Talent Training Project, thereby making substantial progress under the guidance and assistance of Ambassador Xue Bing and the Embassy of the People's Republic of China in Papua New Guinea within this year.

　　Ambassador Xue Bing thanked Wang Yongguang for his warm reception and fully affirmed the contributions that MCC has made to the stable development of political, economic and trading relations between China and Papua New Guinea. It was not easy for MCC to successfully invest and construct Ramu's Ni-Co Ore Project and quickly reach the target output in such a backward, difficult and complex environment as that of Papua New Guinea. Ambassador Xue Bing expressed his respect for all the employees of MCC and the Ramu Project, and pointed out that he will gather further information and learn more about the relevant conditions after taking up his post, which will enable him to offer help and support regarding the construction of the Malai Highway Reconstruction Project and Papua New Guinea Mining Industry Talent Training Project, and the sustainable development of the Ramu Project.