I stumbled upon this good news today. Not sure if investors are aware of this. Potentially taking off approx $100M from the base cost for building tailings dams for the mine if MGO can do the same thing as Ramu Nickel mine. This is a good precedent set by the court provided that it's the most optimal solution for the environment.
________________________________________________________________________ Papua New Guinea's Supreme Court has rejected the final appeal by landowners to stop the deep sea dumping of waste from the Chinese-owned Ramu Nickel mine near Madang.
Landowners had argued the dumping of 5 million tonnes of waste a year into the biodiverse waters of the Coral Triangle would ruin their livelihoods.
After a long and controversial court case, PNG's Supreme Court has ruled two to one in favour of the mining company.
The project - the first of its kind for the country - is expected to yield 31,000 tonnes of nickel and more than 3,000 tonnes of cobalt a year for at least 20 years.
But it will also lead to 100 million tonnes of waste being dumped into the Bismarck Sea.
Ginia Topa, from the landowners' legal team, was in the court on Thursday to hear the decision.
She told Radio Australia's Pacific Beat her clients are feeling very sad.
"I would personally say it's a really sad day for Papua New Guinea, because if this case was ruled in favour of our clients it would have been a precedent for us to be able to stop environmental damage by big mining companies," she said.
"But the advantage, the upper hand, that mining companies have is actually allowing for this to happen."
MGO Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
