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Ramu Nickel Project, PNG Update

Highlands Pacific Ltd as a current 8.56% shareholder in the constructed US$1.5 billion Ramu Nickel Project in Papua New Guinea, has been advised by the project’s operator / manager, Ramu NiCo Management Ltd, that the Chief Inspector of Mines has ordered that all work must cease and all persons be withdrawn from the Basamuk Refinery Site pending further direction.

Managing Director of Highlands Pacific Mr John Gooding said: “The Company is working with its joint venture partners, the operator / manager and the Chief Inspector of Mines (CIM) to develop a plan to move forward. We support the CIM in his actions as the safety of employees is paramount to having a successful operation and we are confident that actions now put into place by Highlands will assist to resolve the issue in the near future.”

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