Posted on 16 Mar 2023
Australian miner Pacific Nickel Mines confirms that approval has been granted for the issue of an export permit for its 80% owned Kolosori nickel project in Isabel Island in the Solomon Islands.
The export permit has been approved for three years and will allow the company to sell and export nickel ore produced from the project, Kallanish notes.
The granting of this approval is a major milestone for the company and a significant step forward in terms of securing the funding facilities offered by Glencore International AG for further development of the project.
The company has already initiated discussions with barging and mining contractors.
When the direct shipping ore (DSO) loadout wharf is built, the mining contractor mobilised and the haul road to the mining area completed, the project is expected to ramp up to full production of about 1.5 million wet metric tonnes/year of direct shipping nickel ore during 2023.
“The company will now proceed with the finalisation of financing facilities being offered by Glencore with the aim of drawing down development funds at the earliest opportunity,” ceo Geoff Hiller says.
He says the company believes that the project holds relatively low technical risk and that capital payback will be achieved in under 12 months.
Source:Kallanish
