Project Development and Financial Backing
Pacific Nickel Mines has announced significant progress on its Kolosori Nickel Project, located on Isabel Island in the Solomon Islands. The project, focused on Direct Shipping Ore (DSO), has secured a US$22 million project-specific debt facility from.
Operational Milestones and Shipping Arrangements
Key developments include the arrival of four barges at the Kolosori wharf for ore loading and the booking of a 60,000-tonne ore transport ship via Glencore, expected to arrive at Kolosori on December 19, 2023. The anticipated average nickel grade for the first shipment is over 1.75% Ni. The arrival of these vessels had been delayed due to Cyclone Jasper.
Post-Cyclone Recovery and Operational Status
Despite the recent severe weather event, the Kolosori Project site has fully recovered and is operational, with no significant loss of stockpiles, equipment, or infrastructure. The project team has been commended for their efforts in ensuring the project’s timely delivery and recovery post-cyclone.
Acknowledgment of Support and Future Operations
Pacific Nickel’s CEO, Geoff Hiller, expressed gratitude for the support from landowner partners and both Provincial and National Governments. Their cooperation has been vital in the project development and will continue to be crucial in the operational phase at Kolosori. The company looks forward to delivering nickel ore to its offtake partner, Glencore, marking a significant milestone in the project’s journey.