Pacific Nickel Mines Advances Operations at Kolosori Nickel Project
Pacific Nickel Mines has announced significant progress in the ramp-up of its mining and stockpiling activities at the Kolosori Nickel Project located in the Solomon Islands. The company, which boasts an 80% stake in the project, is making strides towards achieving its operational goals despite challenges.
Key developments include the successful loading of a second 60,000-tonne bulk carrier, which set sail on February 18, 2024, after loading was completed the previous day. This operation faced delays due to unexpected and persistent rainfall, but importantly, incurred no additional costs from demurrage. The shipment, destined for Glencore International AG, contained nickel ore with an average grade of approximately 1.65% nickel.
Pacific Nickel is focused on escalating to full ore production capacity, aiming to process around 1.5 million tonnes per annum (mtpa). Achieving this milestone is expected to take between two to three months, with the company optimistic about reaching full production capacity by the onset of the dry season starting April.
CEO Geoff Hiller expressed satisfaction with the project's progression, noting that the ramp-up to full ore production is underway despite the dual challenges of rainfall and fluctuating global nickel prices. Hiller highlighted the team's resilience and commitment to reaching the 1.5 wet mtpa production target in the forthcoming dry season, acknowledging the weather and market conditions as hurdles but not deterrents to their objectives.
The second shipment to Glencore marks a significant step in the project's commissioning phase, signaling Pacific Nickel's dedication to advancing the Kolosori Nickel Project amid the natural and market-based challenges encountered.
