Panoramic reports stellar quarter
PERTH (miningweekly.com) – Despite taking a decision to idle its Savannah operations, in Western Australia, nickel miner Panoramic Resources has set a new quarterly production record at the project area during the three months to March.
The Savannah project delivered 2 861 t of nickel-in-concentrate during the three months under review, which was up from the 2 599 t of nickel-in-concentrate produced during the previous quarter.
Panoramic in January this year took the decision to idle the Savannah operation on the back of declining nickel prices and an uncertain outlook for the price over the foreseeable future. The decision resulted in 53 redundancies during the March quarter.
The project was expected to be moved onto care and maintenance during the June quarter.
While the Savannah mine was on care and maintenance, Panoramic would conduct additional exploration and complete a feasibility study on the Savannah North nickel project.
If the decision to develop Savannah North was made, it would most likely be made in conjunction with the restart of mining and processing at the Savannah mine.
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