Nickel Mines readies for first revenue from Angel
PERTH (miningweekly.com) – ASX-listed Nickel Mines has been granted an Izin Usaha Industri (IUI), or Industrial Business Licence, at its 80%-held Angel Nickel project, in Indonesia, allowing it to start commercial sales of nickel.
First sales from Angel Nickel are now being targeted for later this month.
Nickel Mines on Tuesday reported that at the end of April, the project had produced 2 975 t of nickel metal, with three of the project’s four lines having entered commissioning. All producing lines are continuing to ramp up production levels in line with expectations, with all production to date having been stockpiled awaiting the receipt of the IUI licence.
The project’s fourth line is scheduled to commence commissioning by mid-May.
Each of Angel’s four rotary kiln electric furnace lines has a nameplate capacity of 9 000 t/y of nickel metal, equating to 750 t of nickel metal a month.
“We are delighted to have now received this industrial business licence that will enable Angel Nickel to complete its first commercial sales of nickel metal later this month. We have been stockpiling nickel metal since late January, and the recording of the first sales from Angel Nickel will mark another important milestone for the project; importantly the project will begin to make a significant contribution to the company’s financial performance in the current quarter,” said Nickel Mines MD Justin Werner.
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