PERTH (miningweekly.com) – Junior Pacific Nickel Mines has been given approval for the grant of the export permit for its Kolosori nickel project, on the Solomon Islands.
The export permit has been approved for a period of three years, which is the maximum period an export permit for minerals can be issued, and would allow the company to sell and export nickel ore produced from Kolosori.
“The granting of approval for an export permit for the Kolosori nickel project is a major achievement for the company and is significant as we advance works for the development of the project,” said Pacific Nickel CEO Geoff Hiller.
“The company has worked closely with the local community, the provincial government and the minerals board to satisfy regulatory requirements for the granting of this approval. The recent completion of a definitive feasibility study, which confirms the strong economic viability of the project, supports the confidence shown by various levels of government in the development of this project.”
Hiller said that the company would now proceed with the finalisation of financing facilities being offered by Glencore with the aim of drawing down development funds at the earliest opportunity.
“The company believes that the project holds relatively low technical risk and that capital payback will be achieved in under 12 months. The company remains committed to developing the Kolosori nickel project for the benefit of all stakeholders. It will be a high-quality nickel operation and will operate in accordance with the highest possible environmental standards for the overall benefit of the Solomon Islands and its people.”
Pacific Nickel is hoping to start direct shipping ore production at Kolosori late in the third quarter of this year, subject to financing and contractor mobilisation.