Nickel Industries (ASX:NIC) this morning announced a major increase in resources at the Hengjaya mine in Indonesia, positioning the ASX-listed company as one of the world's leading suppliers of nickel for stainless steel and batteries.
With the launch of the Angel Nickel project and the Oracle RKEF plant under construction, the fast-growing nickel producer expects to become one of the top 10 nickel metal suppliers globally by 2023, with a 100% nameplate capacity of 130,000 tons of nickel in Nickel Pig.
NIC is very focused on the rotary furnace electric furnace line built in a fast time with the help of China Xingshan's major partners and stainless-steel company
But his Hengjaya mine contains 300Mt of ore with an average of 1.22% nickel and 0.09% cobalt, 3.7Mt of nickel metal, and 270,000t of cobalt
Consisting of 1,784 hectares of the 5,983 hectares of Hengjaya concessions, new resources increased by 333% tons, resources increased by 20% and guessed resources increased by 53%.
This comes from drilling covering a grade of 6.36%, which should be used to avoid overestimating resources with a very high statistical cut of 2.42-2.91% nickel
NIC's high-grade saprolite resource of 72Mt, 1.8% nickel, will be used to supply 8.8Mt of ore per year to hengjaya, ranger, and oracle plants, with Hengjaya expected to supply 3.5-4Mt per year once the road is connected. Mining for industrial areas is completed.
Source: https://suarapalu.com/
Image source: suarapalu.com
