Panoramic Resources to restart nickel project in Australia
To support the resuming of operations, Panoramic has entered a five-year nickel and copper concentrate offtake agreement with Trafigura Group.
To support the resuming of operations, Panoramic has entered a five-year nickel and copper concentrate offtake agreement with Trafigura Group.
Highlights include 9.5 metres grading 0.39% cobalt and 0.62% nickel starting from 77.5 metres.
Vale said it will have a supply contract with the Trafigura-led consortium to off-take part of the nickel produced there.
Nornickel's dividend policy is set under an agreement between Interros Holding, controlled by Vladimir Potanin, and Rusal.
Production at the Taimyrsky mine, which has also been affected by water, would begin in June.
Singapore commodity trader has removed Ng Yu Zhi from his role as managing director following investigations by authorities into the firm's nickel trading.
The board of directors at Nornickel, in which Rusal holds a 27.8% stake, will discuss its 2030 investment strategy and dividend guidelines on March 29.
Project had been shut since March last year due to the covid-19 pandemic.
Nornickel said last week that the spin-off of the Bystrinsky mine near the Russia-China border would happen within two years subject to regulatory and other approvals.
The Oktyabrsky and Taymirskiy mines account for 36% of ore mined by the company in Russia.
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