Pacific Nickel Mines expects first shipment from Kolosori in November: Chairman Greg Foulis
Greg Foulis, chairman of Pacific Nickel Mines (ASX:PNM), said the company has finished developing its Kolosori nickel project in the Solomon Islands, and is moving into production with the first direct-ore shipment expected in 2023.
In early November Foulis was interviewed by Kitco Mining at the International Mining and Resources Conference (IMARC 2023) in Sydney, Australia.
Alongside Kolosori, Pacific Nickel is also developing the Jejevo project, which Foulis called “a rinse and repeat. We’re looking to replicate the success that we’ve had with our first project.”
Foulis highlighted Pacific Nickel’s partnership with Glencore, which provided a USD$22 million loan facility and an offtake agreement. He spoke to the importance of Southeast Asia for nickel.
“New Caledonia has been a major supplier of lateritic nickel and in more recent years you've had the rise of Indonesia to be a dominant player in nickel along with the Philippines,” he said. “We believe that Solomon Islands and our projects will provide a niche part of that market.”
A compressed timeline of four months to build the project hasn’t diluted the importance of working with the community.
“There’s only one key to success in mining and that's community relations,” Foulis emphasized. “We believe we've got it right; we've got a 200-strong workforce on site working 24/7 so that's the achievement.”
Kitco Mining's coverage of IMARC 2023 was sponsored by White Noise Communications.