- Nickel Mines (NIC) receives its industrial business licence, or Izin Usaha Industri (IUI), for its Angel nickel project in Indonesia
- The IUI will allow the company to start commercial sales, with the first sales expected later this month
- At the end of April, Angel had produced 2975 tonnes 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, and all production to date has been stockpiled awaiting for the IUI licence
- Nickel Mines is up 2.67 per cent and trading at $1.35 per share
Nickel Mines (NIC) has received its industrial business licence, or Izin Usaha Industri (IUI), for its Angel nickel project in Indonesia.
The licence allows the company to commence commercial sales, with the first sales expected later this month.
At the end of April, Angel had produced 2975 tonnes of nickel metal with three of the project’s four lines having entered commissioning.
The fourth line is scheduled to commence commissioning by mid-May.
All producing lines are continuing to ramp-up production levels in line with expectations, and all production to date has been stockpiled awaiting for the IUI licence.
“We are delighted to have now received this industrial business licence that will enable Angel nickel project to complete its first commercial sales later this month,” Managing Director Justin Werner said.
“We have been stockpiling at the project since late January, and the recording of the first sales from Angel Nickel will mark another important milestone; importantly the project will begin to make a significant contribution to the company’s financial performance in the current quarter.”
Nickel Mines was up 2.67 per cent and trading at $1.35 per share at 12:48 pm AEST.