- Pacific Nickel Mines (PNM) has been awarded a mining lease for its Kolosori nickel project in the Solomon Islands
- The company has now turned its focus toward a definitive feasibility study (DFS) for the project, which it will finalise on the completion of light detection and ranging (LiDAR) survey work and moisture content assessment
- Furthermore, PNM is looking to expedite the wharf and haul road construction and the establishment of a construction camp in the project area
- The company says it believes this will allow the project to ramp up to full production during 2023
- Shares in Pacific Mines last traded at 8.6 cents each on September 14
Pacific Nickel Mines (PNM) has been awarded a mining lease for its Kolosori nickel project in the Solomon Islands.
The approval comes after the company successfully entered into a Surface Access Rights agreement with the area’s landowners and completed its remaining regulatory approvals.
Additionally, the company has entered a mining agreement with the Government of the Solomon Islands, setting out the mining, environmental, and fiscal terms for the project.
PNM CEO Geoff Hiller said the mining lease would allow it to progress development operations.
“This is a major achievement for the company, and we welcome the support of the national, Isabel provincial governments and landowners to develop the Kolosori nickel project,” Mr Hiller said.
The company has now turned its focus toward a definitive feasibility study (DFS) for the Kolosori project, which it will finalise on the completion of light detection and ranging (LiDAR) survey work and moisture content assessment.
PNM said an initial LiDAR survey had been completed over the development area and the initial mining areas, with the remaining mining area to be completed as soon as possible.
Furthermore, the company said it was looking to expedite the wharf and haul road construction and the establishment of a construction camp in the project area.
It believes this will allow the project to ramp up to full production of roughly 1.3 million wet metric tonnes of direct shipping nickel ore per year during 2023.
Shares in Pacific Mines last traded at 8.6 cents each on September 14.