The Australian Government has granted NiCo Resources’ (ASX:NC1) Wingellina Nickel Cobalt Project with ‘major project status’.
Wingellina is a large oxide-type nickel-cobalt limonite deposit located in the Musgrave Ranges of Western Australia. The project lies 100km east of BHP’s (ASX:BHP) West Musgrave Nickel-Copper Project.
Major project status is recognised nationally as projects that are deemed significant to the development of Australia’s critical minerals, in line with the federal government’s strategic policies and priorities.
As a result of NiCo obtaining such status, the company has access to the Major Projects Facilitation Agency, which provides additional resources and support, including streamlining regulatory approvals to assist with the project’s development.
Managing Director Jonathan Shellabear says this recognises the project’s significance to economic growth, employment opportunities, and regional development for Australia.
“Wingellina is one of the largest undeveloped nickel-cobalt projects globally and one of the very few development opportunities for a major new nickel development outside of the Chinese-dominated, Indonesian nickel industry,” Shellabear says.
“The industry has undergone a major structural shift in recent times and experienced significant changes in supply dynamics and pricing.
“Notwithstanding the temporary challenges in the sector, if operating in the current environment, the Wingellina Project would have survived the carnage that has enveloped much of the Western world’s nickel supply. It is a matter of time before such a substantial deposit like Wingellina provides a long-term stable and secure supply of nickel and cobalt.”
During December 2022, a Prefeasibility Study was completed for the Wingellina Project, which highlighted a viable asset capable of producing up to 40,000 tonnes of nickel and 3,000t of cobalt in a mixed hydroxide precipitate (MHP) for at least 42 years.
The MHP product contains essential critical minerals used in batteries and energy storage systems required for the global energy transition. When developed Wingellina will play a critical role in the Australian Government’s strategy to create resilient and diverse supply chains.
The Wingellina Project hosts an open pit mining reserve containing 1.56 million tonnes of nickel and 123,000 tonnes of cobalt.
Write to Aaliyah Rogan at Mining.com.au
Images: NiCo Resources
