Panoramic Resources (ASX:PAN) has achieved a significant milestone at its Savannah Nickel Project, with the production of first nickel-copper-cobalt concentrate at the site’s processing plant.
The result comes after news that the ~1Mtpa plant had been successfully commissioned three weeks ahead of schedule, with operator Primero completing requisite preparatory works, and ore processing operating on a 24/7 basis.
“The timing of first concentrate production has also aligned well with prices for nickel, copper and cobalt, which have continued to show strength as the year progresses”
Speaking on the news, Panoramic Resources Managing Director and CEO Victor Rajasooriar said: “It’s fantastic to see the careful planning and hard work undertaken over the past 12 months culminate in the commencement of processing ahead of schedule.
The leadership group at site and our business partner Primero have been working hard to deliver on the restart of the processing plant and have achieved this safely. We have been pleased with the performance of the plant through the commissioning phase and will now target ramp up to steady state production over the coming months.
The timing of first concentrate production has also aligned well with prices for nickel, copper and cobalt, which have continued to show strength as the year progresses.”
Ore feed for the plant is being sourced from a 120kt+ stockpile that has been accumulating since mining operations restarted at Savannah in April 2021, and which the company states will provide consistent supply and reduce throughput risk.
Concentrate product is currently being stockpiled onsite, with haulage to the Wyndham Port scheduled to begin next week in advance of first shipment in December 2021. The company reports that it is in the process of securing a ship to complete transport of the concentrate to offtake partner Jinchuan, a Chinese state-owned resources company.
Images: Panoramic Resources Limited
