Nickel Mines Limited announced that the Oracle Nickel Project had been granted an Izin Usaha Industri (IUI or Industrial Business Licence), allowing it to begin commercial sales from stockpiled NPI production.
With all four RKEF lines now operational, Oracle Nickel had created 5,953 tonnes of nickel metal (in NPI) as of the end of March. All lines are ramping up as expected, with commercial sales beginning following the receipt of the IUI licence. The remaining NPI inventories will be auctioned in stages throughout the June quarter.
Nickel Mines additionally reports that construction of Oracle Nickel’s designated powerplant is progressing well and is currently scheduled to begin commissioning in the current quarter, after which time production is anticipated to spike to over 130% of nameplate capacity, resulting in an approximate 50% increase in production from December quarter levels.
“Having stockpiled NPI from ONI since late January we are delighted to have now received this Industrial Business Licence and to have commenced selling NPI. Our first sales from ONI mark another important milestone for the Project and we now look forward to seeing production continue to ramp-up in the months ahead and for ONI to become a material contributor to the Company’s RKEF operations,” Nickel Mines Managing Director Justin Werner said.
