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LX International to Buy Indonesia's PT AKP for Nickel Mining

LX International Corp., the trading unit of South Korea’s LX Group, said on Tuesday it is slated to acquire a 60% stake in Indonesian miner PT Adhi Kartiko Pratama (AKP) at 132.9 billion won ($101.3 million) to produce nickel, a core material for electric batteries

08/11/2023
Solway News

PT Bumi Konawe Minerina (BKM) Receives Visit from North Konawe Police Chief at Mandiodo Site Office

PT. Bumi Konawe Minerina (BKM) received a visit from the Chief of North Konawe Police Resort (Kapolres) AKBP Priyo Utomo and his staff at the Mandiodo Village office in the Molawe District, North Konawe Regency, on Monday, December 4, 2023

05/12/2023
Industry News

Korea Zinc signs KRW185 billion (USD140 million) Investment Agreement with Trafigura to Build an all-in-one Nickel Refinery

Trafigura, a market leader in the global commodities industry, has agreed to invest in an all-in-one nickel refinery that Korea Zinc is set to establish through its nickel sulfate subsidiary, Korea Energy Materials (KEMCO).

20/11/2023
Industry News

Indonesia Sets Emission Target for G7 Funding, Lays out Investment Map

Indonesia aims to cut carbon emissions to 250 million metric tons for its on-grid power sector in 2030 and increase its share of renewable energy generation to 44% under a Just Energy Transition Partnership (JETP), its plan showed on Wednesday

02/11/2023
Industry News

BMW and Mercedes Battery Partner Sees Big Nickel Supply Risk

There’s been no shortage of metals industry turmoil in the early years of the electric-car age, from ups in lithium prices that Elon Musk described as insane, to downs for cobalt springing from battery-chemistry shifts.

23/10/2023

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south fergusson

EL2366

Area2,380+hectare
Nickel176+metric tons

Commodity Nickel ore

Location Milne Bay Province

Deposit 1,5% Nickel ore

Drilling 80 drilling Holes (641m)

Overview

EL2366 is a pioneering project for Solway in PNG. It has been active since the end of 2015 and has been successfully extended for three terms, thanks to the high support of the local community. South Fergusson EL area is covered with a network of well-built hauling roads constructed by Logging Company in 2013-2019 years and Sebutuya pier located within 6-7 km from the closest potential pit area. Therefore, Fergusson Project is highly suitable for setting up DSO.

Reserves and Resources

Laterite nickel resource is estimated at 1,8 Million wet metric tones with average grade of 1.7%. After extensive mechanical drilling in 2020 South Fergusson project is being prepared for next drilling phase which shall allow conducting Feasibility Study, ML application and eventually starting mining operation.

fergusson

Area7,040+hectare
Nickel112,000+metric tons

Commodity Nickel ore

Location Milne Bay Province

Deposit 1,5% Nickel Ore

Drilling 188 Drilling Holes (1020m)

Overview

This project is located in Milne Bay province, the safest of all regions in PNG. It consists of two licences EL 2366 was issued in 2015 and EL 2482 was issued in 209. They have adjacent borders and therefore shall be developed as one mining project. South Fergusson EL area is covered with a network of well built hauling roads constructed by one of logging companies in 2013-2019. On the south border there is a pier which is only 6-7 km away from the closest potential pit area of the project. Fergusson can be fairly quickly to Direct Shipment Project

Reserves and Resources

Laterite nickel resource of Fergusson is estimated at 11,7 million wet with average grade of 1,5%. After hand auger drilling works in 2015-2018 and extensive mechanical drilling in 2021 Fergusson Project is being prepared for next drilling phase which shall allow conducting Feasibility study, ML application and eventually start mining operation.

south bowutu

Area10,160+hectare
Nickel1,800+metric tons
Chromite2,500+metric tons

Commodity Nickel and Chromite ore

Location Morobe Province

Resource Potential 53+ mln wmt of nickel ore and 74+ mln wmt of chromite ore

Drilling 83 Drilling Holes (416m)

Overview

South Bowutu project is located inwards of Bird’s Tail Peninsula within Owen Stanley Range. The license area has been extensively explored since early 2016. Due to Mineral Agency regulations, it has been extended for two consequent times with compulsory relinquishment of the territory by 50%. The location of EL2384 is challenging for exploration teams to operate as logistics are highly dependent on helicopter and fixed-wing deliveries, but on the other hand, the area is not densely populated and has a lot of flat regions, which are ideal for the formation of laterite profile rich in nickel.

Reserves and Resources

Laterite nickel resource is estimated at 53 mln wmt with an average grade of 1.6%+. After further core diamond drilling with a more narrow grid, a better understanding of reserve quality and quantity can be achieved.

Potential chromite resources of South Bowutu are up to 74 mln wmt with an average grade of 7,0% Cr203

north bowutu

Area25,601+hectare
Nickel1,900,000+metric tons
Chromite11,200,000+metric tons

Commodity Nickel ore & Chromite

Location Morobe Province

Resource Potential, Up to 180 mln wmt of nickel ore and 204 mln wmt of chromite ore

Drilling 67 Drilling Holes (299m)

 

Overview

EL2568, located in Morobe Province, started with EL approval by the PNG Minister of Mine in 2019. Its chromite deposits are advantageously located on the shoreline, and in the vicinity of the potential processing area, there is access to clean water from lakes and rivers, which is a virtue for enrichment plant operation. Identified Nickel ore deposits are located further away from the sea but are still relatively feasible for direct shipment operations.

Reserves & Resources

Laterite nickel resource estimated at 180 Million wet metric tonnes with an average grade of 1.6%. There is a high potential of finding more nickel laterite fields as exploration works are at their very initial stage and cover less than 25% of the EL’s areas.

Chromite resources of the Salus project are estimated at 240 Million wet metric tonnes with an average grade of 7,0%. Metallurgical analysis of chromite sands bulk sample in Australian lab in 2020 showed that HM (heavy minerals) enrichment might reach 27,3 %, which is considered reasonably high among buyers on the international market.