- Write by:
-
Friday, August 3, 2018 - 10:31:35 PM
-
1042 Visit
-
Print
Mining News Pro - TOKYO – Japanese trading house Sumitomo Corp expects that nickel output at its Ambatovy project in Madagascar will likely fall short of its earlier target of 48 000 t in the year to March 2019, its chief financial officer said on Friday.
The Ambatovy project has run at about 64% to 65% of full capacity in the April to June quarter and it is running at about 70% now," Sumitomo CFO Koichi Takahata told a news conference, adding that it aims to raise and maintain the rate at 80% as soon as possible.
Sumitomo said in May that it expected around 48 000 t of nickel output at the Ambatovy nickel-cobalt project this financial year based on the assumption of an average operation rate of 80%.
Sumitomo owns a 47.7% stake in Ambatovy, while Canada`s Sherritt International and South Korea`s Korea Resources also hold stakes in the project.
Short Link:
https://www.miningnews.ir/En/News/228982
Indonesia’s outgoing government has added 16 programs to its list of strategic projects that will receive state support, ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
The Philippines said on Friday it aimed to add three more processing plants in the effort to develop a downstream ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
Indonesia’s nickel reserves are sufficient for expanded processing operations, an investment ministry official said on ...
The US and the Philippines are in discussions over ways to prevent China from dominating nickel processing in the ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
Eramet subsidiary SLN’s nickel mining operations in northern New Caledonia have been suspended, adding to difficulties ...
No comments have been posted yet ...