Nickel Industries Acquires 51% Stake in Siduarsi Project: Australian-based Nickel Industries has acquired a 51% stake in the Siduarsi nickel-cobalt project in West Papua, Indonesia. This follows a September 2021 agreement with Iriana Mutiara Mining, which allows for potential full ownership contingent on certain conditions.
Potential for Increased Ownership: Nickel Industries can expand its stake to 82.5% pending a feasibility study approval from the Indonesian Mines Department. The Siduarsi deposit covers 16,470 hectares and is estimated to contain 52 million dry metric tonnes of mineral resources, with nickel concentrations at 1.1% and cobalt at 0.1%.
Focus on Processing Opportunities: Initial tests indicate that the deposit’s limonite and saprolite ores are suitable for high-pressure acid leaching (HPAL) and rotary kiln electric furnace (RKEF) operations. Managing director Justin Werner stated the priority is to ship limonite ore to the Weda Bay Industrial Park while exploring HPAL processing for higher-value products like mixed hydroxide precipitate (MHP), nickel sulphate, and nickel cathode.
Significant Interests in Indonesia: Nickel Industries already has substantial investments in Indonesia, including an 80% stake in four nickel projects and participation in two HPAL projects, producing various nickel products such as NPI, matte, MHP, and nickel sulphate.
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