China Hanking's Nickel Mineral Project in Indonesia Starts Shipments of High-Quality Resource
Dou Shicong
DATE:  Nov 03 2017
/ SOURCE:  Yicai
China Hanking's Nickel Mineral Project in Indonesia Starts Shipments of High-Quality Resource China Hanking's Nickel Mineral Project in Indonesia Starts Shipments of High-Quality Resource

(Yicai Global) Nov. 3 -- A nickel mineral project in Indonesia owned by precious metal exploiter China Hanking Holdings Limited [HK:3788] has produced 170,000 tons of high quality nickel minerals since its resumption of production last August. The project will become a new source of revenue growth for the company, it said.

In the first half of 2017, China Hanking has completed preparations for the recovery of production, and obtained the relevant license. The shipment of minerals has begun in batches to the local Indonesia Morowali Industrial Park starting from Oct. 17, a statement from the company indicated.

Located in Sulawesi, southeastern Indonesia, the project is a world class ultra-large nickel mine with 4.8 million tons of total output, the statement added. China Hanking has begun to exploit minerals from it since 2013.

In January 2014, to promote the development of domestic mineral processing, the Indonesian government introduced restrictions over export of minerals, which forced the project to cease production. Since then, China Hanking signed a cooperation agreement with two local mineral processing enterprises, thus resuming the production of the project.

The reproduction and sales from the Indonesian project are a milestone for the company, said Pan Guocheng, CEO of China Hanking. With the continuous development of the local mineral processing industry, the value of nickel mineral project will also gradually increase, he added.

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Keywords:   China Hanking,Indonesia,Nickel Mine,Recovery Production