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Nickel Mines Announces Signing MoA for Siduarsi Nickel-Cobalt Project

02 Sep 2021  |  14:20:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: MoA Signed for Siduarsi Nickel-Cobalt Project

Nickel Mines announced that the Company has signed a binding Memorandum of Agreement ('MoA') with PT Iriana Mutiara Mining ('IMM') for the staged acquisition of a 100% interest in the Siduarsi Nickel-Cobalt project ('Siduarsi') in Papua province, Indonesia. Siduarsi is a 6th generation Contract of Work ('CoW') and is one of four nickel CoWs in Indonesia, the other three being VALE-INCO (which hosted its Soroako nickel matte production facilities - 72kt of nickel in 2020), Weda Bay which hosted the Indonesia Weda Bay Industrial Park ('IWIP') where the Company's four Angel Nickel Rotary Kiln Electric Furnaces are currently under construction and Gag Island in West Papua province.

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