Panoramic Resources Ltd. shipped its first nickel-copper-cobalt concentrate from its Savannah Nickel project. The MV Merwedegracht arrived at Wyndham Port on December 21. Stevedoring contractor CGL loaded the ship with 10,865 metric tons (mt) of nickel-copper-cobalt concentrate, which took a little more than four days. The ship set sail on December 26 for the Port of Lianyungang in China where Panoramic’s offtake partner Jinchuan took delivery. The cargo had a value of $14.8 million.
“The loading of the ship was carried out efficiently and CGL did a fantastic job in executing the works safely during a very busy festive period,” Managing Director and CEO Victor Rajasooriar said. “It is pleasing to see the final piece of the puzzle coming together to bring the revenue stream into the operations. With nickel, copper and cobalt prices strengthening, and forecast to remain buoyant into 2022, we look forward to more successful shipments in 2022.”
A second shipment is planned for February 2022, with the MV Maasgracht expected to arrive at Wyndham Port in mid-February 2022.
A Western Australian-based company, Panoramic owns the Savannah nickel project in the East Kimberley. Panoramic commissioned and operated the project from 2004 until 2016 before the mine was placed on care and maintenance. Following the discovery of the Savannah North orebody, the mine was recommissioned in 2018 before operations were temporarily suspended in 2020.
Panoramic has completed an updated mine plan for Savannah, which outlined an attractive near-term nickel sulphide mine restart opportunity. Following the completion of a ventilation shaft at Savannah North, additional underground capital development and ancillary works, the Panoramic restarted Savannah in April 2021 with a goal of first concentrate shipment by the end of 2021.
