Zeta provides funding to Panoramic

ASX-listed Zeta Resources has provided nickel miner Panoramic Resources with an A$8-million unsecured loan to fund activities at the Savannah project, in Western Australia, and for working capital purposes. The loan will have an interest rate of 6% a year, and is unsecured and subordinated to the Macquarie Bank senior facility, and has a maturity date of June 30, 2022.

Zeta provides funding to Panoramic

ASX-listed Zeta Resources has provided nickel miner Panoramic Resources with an A$8-million unsecured loan to fund activities at the Savannah project, in Western Australia, and for working capital purposes. The loan will have an interest rate of 6% a year, and is unsecured and subordinated to the Macquarie Bank senior facility, and has a maturity date of June 30, 2022.

Indonesia nickel miners urge end to export ban to cushion coronavirus impact

Indonesia should allow exports of nickel ore to help offset the impact of the fall in exports of processed nickel caused by the coronavirus outbreak, the Indonesian nickel miners' association (APNI) said in a document seen by Reuters. Indonesia, once the world's biggest nickel ore exporter, started banning exports of nickel ore in January as part of efforts to boost expansion of its domestic smelting industry. But as the coronavirus slowed production and exports of processed nickel, the APNI said a reversal of Indonesia's nickel ore export ban could help the country to reduce the economic impact of the novel coronavirus.

Kambalda restart to cost A$68m – Mincor

A definitive feasibility study (DFS) into its integrated nickel re-start plan, in Kambalda, has confirmed the potential for the production of 63 000 t of nickel-in-concentrate over a five year period. ASX-listed Mincor Resources on Wednesday noted that the project would require a capital investment of A$68-million and would have a life-of-mine all-in sustaining cost of A$4.47/lb.

Panoramic completes Savannah underground handover to Barminco

ASX-listed Panoramic Resources has successfully transitioned all underground mining activities at its Savannah nickel mine in Western Australia to the stewardship of underground contractor Barminco. Barminco has rapidly mobilised its key personnel and initial equipment to site, with the underground transition and full operation handover occurring ahead of schedule on March 1.

Indonesia expects delay to $11bn nickel projects due to coronavirus outbreak

Indonesia's coordinating minister overseeing maritime resources and investment affairs said on Tuesday that the coronavirus outbreak in China will likely delay development of nickel projects in the Southeast Asian country worth about $11-billion. Minister Luhut Pandjaitan told reporters that projects being developed in Morowali and Konawe on Sulawesi island and in Weda Bay in North Maluku will be affected by measures taken in China to rein in the epidemic that have curbed industrial activity.

Panoramic signs up Barminco for underground work

Nickel miner Panoramic Resources has inked a long-term underground mining contract with contractor Barminco at its Savannah nickel mine, in Western Australia. Barminco’s parent company Perenti on Friday said that under the near A$200-million contract, Barminco will undertake mine development, production and haulage over a three-year term, and would employ some 170 staff.

Panoramic divests of Horizon shares

Nickel miner Panoramic Resources has sold off a portion of its shareholding in fellow listed Horizon Gold. The ASX-listed company on Tuesday told shareholders that it had sold more than 20.23-million Horizon shares at a price of 27c a share to Zeta Resources, raising some A$5.5-million.