Panoramic Ships First Concentrate From Savannah Nickel Project

Members of the Panoramic team, Jinchuan and CGL at the Wyndham Port. (Photo: Panoramic Resources Ltd)
Panoramic Resources Ltd. announced the first shipment of nickel-copper-cobalt concentrate from its Savannah Nickel. The MV Merwedegracht arrived at Wyndham Port on the afternoon of 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 the afternoon of 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.

Commenting on the successful first shipment, Managing Director and CEO, Victor Rajasooriar said: “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. 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, with the MV Maasgracht expected at Wyndham Port in mid-February. 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 and first concentrate shipment was expected by the end of 2021.

As featured in Womp 2022 Vol 01 -