Global Ferronickel Holdings Inc., the country’s second-largest nickel producer, said Friday it expects nickel shipments to reach 6 million wet metric tons in 2021.
GFNI said in a disclosure to the stock exchange operating unit Platinum Group Metals Corp. commenced shipment of nickel ore to customers in China.
“We are confident in hitting this year’s target, weather permitting, with the opening of CAGA 1 next month which is expected to boost capacity by 10 percent,” said GFNI president Dante Bravo.
The nickel miner also expects 70 percent of its sales to be low-grade nickel ore and 30 percent, medium-grade nickel ore.
The group programmed $5 million for 2021 capital expenditures. It earlier reported that PGMC’s mine area has proven and probable ore reserves of 59.45 million WMT.