Global Ferronickel Holdings Inc. said Wednesday it plans to ship 5.5 million wet metric tons of nickel ore this year, up 12.7 percent from 4.88 million WMT shipped in 2021.
FNI said in a disclosure to the stock exchange wholly-owned unit Platinum Group Metals Corp. started to ship to customers in China with 53,700 WMT of low-grade nickel ore bound for Guangdong Century Tsingshan Nickel Industry Co. Ltd.
“We are upbeat that our mining operations at PGMC have been running seamlessly from the get-go. Weather permitting, we might be able to exceed this year’s target of 5.5 WMT consisting of 60 percent low-grade ore and 40 percent medium-grade ore,” said FNI president Dante Bravo.
PGMC has a general nickel ore supply contract with GCTNICL and Baosteel Resources International Co. Ltd. for 20 and 30 shipments, respectively.
“We remain bullish as demand from China continues to be strong, and nickel prices have been rising in recent years. And with current global events adversely affecting oil prices, there is a greater appreciation for electric vehicles, which use nickel for their rechargeable batteries,” said Bravo.