Maravi

Albidon earns from first sale of concentrate

Albidon earns from first sale of concentrate
Written by Chiwoyu Sinyangwe
Saturday, December 27, 2008 1:15:41 PM

ALBIDON has recorded its first revenue from the sale of concentrate from its Munali Nickel Project in Mazabuka.

According to a statement, Australian-based Albidon Limited described the development as a significant step in the transition from development to producer. The company did not, however, state the revenue realised from the transaction.

“In addition, Albidon is actively seeking to sell a parcel of low grade out of specification concentrate, produced during the beginning of commissioning of the concentrator, when mineralised waste was being fed into the concentrator,” the statement read in part.

It also stated that commissioning was progressing well, with the nameplate capacity of 900 000 tonnes per year being achieved on a number of occasions.

“Focus at Munali remained on increasing the processing facility throughout to nameplate capacity and once this was reached, it aimed to expand its targets to 1.2 million tonnes a year of ore mined, which would generate between 10,000 tonnes per year of nickel, in a high quality nickel copper cobalt platinum group metals concentrate,” further read the statement.

Demand from China for nickel and stainless steel has been relatively robust, with China expected to maintain a minimum growth rate of 7 to 8 per cent annually as compared to the recent 11 per cent.

Munali Nickel mine in Mazabuka is the country's first and sole nickel mine.

Labels: ALBIDON, MUNALI NICKEL MINE, NICKEL

posted by MrK @ 1:16 PM