Global Ferronickel Holdings Inc. said Tuesday subsidiary Platinum Group Metals Corp. started the delivery of nickel ore to China.
FNI said the first shipment left the PGMC anchorage area in Surigao del Norte on April 9. The loading of nine more vessels is expected to be completed between April and May.
“We’ve had an early start to mining operations this year due to favorable weather conditions. We look forward to continued good weather in the weeks and months to come to meet our 2017 shipment target of 6 million WMT,” said FNI president Dante Bravo.
PGMC signed supply agreements for the delivery of up to 4 million WMT at prevailing market price to several long-standing customers and said it was expecting to secure more supply contracts to match target production for the year.
“We would like to take advantage of the rebound in nickel prices. For April, almost two-thirds of our shipment will be medium-grade nickel ore and the remainder will be low-grade nickel ore,” Bravo said.