Bosowa to invest on nickel smelter
Monday, March 26 2012 - 07:17 AM WIB
The company said it would acquire loan from national banks and Chinese banks to finance the project.
"It will take two years to complete the smelter construction," said Bosowa's Chief Executive Officer Erwin Aksa as quoted by Kontan daily, adding that the project would built on a 50 ha land area.
Construction will start in August 2012, and is expected to to complete in 2014.
Bosowa's three nickel mines in Southeast Sulawesi are expected to supply up to 50,000 tons of ferronickel to produce 10,000 tons of nickels per year. The three mines should be enough to maintain smelter production for at least 10 years.
The average price of nickel is at US$ 19,000 per ton, while nickel ore is priced at the average of US$ 50 per ton.(*)