Central Omega?s ferronickel export lower than target

IDX-listed nickel firm PT Central Omega Resources Tbk said that it had exported a total of 24,863 tons of ferronickel to China throughout 2017, lower than the initial target sales volume of 43,000 tons, Kontan reported on Friday.

The paper quoted Central Omega Director Feni Silviani Budiman as saying that the company through subsidiary PT COR Industri Indonesia has made four shipments to China in 2017. The first 7,000 tons of ferronickel shipment was made in the middle of the year to Macrolink Resources Development and Investment Co Ltd. After that the company made three other shipments.

The paper said that Central Omega plans to increase ferronickel sales volume target in 2018 to 86,400 tons, and 1 million tons of low grade nickel ores, up from 500,000 tons in 2017. The company in 2017 obtained permit to export up to 700,000 tons low grade nickel ores.

Central Omega through PT COR Industri operates a ferronickel smelter in Morowali Utara Regency, Central Sulawesi Province, which started production in June of 2017. The smelter has a capacity of 100,000 tons of ferronickel per year. The company plans to expand the smelter facility.

Central Omega also aims to acquire at least three additional nickel mines in Central Sulawesi to increase its nickel reserves. (*)