Central Omega seeks to export low grade nickel ores
Thursday, July 6 2017 - 04:32 AM WIB
IDX-listed mining firm PT Central Omega Resources Tbk is seeking permit from the government to export about 500,000 tons of low grade nickel ores this year.
Central Omega Director Feni Silviani Budiman told Petromindo.com recently the company would apply for the required export recommendation letter with the Ministry of Energy and Mineral Resources (MEMR) next month. The export recommendation letter is necessary to be able to get export permit from the Ministry of Trade.
Feni said that the company has already completed all the required documents to get the export permit.
She said that based on the capacity of its ferronickel smelter in North Morowali, Central Sulawesi, the company is entitled to get export quota of up to 1 million tons from the MEMR, but this year the company will only seek for export quota of 500,000 tons.
Central Omega through its subsidiary PT COR Industri Indonesia operates a ferronickel smelter in North Morowali with installed capacity of 100,000 tons per annum. Central Omega owns 60 percent of COR, while the remainder is held by PT Macrolink Nickel Development, a local subsidiary of China?s Macrolink Group.
On June 23, COR signed a ferronickel sales and purchase agreement with Macrolink Resources Development and Investment Co Ltd., under which it will sell about 7,000 tons (+/- 10%) of ferronickel to Macrolink Resources, a subsidiary of Macrolink Group, with port of loading in North Morowali and China as the country of destination.
Editing by Reiner Simanjuntak