China Hanking reports additional nickel ore resources in RI projects
Friday, June 28 2013 - 12:05 AM WIB
China-based firm China Hanking Holdings Limited announced Thursday the latest mineral resource estimate report of its laterite nickel ores in Indonesia.
According to the mineral resource estimate report submitted by CSA Global Pty Ltd, the subsidiaries of the company in Indonesia, PT Karyatama Konawe Utara and PT Konutara Sejati recorded an additional proven, indicated and inferred nickel ore resources of 90.54 million tons at an average grade of 0.79 percent of Ni and 50.27 percent of TFe.
The company said in a statement that of the additional resources, proven resources amounted to 45.15 million tons at an average grade of 0.75 percent of Ni and 51.42 percent of TFe, indicated resources amounted to 40.06 million tons at an average grade of 0.82 percent of Ni and 49.21 percent of TFe and inferred resources amounted to 5.34 million tons at an average grade of 0.85 percent of Ni and 48.53 percent of TFe.
Pan Guocheng, Chief Executive Officer of China Hanking commented: "Laterite nickel has a great potential for development and growth in value. Indonesia is endowed with considerable amounts of laterite nickel resources in the world and our Indonesian Project Companies cover important location points for nickel laterite deposit in Indonesia. We believe the additional resources will significantly enhance the overall asset value and profitability of the Indonesian Project Companies, enabling the Group to become a leading international resources mining enterprise and ultimately maximize shareholder's returns."
China Hanking is one of the biggest iron ore concentrate production enterprises in northeast China. The Group is engaged in the exploration, production, processing and sales of iron ore.
Editing by Reiner Simanjuntak