GTI in talks with interested parties to fund smelter project
Wednesday, April 29 2015 - 06:28 AM WIB
ASX-listed GTI Resources Limited announced that it is in discussions with potential interested parties in respect of funding options to advance the possibility of building and operating a nickel smelter in Indonesia.
?Many projects have been evaluated by the team both in Indonesia and other countries however at this time a suitable project has not been identified. The board will continue to exhaust all avenues in locating a project that is acceptable to the technical team, as a project that would advance the company and shareholder interests,? the firm said.
In December 2014 the company received a commissioned technical report covering a high level review of the geology exploration and resource potential of certain nickel projects located in Indonesia. The company continues to review finance options to advance this opportunity.
The Indonesian Government has asked for expressions of interest in respect of the installation of nickel smelters. The Constitutional Court of Indonesia in December 2014 upheld the country?s ban on exports of raw materials. The Indonesian Government now requires full domestic processing and refining of nickel ore in country.
Editing by Johannes Simbolon