Ibris Nickel resizing nickel ore production
Saturday, August 24 2013 - 03:26 AM WIB
SGX-listed minerals mining company, Ibris Nickel Pte Ltd has cut down its nickel ore production from its concession in Malone, North Konawe, Southeast Sulawesi, in the wake of unfavorable weather condition and the current downturn in the global mining sector.
Agus Suhartono, Chief Operating Officer of Ibris Nickel Indonesia told Petromindo.com on Friday that the company is currently producing only 200,000 metric tons per month of nickel ores. During normal times, the company's production ranges from 300,000 tons to 350,000 tons per month.
"They are two factors why we re-size our production capacity. Firstly, because of the weather (heavy rains), and second because the price of the commodity is still weak," he said.
Agus said that initially, the company was expecting to produce at least 3 million metric tons this year, compared to 2012's production of 2.5 million metric tons. However, due to the heavy rainfall during the first semester of this year, the company could not produce the ores maximally.
Editing by Reiner Simanjuntak