Mandan Steel hosts ground breaking on smelter development
Thursday, July 5 2012 - 12:14 AM WIB
By Demas Simbolon
PT Mandan Steel, an Indonesian company in which China Nickel Resources holdings holds 61 percent interest, officially hosted a ground breaking ceremony for its steel and iron smelter facility in Batulicin.
The facility will have capacity of 3 million tons.
It said that the first phase with capacity of 1 million tons will commence commercial production in 2014.
"The total investment amount of phase one of the facility is approximately US$500 million which will be met by both internal resources and external financing," China Nickel Resources said.
Facility will process the ores provided by PT. Yiwan Mining, the Company?s ores supplier.
Editing by Adianto P. Simamora