Shappire closes $3.6m nickel ore supply deal
Thursday, July 14 2011 - 07:40 AM WIB
Singapore-listed firm Sapphire Corporation Limited announced Wednesday that its subsidiary Sapphire Mineral Reesources Pte Ltd (SMRPL) has signed a Purchase & Sales contract to supply a shipment of nickel ore valued US$3.6 million from Indonesia to an undisclosed Hong Kong-based customer.
To harness the growth potential of the nickel trading business, SMRPL has recently incorporated a new company, Sapphire Nickel Resources Pte Ltd, an investment holding company based in Singapore.
The company is principally involved in the manufacture of vanadium and steel-related products and has been pursuing opportunities to beef up its mineral resource trading capabilities which include trading in iron ore, manganese and coal.(romel)