Sherritt makes preparations for drilling program in Sulawesi nickel project
Thursday, April 25 2013 - 01:43 AM WIB
World?s leading lateritic ore nickel miner and refiner giant Sherritt International Corp said that preparations are underway to start exploration drilling program in the Sulawesi nickel project soon.
The company said in a statement received Wednesday that approval to proceed with the exploration drilling program was received from the Indonesian Ministry of Energy and Mineral Resources in February 2013.
?During first-quarter 2013, the two helicopters supporting the drilling program began transporting construction materials to the exploration camp site and the forward supply base, and construction of the exploration camp and the forward supply base commenced,? the company said.
Exploration drilling to refine the definition of the deposit is expected to start in second-quarter 2013. ?The corporation continues to advance work on the Sulawesi Project including environmental and social baseline studies and the Project pre-feasibility study.?
To March 31, 2012, the corporation has incurred a total of US$21.3 million of qualifying expenditures, or 19 percent of the funding requirements to obtain Sherritt's 46 percent economic interest in the Sulawesi Project.
Editing by Reiner Simanjuntak