The mine sites of Platinum Group Metals Corp. in Surigao and Isabela will ship at least 450,000 metric tons of nickel ore to Australia before the end of the third quarter of this year.
The company said in a statement that its mine site in Cagdianao, Surigao del Norte was scheduled to ship at least six boatloads of 50,000 metric tons while its Isabela mine will export three boatloads of 50,000 MT starting in August.
Platinum Group signed a five-year contract with Queensland Nickel Ltd., a wholly-owned subsidiary of BHP Billiton, covering an annual supply of at least 1.2 million MT of nickel ore from its mine sites in Isabela and Surigao. The supply agreement with Queensland Nickel is renewable for another five years.
The Surigao mine site will finish loading the second 50,000 MT before the end of this week. It will complete shipping four more boatloads of 50,000 MT before the end of September.
The Isabela mine will overlap shipments with Surigao starting in August until it completes the shipments at the end of the third quarter.
Source: Manila Standard
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