Canada's MBMI Resources has said that it has signed four contracts to ship a total of 125,000 tonnes of nickel ore to buyers in Asia. It added that two contracts provide for the delivery of two separate 35,000 tonnes shipments of nickel ore at 1.4% nickel to an Asian consumer. Two other contracts have been signed with another Asian buyer for the delivery of two shipments of higher grade nickel ore of approximately 27,500 tonnes each.
Michael Mason, president of MBMI, said that "Demand exists in Asia for the type of direct shipping nickel material available within the Alpha nickel project and cash flow can be generated even under these extreme market conditions and depressed nickel prices. Asian consumer interest for lower grade nickel material with high iron content has improved during 2009, and MBMI is very encouraged by the increasing level of market interest for the full range of nickel products which the Alpha project is able to offer."
MBMI earlier said that nickel laterite shipments from MBMI's Alpha nickel project have an average grade of 1.85% nickel. The company and its local subsidiaries jointly control eight laterite nickel projects in Palawan and Samar provinces in the Philippines, covering an area exceeding 22,000 hectares.
Source: Steel Guru
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