FNI begins 2023 with nickel shipment to China

Platinum Group Metals Corporation (PGMC), a subsidiary of Global Ferronickel Holdings Incorporated (FNI), is targeting 91 shipments of nickel ore to China this year.

In a statement, FNI said that the unit has successfully delivered its first shipment of nickel ore to China this year. The shipment consisted of 55,300 wet metric tons (WMT) of low-grade nickel ore with a nickel content of 1.2%

China continues to be the world’s largest consumer of nickel, and with the subsiding restrictions due to the COVID-19 pandemic, resilient property sector, and the continued growth of electric vehicle production, these factors are expected to further increase the demand.

For this reason, FNI expressed their enthusiasm about the chances offered by the market and guaranteed that it could fulfill the customer’s needs.

“We hope to complete 91 shipments for the year, totaling five million WMT, weather permitting. This year’s target volume will enable us to operate at maximum efficiency throughout the season which runs from March to October,” FNI president Dante Bravo said.

The anticipated sales mix will comprise 60% medium-grade nickel ore and 40% low-grade nickel ore.

PGMC is currently the operator of the Cagdianao Mine located in Surigao del Norte, which ships out low-grade and medium-grade nickel ores for an average of five million WMT shipment capacity a year for the last decade.