Expansion29 Jun 2022 09:43
During the past year, our West Kytlim project saw a doubling of mine production and the development of plans for further expansion, focused on replacing diesel power with grid electricity from 100% green hydro sources. Looking forward into 2022 and for subsequent years, we expect to see a further expansion of production with this conversion scheduled for the second half of this year.
Our flagship Monchetundra project centred on our Battery Metals and PGM mine developments in Kola was further strengthened with the addition of new exploration licences, granted exclusively to the Company. This embraced the relaunch plan of the NKT nickel dominant mine which immediately became the focus of detailed assessment by our team and our technical consultants, Wardell Armstrong International. This confirmed that significant nickel sulphide ores remain, and we are now working on integrating their development with our existing Battery Metals and PGM reserves, located next door.
The further expansion of nickel and copper in our existing metals basket allows us to develop the mix of outputs from the Company's project portfolio as Battery Metals, which can be supplied into the growing demands of the modern world. We expect Kola to be a key area for future supplies of these critical metals and our projects should benefit from 'first mover' advantage around the well-established refinery city of Monchegorsk. This first mover advantage has also been further upgraded with our agreement with Rosgeo, which holds other interests in the immediate area which our project can potentially include."
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