SHANGHAI, Feb. 2 (SMM) – New Caledonia exported its first shipment of nickel ore to the Port of Lianyungang, Jiangsu Province.
It was reported that MKM, the only one company being permitted to export the resources from New Caledonia to China, completed the first shipment, carrying medium-grade ore. The shipment of ore was bought by one NPI producer in Jiangsu Province, according to sources.
MKM announced on Sep. 18, 2014 to cooperate with Jinpei Century Investment Group (Jinpei) to develop nickel business, with the latter investing $330 million in the company for owner rights of 120 million tonnes of nickel ore (Ni 1.35%), and a 49% stake.
The two companies also agreed to jointly build a ferronickel plant in Espiritu Santo, Vanuatu.
New Caledonia boasts 1/4 of world’s proven nickel ore resources, with laterite nickel ore output around 7% of the world. However, high costs from long distance have prevented Chinese buyers from importing ore from the country.
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