Panoramic first shipment exceeds expectations

panoramic

The MV Heemskerkgracht in Wyndham. Image: Panoramic Resources (2019).

Panoramic Resources has set sail on its first nickel-copper-cobalt concentrate shipment from Wyndham Port in Western Australia, significantly surpassing its target of up to 10,000 tonnes.

On December 17, the company had hauled 8950 tonnes of concentrate with 500 tonnes still said to be moved to the port from Panoramic’s Savannah nickel project.

The first shipment, however, exceeded the company’s target of 9000 – 10,000 tonnes, with 10,865 tonnes being waved off on the MV Merwedegracht departing for off-take partner Jinchuan in Hong Kong.

The shipment should earn Panoramic $US14.8 million ($20.4 million).

Panoramic managing director and chief executive officer Victor Rajasooriar said the shipping operation exceeded his expectations.

“The loading of the ship was carried out efficiently and CGL did a fantastic job in executing the works safely during a very busy festive period,” Rajasooriar said.

“It is pleasing to see the final piece of the puzzle coming together to bring the revenue stream into operations.”

The second shipment is planned for February 2022, once the MV Maasgracht arrives in Wyndham Port in mid-February.

Rajasooriar said 2022 looked very promising for Panoramic as it backed several economically strong metals.

“With nickel, copper and cobalt prices strengthening, and forecast to remain buoyant into 2022, we look forward to more successful shipments in 2022,” he said.

Roughly 50 tonnes of concentrate was left at Wyndham Port, to be included in the February shipment.

This and all other haulage and shiploading duties will be carried out by CGL for the next three years, after a contract was awarded in September.

CGL has been contracted to load concentrate into trailers on site, transport it by road to Wyndham and discharge the concentrate into the Wyndham shed.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.