- Nickel 28 Capital (TSXV:NKL) has returned to full production levels at its Ramu Mine after an earthquake earlier this month
- The Ramu Mine’s Basumuk high pressure acid leach (HPAL) plant had been offline since a magnitude of 6.7 earthquake struck on Oct. 7
- The event temporarily disrupted operations, but the company reported there were no injuries or significant environmental impacts associated with the earthquake
- Nickel 28 Capital Corp. last traded at 0.91 per share
Nickel 28 Capital (TSXV:NKL) has returned to full production levels at its Ramu Mine after an earthquake earlier this month in Papua New Guinea.
The Ramu Mine’s Basumuk high pressure acid leach (HPAL) plant had been offline since a magnitude 6.7 earthquake struck on Oct. 7, which triggered safety protocols and an evaluation of the site’s infrastructure.
The event temporarily disrupted operations, but the company reported there were no injuries or significant environmental impacts associated with the earthquake.
The company is also not anticipating any material impact on production and is still guiding for annual production levels at Ramu of 33,000 metric tonnes (Mt) of contained nickel and 2,900 Mt of contained cobalt in calendar 2023.
Ramu is operated by the Metallurgical Corporation of China (MCC), who helped guide the recovery process after the earthquake.
Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56 per cent joint-venture interest in the Ramu Nickel-Cobalt Operation in Papua New Guinea. The company also manages a portfolio of nickel and cobalt royalties on projects in Canada and Australia.
Nickel 28 Capital Corp. last traded at 0.91 per share.
Join the discussion: Find out what everybody’s saying about this stock on the Nickel 28 Capital Corp. Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.