Palabora Nickel Project

In 2006 negotiations commenced with the Rio Tinto controlled Palabora Mining Company (PMC) for the installation and operation of a facility to recover high grade nickel sulphate from waste streams within the PMC copper refinery.

From its commissioning in February 2009, the state-of-the-art facility successfully produced high grade nickel sulphate utilising relatively new Ion Exchange Carousel technology.

Following negotiations with PMC in late 2010 an agreement was reached for the sale of the facility to PMC for Au$5.4M, whereby PMC took over ownership and operational responsibility for the facility.  Mr Tony Lennox, PMC’s Managing Director at the time expressed his appreciation to Metals Finance for the successful development, implementation and operation of the nickel sulphate facility.

The successful identification, development, implementation, operation and finally sale of the Palabora Nickel Sulphate Facility have been a key step towards the achievement of MFL’s goal of exploiting niche hydrometallurgical opportunities.

The proceedings from the sale have provided MFL with additional capital with which to pursue its global business plan.