SM:European Nickel confirms first shipment from DMCI's Santa Cruz port
StockMarketWire.com - The first shipment of nickel laterite ore was loaded and shipped from DMCI's Santa Cruz port on the 'Ken Wave' on 30 June, European Nickel said today (7 July).
The total shipment was 51,509 tonnes, of which 26,524 tonnes was from Acoje with the remainder being stockpiled ore from another DMCI operation.
The 'Rui Ning 5' arrived at port on 1 July and is currently loading of a further split shipment of which approximately 22,900 tonnes is ore from Acoje.
European Nickel says DSO operations have been slow due to recent extreme weather conditions.
The 'Ken Wave' was unable to load any ore for a period of eight days while Typhoon Falcon remained in a stationary position over the northern Philippines.
As the weather clears normal operations will be able to resume.
DMCI undertakes all the financial risk, operations and marketing associated with the mining and sale of the nickel laterite ore and pays ENK a royalty fee on each shipment made. The fee is dependent upon the nickel grade and the prevailing nickel price.
