October 11, 2008

Positive feasibility study for Gladstone Pacific Nickel project

Australian junior Gladstone Pacific Nickel has announced a positive feasibility study for its proposed Gladstone nickel project.

Mr John Downie CEO of Gladstone Pacific said that they hope to have the plant up and running by 2011. He added that "We're in the process of getting a group to provide the balance of the detailed engineering work and of course, the funding that we need to get started on the project, within the next week or so we should be announcing a MoU that will put that in place."

Stage 1 of the project would comprise the construction of a plant at Gladstone, in Queensland, with capacity of just under 65,000 tonnes per year of refined nickel products and just over 6,000 tonnes per year of cobalt. A second stage could lift that nickel figure to 120,000 tonnes per year, making it one of the world’s largest nickel refineries.