Underground Mining Commences at Savannah Nickel Project
Panoramic Resources Limited announced that underground development and ore production has commenced ahead of schedule at the Savannah Nickel Project in Western Australia. Mining activities are being conducted by leading underground mining contractor Barminco, a subsidiary of Perenti Global Limited, with which the Company has executed a four year contract worth approximately AUD 280 million.
As announced on 6 April 2021, the Company was initially planning to commence mining in August 2021. However, with new equipment arriving on site earlier than planned and the recruitment of both technical staff and underground operators having progressed seamlessly, underground operations have commenced ahead of schedule and in accordance with the terms of the Letter of Intent. Both development and production activities are currently underway, with additional equipment and people coming into the operation as the project ramps up.
Ore processing is scheduled to begin in November 2021 with first concentrate shipment from Savannah targeted for the following month.