Page 85 - pd296-August21-mag-web

“Coal-fired power is he said.
almost like a starter pack “It is not that easy because there’s many
for a developing nation, steps in nickel concentrate to get to that
but Tsingshan recognise point…but if you can get your company in
where the market is going that logistical chain and you can demon-
and they’ve made a lot of strate it through commercial terms, then
noise and commitments absolutely it is something you should be
now about building solar, looking at.”
hydro and renewable en- Mincor recently opened the Cassini mine
ergy power. It’s not going near Kambalda. It was the first greenfields
to happen overnight, but nickel discovery to be put into production in
I think in 2-3 years you more than a decade.
will see Nickel Mines po- Southam pointed to the ongoing suc-
tentially being able to say cess of Chalice Mining Ltd in the capital
‘we’re now drawing 40%, markets following its Julimar discovery last
50% or 60% of our power year as evidence good discoveries are
Kathleen Bozanic
from renewable energy’.” thoroughly rewarded when companies are
The ESG thematic prepared to spend money on exploration,
is underpinning IGO’s particularly in areas where nickel is known
the downstream processing industry. transformation into a clean energy metals to be prevalent.
“The IMIP and the IWIP [Indonesian company. Bozanic said managing the ex- “Kambalda is where most of the nickel is
Weda Bay Industrial Park] have really pectations of all stakeholders was currently coming from in Australia and yet only $12
captured everything the Indonesian Gov- one of the biggest challenges in front of the million was invested in greenfields explora-
ernment wanted to achieve. It’s brought group which operates
foreign investment to the country, it’s cre- the Nova nickel mine
ated jobs and it’s created this vibrant down- and recently purchased
stream processing industry. Nickel matte is a stake in the Green-
just another step forward for Nickel Mines bushes lithium operation
down that path.” and the associated Kwi-
Peacock was joined on the panel of nana lithium hydroxide
nickel experts by Western Areas Ltd man- refinery.
aging director Dan Lougher, IGO Ltd non- “I think the expecta-
executive director Kathleen Bozanic and tions are changing every
Mincor Resources NL managing director day and you can see it
David Southam. A range of topics were in the legislation coming
discussed, including end-user markets, fi- in,” she said. “The com-
nancing options and the potential rewards munity and everybody
for making a major discovery. has got a focus on this
On the subject of ESG, Peacock pointed and that’s very different,
to the different requirements and expecta- in my mind, to the Gov-
tions for companies based overseas com- ernment’s requirements
pared to those operating in Australia such around it.
as Western Areas, IGO and Mincor. In par- “If we want to be able David Southam
ticular, he referred to Indonesia’s reliance to raise capital, if we want
on coal power and why the country was not to be able to invest, if we
yet ready to embrace a transition to renew- want to be able to have a seat at the table tion in the 20 years since Western Mining
able forms of energy. and maintain that premium around being sold that ground,” Southam said.
“I think what people are coming to un- clean energy and all the rest of it, we actu- “The opportunity is there if you can make
derstand, is that western economies have ally need to be listening and get ahead of a discovery. [Chalice] has shown how
had the benefit of coal-fired power for 100 the curve on it.” much capital is there and how much lever-
years to develop our economies to where Western Areas has for some time sup- age you can get in the market if you find
they are today,” Peacock said. “If you took plied concentrate from its Forrestania nick- something. And look at their neighbours
coal-fired power out of Indonesia, they el operations to the likes of BHP Ltd and in Caspin [Resources Ltd], they’ve taken
would be nowhere. Jinchuan, China’s largest nickel cathode off on soil geochemistry, so it doesn’t take
“There’s ‘E’, there’s ‘S’ and there’s ‘G’ producer. With current offtake arrange- much. The market is open for discoveries if
and what a lot of people are focusing on is ments due to expire in the next 18 months, you’re prepared to look and spend the cash
the ‘E’, but there’s also the ‘S’ and there’s the company could look to strike fresh to find something.”
been massive social benefits to Indonesia deals with parties directly involved in bat-
by what Tsingshan have done there. The tery manufacturing. – Michael Washbourne
level of affluence that is now spreading out Lougher said it would be foolish not to
in Morowali…six or seven years ago it was consider such options.
a remote fishing village and subsistence “If you can see your product going into
living. Every time you go there now, you the end game and you link yourself to a Watch the full replay on Paydirt TV
see the level of affluence just spreading particular party that is doing the EV precur-
out from the park. sor stuff, then I think you’re on a winner,”

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