Silkroad Nickel obtains key approval, expects export quota by end-June

INDONESIA nickel miner Silkroad Nickel says it has obtained all the approvals necessary to get an export quota by end-June.

The latest milestone was obtained on April 8, when it received environmental approval for the construction of a nickel smelter and supporting facilities at its mine site in Sulawesi, Indonesia.

The Central Sulawesi's Provincial Environmental Assessment Committee has now confirmed that the environmental feasibility requirements of the mining activities and construction of the smelter have been fulfilled, though this is subject to the Central Sulawesi's governor's decree on environmental feasibility and permits. 

Hong Kah Ing, executive director and CEO of Silkroad Nickel, said: "We are pleased to receive the approval from the Provincial Environmental Assessment Committee. This is an important milestone for the company as we believe that we have now received all the necessary approvals, and have satisfied all the necessary conditions for the grant of the export quota by the competent authorities in Indonesia... barring any unforeseen circumstances, we expect to receive the export quota from the competent authorities by the end of June 2019."

Shares in Silkroad Nickel last traded unchanged at S$0.36 on April 8.