Sherritt International declares commercial production at Madagascar operation
TORONTO (miningweekly.com) – Nickel major Sherritt International this week announced that it had achieved commercial production at its Ambatovy nickel operations, in Madagascar.
Ambatovy, located on the island nation, is the largest finished nickel and finished cobalt operation from lateritic ore in the world.
"Bringing Ambatovy to commercial status is a key milestone in its development as a long-life, low-cost producer of finished nickel and finished cobalt," Sherritt president and CEO David Pathe said on Wednesday.
Commercial production was defined as attaining an average of 70% of the ore throughput of the nameplate capacity in the pressure acid leach circuit over a 30-day period and was the point at which all revenue and operating costs ceased to be capitalised.
Sherritt's share of earnings (losses) from Ambatovy would thus start to be recognised from February.
The focus at Ambatovy remained on optimising the operation’s operating performance to achieve nameplate capacity of 60 000 t/y of finished nickel and 5 600 t/y finished cobalt on a 100% basis.
The Ambatovy joint venture (JV) is a vertically integrated nickel and cobalt mining, processing, refining and marketing JV between subsidiaries of Sherritt (40% ownership), Sumitomo (27.5%), Korea Resources (27.5%), and SNC-Lavalin (5%). Sherritt is the operator of the facilities.
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