Asset Report
Tati closed nickel operation
Report summary
In 1985 Francistown Mining and Exploration Ltd was formed to develop the Phoenix and Selkirk nickel and copper sulphide deposits, situated within 15 km of each other. Following completion of a successful feasibility study to develop Selkirk, Tati Nickel was formed in 1988. The Selkirk mine commenced operation in 1989 at a cost of $4 million. The Phoenix mine and plant commenced production in May 1995 at a cost of $13 million. In April 2015 Norilsk announced the completion of the sale transaction of its 85% stake in Tati Nickel to BCL Limited. BCL did not reengage the mining contractor at the end of 2015 and we believe, although have been unable to confirm that mining is currently halted. In the accompanying analysis Wood Mackenzie has assumed minimal production from Tati at the beginning of 2016. We expect that mine must have been operating at a significant loss in late 2015 and early 2016 and was vulnerable to closure. We have assumed this occurred in the first half of 2016.
Table of contents
- Mining
- Process
Tables and charts
This report includes 5 images and tables including:
- Cashflow
What's included
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