Dayaindo starts ore sales from C. Sulawesi mine

IDX-listed firm PT Dayaindo Resources International Tbk has started sales of nickel ore from its Central Sulawesi mine in October with Chinese buyers as offtakers.

The company said in a presentation filed with the IDX that it sold 51.000 wmt of ore to Chuan Qian Trading Co. Ltd , Hong Kong and 10 x 50,000 wmt to Yinyi Group, China.

The company operates the mine through subsidiary PT. Anugerah Tompira Nikel (ATN).

According to the company, ATN, which has concession of over 2,200 hectares in Banggai regency, has proven reserves of 30 million tonnes of ore and production capacity of 100,000 tonnes of ore per month, with average nickel grade of 1.6 percent.

The company also said that it was in the process of expanding nickel ore portfolio by conducting due diligence on two mines in Central Sulawesi and Halmahera, North Maluku.

Apart from nickel, the company also operates coal mines in Kalimantan,(alex)