R/€ = 19.64 Change: 0.00
R/$ = 17.63 Change: -0.01
Au 1626.15 $/oz Change: 4.67
Pt 737.50 $/oz Change: -10.05
 
 
R/€ = 19.64 Change: 0.00
R/$ = 17.63 Change: -0.01
Au 1626.15 $/oz Change: 4.67
Pt 737.50 $/oz Change: -10.05
 
 
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Poseidon to restart Black Swan

6th September 2019 BY: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Higher nickel prices has prompted ASX-listed Poseidon Nickel to take the decision to restart its Black Swan operations, in Western Australia.

The Poseidon board has approved an accelerated programme of work which will include the rehabilitation of mine escape ladderways at the Silver Swan mine, the rehabilitation of all access ways and structures at the Black Swan plant, and the dewatering of the Black Swan openpit mine.

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The restart is expected to cost some A$2.9-million, with the work to be completed over the coming months to provide the basis for a rapid restart.

The capital expenditure and rehabilitation work at the processing plant will run concurrently with metallurgical testing and optimal processing improvements that are also continuing.

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“We are now entering an important and critical time for Poseidon aided with tailwinds from improving, sustained increased nickel prices,” said Poseidon interim CEO David Riekie.

He noted that Poseidon had been working to de-risk and improving the bases for a positive restart decision, including conduction drilling at the Silver Swan mine and at the Black Swan openpit.

“Lower operating cost structures and ongoing cost savings together with optimsiation processes have been our recent focus. These priorities have been designed to ensure that the largest portion of any benefit achieved with increasing nickel prices translates to an improved overall stakeholder return.” 

EDITED BY: Creamer Media Reporter
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