Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Ramu’s nickel production in H1 2021 rose to 16,578mt of contained nickel which is 102pc of the mine’s nameplate capacity and an increase from 16,238mt produced in the prior year. 


The miner said that it not only met its production guidance for Q2 but also recorded the highest ever quarter of MHP sales amid rising nickel and cobalt prices. During the quarter, the miner’s nickel sales increased to 10,975mt of contained nickel, up 45pc from the prior-year period. Production during this timeframe increased by 2pc to 7,773mt.


The actual cash costs for the quarter rose to $2.83/lbs of nickel contained in MHP (net of by-product credits) amid higher costs for sulphur and labour, in addition, to planned production cuts in Q2 2021. In H1, cash costs were at $2.13/lbs of nickel compared to $2.11/lbs in the prior-year period.


The operational updates were released by Nickel 28 Capital, which holds 8.56pc joint-venture interest in the Ramu Nickel-Cobalt operation in Papua New Guinea. 

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