Pacific Metals raised its nickel production projections by 1pc for the remainder of the fiscal year 2022 (April 1, 2021, to March 31, 2022).
In its most recent forecast, the company raised its expectations to 25,010mt of nickel from the 24,822mt it had planned to produce in its previous report, published on May 11.
Pacific Metals has adjusted its production expectations for H1 in the fiscal year 2022 with a 3pc drop, to 11,469mt from the previous 11,765mt estimate. Although it expects a 4pc recovery for the October 2021-March 2022 period, from 13,057mt to 13,541mt.
Pacific Metals’ sales forecast for this fiscal year is 4pc higher than last May, up 26,000mt from 25,000mt.
Forecasts for the remainder of the first half (April-September) are 12pc higher, up 13,047mt from 11,600mt in the previous report. On the contrary, the Japanese company expects a 3pc drop in its shipments for H2, down to 12,953mt from 13,400mt predicted in the last report.
The company also corrected by 8.4pc its sales expectations for the fiscal year ending March 31, 2022, to JPY46.6bn ($422mn) from the JPY42.9bn forecast in last May’s report.