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Sconi powers up and goes in search of new riches

Australian Mines will start a search for more nickel and cobalt reserves at its $US1 billion ($A1.36 billion) Sconi nickel and cobalt project in north Queensland.

Apr 22, 2022, updated Apr 22, 2022
The Sconi project would supply the electric vehicle market

The Sconi project would supply the electric vehicle market

Australian Mines has 14 new targets to look for mineralisation.

Sconi is expected to come online in 2024 and would “meet surging demand through the supply of its high-quality battery-grade nickel and cobalt materials”.

Australian Mines has previously struck a deal with LG Energy Solution, the world’s largest producer of advanced batteries for the electric vehicle industry, for 1000 dry metric tonnes of nickel and 7000 dry metric tonnes of cobalt in the form of a mixed nickel-cobalt hydroxide precipitate.

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Financing discussions for the Sconi Project were progressing and an agreement is expected on or before 30 June 2022.

“The additional exploration activities being undertaken at Sconi may result in an upward revision of the project’s mineral resource estimates and the project life span with the potential to enhance the longer term commercial potential at Sconi,” the company said.

 

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