FNI Completes Nickel Shipment to Indonesia

Platinum Group Metals Corp., the operating arm of Global Ferronickel Holdings Inc. (FNI) in Surigao, successfully made its first shipment for the year—bound for Indonesia—as the mining firm seeks to diversify its client base.

- By JASPER EMMANUEL ARCALAS

In a regulatory filing, FNI said the shipment was aboard M/V YUE DIAN 59 that left PGMC anchorage area last April 30.

The vessel carried 56,625 wet metric tons (WMT) of low-grade nickel ore with 1.25 nickel and iron content below 20 percent.

"This first shipment to Indonesia represents a key strategic move for FNI as we continue to strengthen our international market presence and diversify our client base," FNI president Dante Bravo said.

"China remains our biggest market but the demand from Indonesia has been growing significantly since the past year," Bravo added.