Mining
NICKEL ORE MINE
LIMESTONE MINING
Emental Asia S.A., initially operating under the name Prime Minerals S.A. since 2014 has invested in Indonesia in projects related to the extraction and processing of natural resources, i.e. nickel ore and limestone aggregate.
The strategic goal of Prime Minerals S.A. was building a capital group managing assets in the area of extraction and processing of natural resources.
The company intended to implement its strategy by:
- Searching for attractive concessions for the exploration of loads
- Performing comprehensive research on the resources of these licenses and developing a feasibility study
- Acquisitions of entities possessing valuable concessions
- Conducting mining projects indicating the greatest potential
- Construction of mineral processing plants
Proven nickel ore resources
| Ni[%] | Measured | Indicated | Inferred | TOTAL | |||
|---|---|---|---|---|---|---|---|
| tones | Ni% | tones | Ni% | tones | Ni% | tones | |
| 0,5 ‑ 1,0 | 777,703 | 0,79 | 615,384 | 0,74 | 84 192,50 | 0,86 | 1 477,280 |
| 1,0 ‑ 1,5 | 820,313 | 1,22 | 419,541 | 1,2 | 372 829,50 | 1,26 | 1 612,68 |
| 1,5 ‑ 2,0 | 162,375 | 1,66 | 74,327 | 1,66 | 1 774,00 | 1,74 | 2 010,75 |
| 2,0 ‑ 2,5 | 4,65 | 2,12 | 2 550 | 2,08 | 1 180,43 | 2,22 | 1 187,64 |
| 1 765,041 | 1 111,85 | 3 411,45 | 6 288,34 | ||||
Proven limestone resources:
- Eastern unit: 7 902 000 ton; av. CaO 54,54%
- Western unit: 3589 000 ton; av. CaO 54,46%
- Southern unit 972 000 ton; av. CaO 54,02%
- Total: 12 463 000 Mt
- SG: 2,4 gr/cm3
- CoG: CaO ≥ 53%
At the turn of the third and fourth quarter of 2019, the management board and the company's supervisory board decided to freeze both mine projects. This decision was made due to the following circumstances:
- In January 2014, a ban on the export of unprocessed nickel ore was introduced. The ban was not complete, leaving export opportunities for selected entities.
- In September 2019, the ordinance of the minister announced the introduction of a total ban on the export of unprocessed nickel ore coming into force from January 2020.
- Nickel ore prices on the Indonesian market account for around 35-40% of the nickel ore prices on the international market and are often close to mining costs.
Therefore, at the end of 2019 it was decided to change the company's business profile to the one associated with the recycling of precious metals from printed circuits boards and automotive catalysts. The company under the new name Elemental Asia, with the new management will operate in Asian markets in the above mentioned area.
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