NewConnect-listed, Prime Minerals is hoping to start production of nickle in Indonesia next year, the company told ISBnews.
Prime Minerals invests in projects related to the extraction and processing of raw materials. Currently the company is implementing a nickel ore and limestone open pit mine building project in Indonesia through its subsidiaries. The company predicts that it will be granted extraction permission at the turn of 2015 and 2016 and start mining next year.
Prime Minerals is planning to spend $7-8 million for investments related to the project in Indonesia. In order to raise the required funds, it is going to launch an offer to institutional investors.