Aluminum Copper Lead

MCC Ruimu New Energy restarts drilling program of nickel-cobalt project

On August 10, MCC Ruimu New Energy formally commenced drilling program of its nickel-cobalt project, indicating that the project restarted exploration which has been shelved for two and half years as a result of the COVID-19.

At the later stage of its mining life, the Ruimu nickel-cobalt project now witnesses worsening geological endowment and dropping ore grades on a yearly basis with nickel grade down from 1.01% to 0.9%, so its nickel production is likely to decrease year by year. Moreover, as transportation distance in mining process extends on a yearly basis, mining costs keep growing, making it an urgent need for the company to expand exploration area and improve exploration quality so as to ensure high and steady production.