Drilling on site at the Kolosori Nickel Project. Source: Pacific Nickel Mines.
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  • Pacific Nickel Mines (PNM) receives development consent for the Kolosori Nickel Project in the Solomon Islands
  • The approval was received by the Environment and Conservation Division of the Solomon Islands Ministry of Environment
  • This consent is a key step towards the granting of a mining lease for the project, expected early next year
  • On the market this afternoon, Pacific Nickel is up 2.5 per cent and trading at 8.2 cents per share

Pacific Nickel Mines (PNM) has received development consent for the Kolosori Nickel Project in the Solomon Islands.

The approval was received by the Environment and Conservation Division of the Solomon Islands Ministry of Environment.

This consent is a key step towards the granting of a mining lease for the project. With this approval Pacific Nickel believes it is on track to recieve the mining lease early next year.

Pacific Nickel received the approval after a workshop and consultation with a number of government department, stakeholders and landowners.

Kolosori is located on the Isabel Island and is expected to generate strong financial returns while also delivering significant and economic benefits to the landowners.

Pacific Nickel owns 80 per cent of Kolosori, while the landowners own the remaining 20 per cent.

Commenting on the consent is CEO Geoff Hiller.

“Receiving the development consent is a positive endorsement from the government for the development of the Kolosori Project,” he said.

“We are now focused on the granting of the mining lease while we complete the definitive study feasibility. We remain committed to fast tracking the project, which is expected to benefit all stakeholders.”

On the market this afternoon, Pacific Nickel was up 2.5 per cent and is trading at 8.2 cents per share at 4:04 pm AEDT.

PNM by the numbers
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