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Panoramic Resources (ASX:PAN) - Managing Director and CEO, Victor Rajasooriar
Managing Director and CEO, Victor Rajasooriar
Source: Kalgoorlie Miner
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  • Panoramic Resources (PAN) begins mining operations at its Savannah Nickel Project in Western Australia
  • Mining operations had been scheduled to resume in August bet began ahead of time following the rapid mobilisation of equipment
  • Barminco — a subsidiary of Perenti Global (PRN) — has been awarded a four-year underground mining contract worth $280 million
  • Ore processing is expected to begin in November, with the first shipments of concentrate targeted for the following month
  • Shares in Panoramic Resources are currently steady at $0.15 as of 10:45 am AEST

Junior miner and explorer Panoramic Resources (PAN) has begun mining operations at its Savannah Nickel Project in Western Australia.

The project was previously operated between 2004 and 2016 before being put on a care and maintenance schedule. It was then recommissioned in 2018 following the discovery of the Savannah North orebody, but suspended once again in 2020.

Since then, Panoramic has put together an updated Mine Plan and completed a ventilation shaft for the North deposit, with Board approval secured for a restart in early April this year.

Mining operations had been scheduled to resume in August, but with the rapid mobilisation of equipment pursuant to a four-year, $280 million underground mining contract with Barminco — a subsidiary of Perenti Global (PRN) — operations were able to begin ahead of time.

“Despite the challenging labour market conditions in Western Australia, we have been successful in mobilising a labour force of approximately 110 highly skilled underground employees. We expect this to increase to 170 as the project ramps-up,” said Mark Norwell, Managing Director and CEO of Perenti.

“Securing this labour force has enabled us to commence early works ahead of schedule.”

Ore processing is expected to begin in November, with the first shipments of concentrate targeted for the following month.

“The building of an ore stockpile on the surface has commenced and we look forward to achieving our targeted 100,000 tonnes on the surface prior to turning on the processing plant,” said Victor Rajasooriar, Managing Director and CEO of Panoramic.

“The project is now building strong momentum towards concentrate production at a time where favourable commodity market dynamics for nickel and copper are being experienced.”

Shares in Panoramic Resources are currently steady at $0.15 as of 10:45 am AEST.

PAN by the numbers
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