Results Out
Outlook
The continuing process of development and urbanisation in the Asian and South American economies and notably the BRIC countries (Brazil, Russia, India and China), are likely to lead to steady annual increases in the demand for stainless steel, to the manufacture of which two-thirds of nickel production is devoted. The long-term prospects for our key commodity remain strong.
We consider that our Mambare nickel asset is of a scale and grade that make it potentially world-class. We believe that the Direct Nickel processing technology for lateritic nickels is a disruptive technology that will change the nickel mining industry. We intend to be leaders in that change.
We expect to see our drilling at Mambare lead to the definition of a Mineral Resource under the JORC standard early in 2012 and to see Direct Nickel's pilot plant operate successfully and demonstrate that technology on the same timeframe.
These key developments, and the expected start of trading in Direct Nickel Ltd shares on the Australian Stock Exchange, will, we hope, underpin a year of expected strong progress. We expect to look back in a year's time and describe this year as one that was transformative in the history of the company.
Our aim is to build on the success of our associate Red Rock Resources plc in the iron ore field and the company's presence in nickel and nickel technology to build a strong and diversified mineral group.
Andrew Bell
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