Gladstone Pacific Nickel
Gladstone Pacific Nickel (LON: GPN) is a dynamic publicly-listed, Australian mining development company, which is establishing a US$3.65 billion long-life, nickel and cobalt refinery at the Gladstone State Development Area in Central Queensland, Australia.
GPN is planning to build the refinery at the deepwater Port of Gladstone, treating high-grade nickel laterite ores from New Caledonia and other south-west Pacific Islands, underpinned by beneficiated ores from its own Marlborough deposits. GPN is listed on the Alternative Investment Market (AIM) of the London Stock Exchange and was previously listed on the Toronto Stock Exchange.
Gladstone Pacific soars after Australian govt approves nickel project impact study
Thursday, May 07, 2009
Shares in Gladstone Pacific Nickel Ltd (AIM: GPN) soared after news that the Australian federal government has approved the environmental impact study for the group’s planned nickel and cobalt refinery at the deepwater port in Gladstone, Queensland state.
The stock was 45 percent higher in early afternoon trade, off an earlier high of 50 percent it reached after the company reported that the federal government endorsed the already granted state government’s approval on a national level and that Gladstone Pacific can now focus on securing funding for the project.
Stage 1 of the US$3.65 billion Gladstone Nickel Project (GNP), in the Yarwun precinct of the Gladstone State Development Area, will have the capacity to produce 63,000 tonnes of nickel, 6,000 tonnes of cobalt and around 175,000 tonnes of ammonium sulphate a year, with production likely to commence late in 2012.
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