Release

Ferro Nickel Prime Export

Jul 04, 2017

FERRO NICKEL PRIME EXPORT

Jakarta, 4 July 2017, In order to comply with the Government’s Law No. 4 year 2009, concerning Mineral and Coal Mining on the downstream mineral resources, PT Central Omega Resources Tbk (“Company”) through its subsidiary, PT COR Industri Indonesia (“PT CORII”) has built a Ferro Nickel (FeNi) Smelter located in North Morowali District, Central Sulawesi.  In December 2016, the company's FeNi smelter construction project has entered the commissioning stage and continued with a production testing phase starting in March 2017.

Kurniadi Atmosasmito, Operation Director of the Company, explained that The Company through PT CORII has signed a FeNi Sale and Purchase Agreement with buyers from China, Macrolink Resources Development And Investment Co.Ltd., On June 23, 2017. In the agreement, both parties agree That PT CORII will sell 7,000 MT (+/- 10%) for export to Zhangjiagang, China.

FeNi loading process using barge to mother vessel, has been going on since  June 25, 2017 until July 3, 2017. The total amount of FeNi shipped is 7,038 Ton. The prime FeNi exports originated from PT CORII smelter got support from the local government of north morowali district and is expected to continue so that it can move the local economy and can can provide added value for its mining products.

Macrolink Resources Development And Investment Co. Ltd., Is a company incorporated in the Macrolink Business Group domiciled in China. Macrolink Group through one of its other subsidiaries, PT Macrolink Nickel Development, owns 40% of PT CORII shares.

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