Next decade of nickel production outlined by Western Areas

NICKEL miner Western Areas has outlined a circa 20,000t per annum nickel in concentrate production future into early next decade.
Next decade of nickel production outlined by Western Areas Next decade of nickel production outlined by Western Areas Next decade of nickel production outlined by Western Areas Next decade of nickel production outlined by Western Areas Next decade of nickel production outlined by Western Areas

Western Areas will be producing about 20,000t per annum of nickel from mid-decade

The next five years will average around 16,000-17,000tpa, rising to an average slightly above 20,000tpa from fiscal year 2027-2031.

Guidance for this year is 16,000-17,000t at cash costs of A$4.25-4.65/lb.

Western Areas is spending $150-170 million on the key Odysseus development this year (and $55 million the following year), with first production from this asset due late next calendar year.

Last quarter the debt-free nickel miner generated $23 million in operating cashflow from its Forrestania operations.

As at June 30, cash at bank was $151 million.

Shares in Western Areas were up 2.5% to $2.58, capitalising it at $830 million.