The West Australian reported that at a WA Mining Club lunch yesterday, David Moore, founder of Mincor Resources NL (ASX:MCR), said it could take up to five years for nickel smelters to be built in Indonesia.
As quoted in the market news:
‘Firstly, it can only start happening once people are convinced the ban will stay in place – you don’t want to be half way through a billion-dollar construction to find you’ve lost your market.
‘Very little has actually started and the numbers I’m hearing is three years and $2.5 billion to build a 100,000tpa smelter.
‘But they don’t even know really what the costs are going to be. It’s quite difficult and it’s hard to see the smelter capacity currently in China replicated in Indonesia in three years – maybe it’ll take five years.’