Comet project to expand

Comet Resources NL plans to expand output from its Ravens-thorpe nickel project by 40 per cent, increasing capital development costs to $870 million.

Following a bankable feasibility, the company has completed an intensive program to optimise project economics, boosting proposed nickel production from the project to 35,000 tonnes per annum.

Comet managing director Peter Anderton said the expansion had significantly enhanced the technical strength and financial returns of the project.

“The increased size will allow the project to benefit from economies of scale, increased rates of return, lower operating costs per unit output of nickel and more efficient utilisation of infrastructure,” he said.

Comet holds 80 per cent and is manager of the project.