Panoramic extends nickel offtake deal

Panoramic Resources has secured a 10-year extension to its offtake agreement with Jinchuan Group and Sino Nickel for all of the nickel produced at the Savannah operation in the east Kimberley.

All parties have entered into a legally binding memorandum of understanding covering nickel, copper and cobalt concentrate at the project, with the extended offtake agreement to be on similar terms as the original agreement struck in 2003.

The extended offtake agreement will start on April 1 next year.

Concentrate from Savannah will continue to be shopping from Wyndham to Jinchaun's smelter in the Gansu province in northwest China.

Shares in Panoramic were down three cents to $2.47 at 14:00 AEDT.