OUR BUSINESS
AQUILA PROJECT, INDONESIA
Aquila Nickel is a nickel and cobalt project, an expansion of a brownfield nickel mine, focused on constructing a large, top-tier nickel ESG-oriented producer in Indonesia. The project’s primary sources of ore material will be Solways-held mining IUP licenses: PT Bumi Konawe Utara (Asera), PT Sulawesi Resources (Bahomoahi) and PT Bumi Inti Sulawesi (Sorawolio).
Solway acquired the holding company’s exploration licenses in 2007 and 2012. Since 2022, Solway has completed a definitive feasibility study. In 2022, the group obtained all the necessary permits required to proceed to the project’s next s, including AMDAL and an Industrial permit for a processing facility. In 2022 Solway has also signed and SPA for 200 MWa power supply from PLN with the option to obtain up to 100% power from renewable energy sources.
The Aquila project seeks to unlock the potential of these promising nickel and cobalt ore reserves. The project aims to integrate downstream facilities, develop new, state-of-the-art processing technologies, and complete the design for and construction of a world-class ferronickel smelting and hydrometallurgical processing facility. The ultimate goal is to export value-added nickel and cobalt products, for which we expect global demand to grow in the future.
Asera | PT Bumi Konawe Minerina | BKM
Solway launched its first Indonesian operation in early 2011 with the direct export of nickel ore from the Asera deposit. The Asera deposit is located on the coast of Sulawesi Island, Indonesia. Ore is mined from the Asera deposit using open pits. The mining operations are supported by several ore storage areas, one jetty for loading the ore onto ships, access roads and other supplementary infrastructure.
According to the latest JORC statement, the Asera deposit has an estimated resource base of over 16 million metric tons of nickel ore with an average nickel grade of 1.5%.
Bahomoahi | PT Sulawesi Resources | SR
The Bahoomahi deposit is located in a mountainous region of Sulawesi Island. The closest seaport is 27 kilometres from the mining site. All required basic infrastructure is available on site. Automated diesel generators provide power, and mined ore will be delivered to the seaport by trucks.
According to Solway’s internal estimates, the Bahomoahi deposit has an estimated resource base of 14 million metric tons, with the potential for an additional 13 million metric tons of nickel ore at an average nickel grade of 1.9%. The Group estimates this deposit to have a potential production capacity of 100,000 metric tons of nickel ore per month.
Sorowalio | PT Bumi Inti Sulawesi | BIS
Solway acquired the rights to the Sorowalio deposit in 2009. The Sorowalio deposit is located inland on Buton Island. The closest seaport is 15-20 kilometres from the mining site. The mining operations use open pits and the site includes several ore storage areas, access roads, and other supplementary infrastructure. Automated diesel generators provide power, while trucks will deliver mined ore to the seaport.
According to Solway’s internal estimates, the Sorowalio deposit has an estimated resource base of 6.6 million metric tons of nickel ore with an average nickel grade of 2.0%. All necessary permits are in place for a full-scale mining site development. In January 2015, due to a change in licensing, the territory of the resource base was revised as follows: 7.7 million metric tons of nickel ore with an average nickel grade of 1.94%, and 810,000 metric tons with an average nickel grade of 1.8%.
Outlook
Due to the increasing demand for nickel ore in the local market and the global expansion of the electric vehicle sector, there is a limited long-term supply of these essential materials. Solway, with over a decade of operations in Indonesia, aims to capitalize on this opportunity. The group plans to leverage its experienced team, available mine IUP, strategically located processing facility, and the available option for a renewable power supply. By developing the Aquila Nickel project, Solway aims to create highly profitable mining and processing assets that adhere to European ESG standards.
