<article>Silkroad Nickel Ltd, formerly known as China Bearing (Singapore) Ltd., is set to be first nickel mining company to be listed on the Singapore Exchange as it expects to make its trading debut today.</article>

Silkroad Nickel Ltd, formerly known as China Bearing (Singapore) Ltd., is set to be first nickel mining company to be listed on the Singapore Exchange as it expects to make its trading debut today.
According to an official release, the company had transferred its listing from the Main Board to the Catalist board of the SGX-ST on 29 June 2018, following completion of the reverse takeover of the company by FE Resources Pte. 
Ltd.
Silkroad Nickel is principally engaged in the exploration, mining, production and sale of nickel ore. It has been granted a Production Operations permit (IUP1) to conduct nickel mining operations at a Mining Concession Area of approximately 1,301 ha located in Morowali, Sulawesi Tengah, Indonesia. The Production Operations IUP is valid for an initial term of 20 years, commencing 5 May 2009, and extendable for up to two additional 10-year tenures.
Mr Hong Kah Ing, Chief Executive Officer &amp; Executive Director of Silkroad Nickel commented: “We aim to generate sustainable returns to our shareholders by progressively ramping up our production capacity with investments in equipment, infrastructure and people, with the addition of eventual export sales of our nickel ore. We plan to explore the remaining area of our Mining Concession Area so as to map out the next phases of growth and to identify new concession areas for future acquisitions.”
Silkroad currently engages third-party contractors to undertake the necessary mining and production activities such as the stripping of overburden, excavation, transportation and stockpiling of the nickel ore as well as the maintenance of hauling roads within the mining concession area.
Since the re-commencement of nickel ore mining operations in July 2015, the company has sold its nickel ore domestically, and claims to have achieved an aggregate sales volume of 312,549 wmt in FY2017.
In order to diversify its customer base beyond the domestic Indonesian market, it has applied to the Ministry of Energy and Mineral Resources to commence the application process for the Export Quota to sell and export low low-gradekel ore to international customers.

Silkroad Nickel Ltd is set to be first nickel mining company to be listed on the Singapore Exchange as it expects to make its trading debut today.

Silkroad Nickel to be first nickel mining company to list in Singapore

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Silkroad Nickel to be first nickel mining company to list in Singapore

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