Rusina Mining has rejected claims that the direct shipping market for nickel laterite ores has closed and denies claims that it will not be shipping nickel laterite ores this quarter.

The company will transport higher grade nickel laterite material from its Acoje project in the Philippines to the port through its partner DMCI Holdings and remains on schedule to make its first shipment.

There continues to be buyers for higher grade nickel laterite, though grades lower than this are difficult to sell as a result of traders accumulating a large stockpile of low grade material in China.

The nickel 'pig-iron' market is erratic, with decreased demand from stainless steel producers for lower grade 'pig-iron' now that the nickel price has fallen. There remains a demand for higher grade laterites used for producing higher grade 'pig-iron' and ferronickel.

DMCI has obtained the requisite permits and licences to construct and operate their port in Santa Cruz and construction of the temporary loading facility has started. Once this is complete, and inspected by the transhipping contractor, a shipping date and firm sale contract may then be set.