Bareksa.com - Mining company Cakra Mineral has set aside capital expenditure of $15 million to $20 million to develop a ferronickel smelter in Sulawesi. Dexter Sjarif Putra, a director at Cakra Mineral, said the smelter development is set to begin in Kolawe, North Sulawesi, in the third quarter this year.

“The initial capacity for the smelter will be 36,000 metric tons of ferronickel,” he said on The Jakarta Globe, adding commercial production is expected to begin in 2016.

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