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Lygend Resources' Indonesia Project Starts Commercial Operation; Shares Jump 5%

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Lygend Resources & Technology (HKG:2245) said all production lines at the KPS project, the second phase of its RKEF ferronickel project in Indonesia, commenced commercial operation in May, according to a Thursday Hong Kong bourse filing.

The KPS project comprises 12 production lines with a designed annual capacity of 185,000 metal tons of ferronickel.

The startup means all production lines at the company's Obi Island project are now fully operational, giving Lygend a total annual nickel production capacity of 400,000 metal tons.

Shares of the nickel company gained over 5% in Friday morning trade.

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