Gladstone Pacific Nickel Limited - ACN 104 261 887 ("GPNL" or the "Company") - Environmental Approval for Gladstone Nickel Project



    TORONTO, Jan. 16 /CNW/ - The Queensland State Government has approved the
Environmental Impact Statement ("EIS") for construction and operation of
Stages 1 and 2 of the Company's Gladstone Nickel Project ("GNP").
    "This approval marks a significant milestone in the development of our
Project and is the product of three years dedication to a rigorous and
challenging environmental process" said Mr. John Downie CEO of the Company.
    The Queensland Governments Coordinator-General Colin Jensen said, "The
Gladstone Nickel Project has been subjected to a rigorous and technically
complex EIS. Gladstone Pacific Nickel spent three years working through the
EIS and addressing potential impacts of its proposed high-pressure acid leach
refinery."
    Mr. Downie went on to say, "Following the approval of the EIS by the
Queensland Government the Federal Government will assess the Project under
federal legislation concerning matters of national environmental significance.
The Company has been in regular consultation with the Federal Government in
relation to those matters and I believe that we will meet all Federal
requirements."
    In addition to complying with the strict requirements of its
environmental license the GNP will demonstrate environmental leadership
through its use of best practice air emissions and process water treatment
technology and the continued search for environmental synergies with alumina
producers in the region.
    As further evidence of the Company's environmental intentions, GPNL has
agreed to provide up to A$5 million at each stage of the Project to support
any project which can reduce sulphur dioxide levels in the Gladstone air shed
by 5,000-10,000 tonnes a year.
    GPNL will also establish the Gladstone Social Impact Mitigation Fund
("the Fund") to mitigate potential impacts of the GNP on the community during
the Project construction and operational phases. Following an initial outlay
of A$9 million over the 3 years of construction activity to establish the
Fund, the Company has agreed to further annual contributions of A$500,000 in
each year that the nickel plant meets profitability targets.
    "GPNL has demonstrated its industry leadership and commitment to the
Gladstone community with the development of the Social Impact Mitigation Fund.
We hope, and would encourage, other Gladstone industry participants to
contribute to the Fund so that industry can assist in mitigating its social
impacts in the region" said Mr. Downie.
    Stage 1 of the GNP, in the Yarwun Precinct of the Gladstone State
Development Area (GSDA), will have the capacity to produce 63,000 tonnes of
nickel, 6,000 tonnes of cobalt and around 175,000 tonnes of ammonium sulphate
a year, with production likely to commence late in 2012.
    The Project is expected to create up to 2,600 construction jobs for stage
1 (2,000 of which will be in Gladstone) and 1,750 for the second stage. Around
530 Gladstone-based operational jobs will be created when production starts,
with additional employees being required at the GNP's laterite mines at
Marlborough and Ouinné in New Caledonia.





For further information:

For further information: John Downie, CEO - Gladstone Pacific Nickel
Ltd, Tel: +61 (0) 7 3231 7100; Fiona Owen - Grant Thornton UK LLP, Tel: +44
207 383 5100; John Prior - Arbuthnot Securities, Tel: +44 207 012 2000; Email:
info@gladstonepacific.com.au

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Gladstone Pacific Nickel Ltd.

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