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Article: Brazil: Mineradora Onca Puma announces US$1bil investments in nickel extraction.
- Article from:
- South American Business Information
- Article date:
- September 14, 2004
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Brazil, Sep 12, 2004 (O Estado de Sao Paulo/SABI via COMTEX)
The mining company Mineradora Onca Puma, from the Canadian Canico Resources is implementing the largest nickel extraction project of Brazil. The investments announced in the Puma and Once reserves amount to US$1bil - US$550mil until the mid of 2007 when is expected the start up of the first processing line and the remaining by 2010 with the implementation of the second line. Between 2001 until the present time the company has already invested USS$50mil - US$9mil in drilling works. The reserves of Puma and Onca are estimated at 104mil m tons - with an average nickel content of 2.15% - one of the largest ...