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Article: CVRD invests $66M in Sudbury.(NEWS)
- Article from:
- Northern Ontario Business
- Article date:
- November 1, 2007
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CVRD has approved "the largest investment program ever undertaken ... by any mining company in the world," but 80 percent the money earmarked for 2008 will be spent in Brazil and New Caledonia.
Of the $11 billion the company plans to invest next year, $7.5 billion will be spent on new projects and $2.5 billion on support for existing operations.
Of the $7.5 billion, $66 million will be allocated for Totten Mine, west of Sudbury.
The Goro project in New Caledonia, touted as "one of the largest deposits of lateritic nickel in the world," will account for $723 million of spending in 2008. Two other lateritic deposits in Brazil--Onca Puma and ...