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CVRD makes C$725-million bid for Canadian nickel producer
- Article from:
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Mining Engineering
- Article date:
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November 1, 2005
- Author:
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Copyright informationCopyright Society for Mining, Metallurgy, and Exploration, Inc. Nov 2005. Provided by ProQuest LLC. (Hide copyright information)
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Cia Vale do Rio Doce (CVRD) made a C$725-million bid for Canico Resource, a Canadian nickel producer.
Canico's main asset is the Onca-Puma nickel laterite deposit in Para state, northeastern Brazil. CVRD. of Brazil, is the world's largest iron ore producer. However, the company is moving into the nickel business. Earlier this year, it gave the go-ahead to develop the Vermelho nickel laterite deposit, located in the Carajas region of Para.
Since that announcement, Canico had been suggested as a possible takeover over target by CVRD. Canico plans to develop the Onca-Puma deposit using conventional processing technology. CVRD said it would develop Vermelho using high-pressure, acid leaching to ...
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