China Nonferrous Metal Group starts nickel project in Burma

China Nonferrous Metal Group starts nickel project in Burma

Comtex News Network

29th June 2007

Sources from China Nonferrous Metal Mining (Group) Co., Ltd. (CNMC) say the company has gained regulatory approval to start constructing its nickel project in Burma with the financial support from the Export-Import Bank of China and China Development Bank.

The project, to cost nearly USD 600 million, is the largest one in the history of China and Burma's cooperation on developing the mining industry. It is designed to be capable of producing 85,000 tons of ferronickel upon completion. Canadian-based Hatch and China Nonferrous Engineering and Research Institute will jointly design the project.

Luo Tao, president of CNMC, remarked during its latest visit to the Asia-Pacific headquarters of Hatch in Brisbane of Australia with a delegation that his group has sent task force to Burma to negotiate about concerned matters for 3 times. The national governments of China and Burma highly paid attention to his company and its project and will give further support.

Hatch will be responsible for analyzing the production cost of ferronickel with the same technics worldwide. The two also discussed relevant technologic issues such as electric power and coal consumption of the project.