Sumitomo acquires exploratory rights to nickel zones in Solomon Islands

Wednesday, 08 December 2010 17:13:13 (GMT+3)   |  
       

Japanese-based Sumitomo Group's mining subsidiary Sumitomo Metal Mining Co., Ltd has announced that on December 4 its local subsidiary in the Solomon Islands was selected in an international tender operation to acquire rights to explore for nickel in three mining districts in the archipelago's Isabel Province.

According to a Sumitomo release, the international tender, opened by the government of the Solomon Islands on July 23, concerned exploration for nickel deposits in the San Jorge, Takata and Jejevo zones within the province.

With the acquisition of exploratory rights, integrated development will now be possible with the areas already under exploration, the company said, adding that agreements will be concluded with the relevant landowners to secure access to their properties, and intense exploration will be pursued toward implementing feasibility studies.

Under its 2009 three-year business plan, SMM has set a long-range target of a nickel production structure of 150,000 mt per annum.


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