PMEA Blog

Adelaide, Mar 8, 2007 (ACN Newswire) - Australia’s Rusina Mining Limited (ASX: RML)(LSE: RML) is set to become a nickel producer within months under a financing and mining contract announced yesterday for part of its lucrative Acoje project in the Philippines.

The deal will see 5 million tonnes of Acoje’s surface nickel laterites mined over the next five years under a profit sharing, partnering contract signed with one of Manila’s most prominent and growth oriented contractors and developers, the listed DMCI Holdings group (PSE code: DMC).

Rusina (”RMLA”) will share 50:50 with DMCI in all net profits from the sale of the mined laterites at Acoje, a multi-layered mineral deposit hosting Chromite, Nickel and Platinum Group Metals (PGM).

The contract commits DMCI to be responsible for all funding, mining, grade control, rehabilitation, road and port development work, as well as the marketing and sales obligations, for the agreed 5 Mt ore parcel.
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