UK firm gets 2 nickel stakes
May 26th, 2008
Filed under: Mineral - Gold, Mineral - Nickel, Operator - Philex
From: www.manilastandardtoday.com
European Nickel Plc, a producer of the metal that plans to supply BHP Billiton Ltd., said it will pay $48 million in cash and shares for interests in nickel projects in the Philippines.
The company will acquire a 19.3 percent stake in Toledo Mining Corp. and an 18.7 percent direct interest in Berong Nickel Corp., London-based European Nickel said yesterday in a statement. European Nickel will have an effective 29.5 percent stake in Berong since Toledo owns a 56 percent interest in Berong.
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