Toledo Mining releases financial results
Filed under: Mineral - Nickel, Operator - BHP
Wednesday , 13 Aug 2008
It has always been your Company’s intention to maximise the value of its large nickel resource base through product beneficiation. It is very pleasing therefore, to report that shortly after the end of the year under review, we signed a memorandum of understanding with Jiangxi Rare Earth and Rare Metals Tungsten Group, a major, State owned, Chinese metals producer, for the financing and construction of a, jointly owned, nickel cobalt leaching plant and associated refinery. The leaching plant, with an annual capacity of up to 40,000 tonnes mixed hydroxide product, will be sited in the Philippines and will treat ore from our Ipilan deposit located on the east coast of Palawan island. The refinery will be located in China.
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