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MEI Online: Plant Operation News: Africa: August 8th 2003


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:: Dynatec, Phelps Dodge in Madagascar Nickel Joint Venture

Toronto-listed Dynatec Corporation and Phelps Dodge have entered into a joint venture agreement to evaluate the development of the Ambatovy nickel laterite project in Madagascar. Dynatec will be the operator of the project, and will have the right to earn a 53% interest by spending approximately US$20 million and by providing its proprietary metallurgical technologies. Ambatovy contains an estimated 210 Mt of mineralised material grading 1.10% nickel and 0.10% cobalt. Previous testwork has indicated that the ore is amenable to pressure acid leaching, with high extractions of nickel and cobalt. Dynatec plans to complete a bankable feasibility study by mid-2004, and anticipates that project development could start shortly thereafter. The study will review the potential for an open-pit mine producing 50 kt nickel and 4 kt cobalt per annum over a mine life of more than 20 years. According to Dynatec, Ambatovy could become one of the world's lowest-cost nickel producers.




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