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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: John McCarthy	11/12/2006 9:17:38 PM
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Three Chinese companies to invest in Philippine Nickel Corp. Nov. 13, 2006 (China Knowledge) – Jinchuan Nonferrous Metals Corp., Baosteel Group and China Development Bank may come up with a plan by year-end to invest US$1 billion in a mine owned by the Philippine Nickel Corp., according to the Philippine Daily Inquirer on Sunday citing Philnico President Evaristo Narvaez. This investment has been in discussion since February 2005. The Nonoc nickel mine, which was closed in the 1980s, may open in the third quarter of next year. The newspaper also cited Narvaez as saying that rehabilitation of the mine may take 18 months. Philnico has the permit to operate the nation's biggest nickel mine on Nonoc island, Surigao del Norte province. The mine has more than 144 million metric tons of nickel ore reserves, according to an October estimate from the Mines and Geosciences Bureau. Copyright © 2006 www.chinaknowledge.com chinaknowledge.com regards, John comment: obviously China is taking nickel SOURCES -for the future- very serious ...

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