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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (17468)	4/9/2008 10:59:21 PM
From: LoneClone	Read Replies (1) \| Respond to of 194043

Rio Tinto nears accord on Indonesia nickel project reuters.com Rio Tinto, the world's second biggest miner, said on Tuesday it is near an agreement with the Indonesian government to start a feasibility study on a proposed nickel mining project in Sulawesi. "We are close to completing our contract of work negotiations with the Indonesian government," Rio Tinto head of exploration Eric Finlayson told reporters on the sidelines of a mining conference in Singapore. "We are very optimistic this year we can get the project to cross the line." The project, valued by Rio a year ago at between $1 billion and $2 billion, was estimated to have a capacity to produce 46,000 tonnes of low concentrate nickel ore a year. Rio Tinto is one of several global mining players in resource-rich Indonesia, which is struggling to attract foreign investment in the sector amid a lack of legal certainty and continuous disputes with the government.