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Royal Nickel Company intends to continue to fund the Dumont Nickel Project

«Nickel project» Dumont «, developing in the Canadian province of Quebec can expect to complete the necessary funding from the» Royal Nickel Corp. «until obtaining official permits to start work» — this was said in a statement the mining company's management, which has taken over his cash collateral. The Corporation assumes collect about $ 600 million. Debt by financial support. It will be money from the credit agencies specializing in servicing foreign trade operations, borrowings under the purchase agreement, as well as funds received from the sale of minority share stake in the nickel project mentioned above, and other financial instruments.

Earlier it was reported in March this year the company «Royal Nickel» has signed an agreement on mutual cooperation with «Tsingshan Holding Group» — a major Chinese manufacturer of stainless steel, which has committed itself to consider the possibility of signing contracts for the purchase after studying the feasibility study of the nickel project. In addition, the Chinese side does not exclude the probability of launching a new plant for production of stainless steel, which, again, the nickel concentrate to «Dumont» capacity will be used.

As can be seen from the published earlier feasibility study starting from 2016 «Dumont» will produce about 33 thousand. Tonnes of nickel per year. Five years after its annual production capacity can reach about 51 thousand. Tonnes of nickel. At the same time cash costs for production of 1 ton of metal, over the maintenance period, are assumed to be at a level of about 2 thousand. Dollars.

At present, nickel producers are not experiencing the best of times. But, as said Tyler Mitchelson, one of the top managers of «Royal Nickel», at the time of commissioning capacities «Dumont» lack of new nickel developments (namely, such tendencies are observed in the world market of raw materials) will lead to a rise in prices for the metal, the project will start to make a good profit owners.

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