Sumitomo to spend USD 1.9 billion in nickel mine
Friday, May 23rd, 2008The Nikkei business daily reported that Japan’s Sumitomo Metal Mining Co plans to spend about JPY 200 billion (USD 1.9 billion) to develop a nickel mine in the Solomon Islands in the South Pacific.
The Nikkei said that the firm plans to build a refinery in the island nation and start processing nickel ore into nickel metal with 55 % purity around 2013, to be shipped to its plant in Japan for further processing.