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Jien Nickel Finishes Overseas Acquisitions
May 11,2010 11:56CST
industry news

 JILIN, May 11 -- According to announcement released by Jien Nickel, the company along with GB have already finished the delivery of 100% shares and convertible bonds of Canadian Royalties. The shares and convertible bonds of Canadian Royalties have delisted from Toronto Stock Exchange.

According to reports, the Canadian Royalties has strong reserves, with total 25.34 million mt of iron ore, 228kt of nickel metal, and 277kt of copper metal containing in its own region's 6 proven ore deposits.

Currently, Jien Nickel only owns around 150kt of reserved nickel ore, and this acquisition will increase the company's resource reserve to great extent. In addition, 4 new deposits have been founded in the regions, indicating great potential the acquired mine. Nickel ores in Canada are all high-grade sulfide ore with grade reaching 1% which is very close to nickel ore in China, with high economic efficiency.

(Edited by SMM)


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