MANILA, Sep. 16 --,An executive at China's Jinchuan Group Ltd. said Wednesday that the company plans to develop the Nonoc nickel mine in the southern Philippines, including building a nickel refinery.
"We have agreed on the key points of investment," Jinchuan Vice President Bao Guo Zhong told reporters at the sidelines of a Philippine mining conference.
He didn't provide financial details of the planned investment.
Chamber of Mines of the Philippines President Philip Romualdez said Tuesday that Jinchuan is close to sealing a deal to develop Nonoc, which could be worth between $1.2 billion and $1.5 billion.
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