China smelter group agrees to lower Q1 copper charges
The charges tend to fall when ore supply declines and rise when more concentrate is available.
Peter Koven at the National Post looks at the Vancouver-based DeepGreen Resources, a private company that just signed 50% off-take agreement with mining giant Glencore International.
The company’s owner, David Heydon, used to work for Nautilus but has decided to strike out on his own and build a rival underwater mining company.
Mr. Heydon raised more than US$360-million in his time at Nautilus, but that company’s plans are child’s play compared to what he hopes to do with DeepGreen’s Clipperton project. He envisions a gigantic, multi-billion-dollar operation producing 60,000 tonnes of nickel, 50,000 tonnes of copper and 1.3 million tonnes of manganese a year. The nickel output alone would place it among the largest producers of that metal.
