Royal Nickel planning to build $1.1 billion nickel mine
Royal Nickel (TSE:RNX) plans to advance its Dumont Nickel project, which is estimated to generate $1.1 billion after tax NPV, after receiving a prositive pre-feasibility study.
The company, which made the announcement on Tuesday, expects production to start in 2015.
On Wednesday afternoon Royal Nickel's stock was down 1.27% to 78 cents a share.
The company says there will be a staged development so it can lower cost and risk. Initial capital expenditure of $1.1 billion for 50 ktpd operation is planned.