US has second-longest mine development timeline in the world, S&P Global says
Mines in the US go from discovery to production on an average of 29 years.
Australia’s Centaurus Metals Ltd on Tuesday said it had reached an agreement to acquire a large-scale nickel sulphide project from Vale SA in northern Brazil.
The deal which comprises of an upfront cash payment of $250,000, also includes the transfer of the Salobo West copper-gold project tenements to Brazil’s Vale.
Vale, the world’s largest iron ore exporter, will also have the right to purchase 100% of production from the Jaguar nickel sulphide project under a future offtake agreement, the company said in a statement.
(By Shriya Ramakrishnan; Editing by Stephen Coates)
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