Fate of Ban Phuc Nickel remains murky The fate of Ban Phuc Nickel mine invested by Ban Phuc Nickel Mines Limited Liability Company (BPNM) remains uncertain. A representative of the Son La Department of Industry and Trade told VIR that the mine’s operation has been suspended since October last year. To date, the department has yet to receive any specific plans to resume the mine’s operation from the investor. Previously, in October 2017, BPNM officially decided to suspend the operation of Ban Phuc Nickel mine until September 30, 2018 due to the company’s massive losses. In 2007, Asian Mineral Resources Limited (AMR), a global mining group listed on the bourse in Toronto, Canada, was granted the licence to exploit and process ores in the Ban Phuc nickel ore mine, which has a reserve of more than 200,000 tonnes of nickel and 18,000 tonnes of copper. According to the initial plan, AMR will co-operate with domestic enterprise Son La Mechanical Engineering JSC to establish BPNM, with AMR holding 90 per cent, to develop the project which lies 160 kilometres northwest of Hanoi in Son La province. BPNM envisioned starting production in mid-2009. However, due to low market demand, the project halted…
- BUSINESS NEWS HEADLINES JAN. 23
- Tuesday briefing: US issues stark Huawei warning to UK
- Microsoft buys Nokia's handset division in €5.4bn deal - as it happened
- EU will protect fishing communities in post-Brexit talks
- Wall Street dips from record in 'Jason Bourne market'
- SEC moves to revive margin lending
- Room is limited for further RRR cuts in China: central bank official
- China rejects threats, tariffs as way to resolve trade war
- The next China trade battle could be over electric cars
- China's 'market condition' caveat on U.S. ag purchases adds to trade deal doubts
BUSINESS IN BRIEF 28/3 have 281 words, post on at March 27, 2018. This is cached page on VietMaz. If you want remove this page, please contact us.