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Metminco to "try" nickel venture in Solomon Islands

Metminco (ASX:MNC) is aiming to try its hand at direct shipping of nickel laterite ore from the Solomon Islands with a planned scrip deal to acquire the Jejevo project on Santa Isabel Island in the Solomon Islands.

Metminco will buy Sunshine Metals in a scrip transaction, which will give it 80% of the Jejevo project, on Santa Isabel island, and an 80% interest in an early stage bauxite prospect, the Tausere project, located on the Choiseul island.

The Jejevo project is based on nickel laterite mineralisation, which was previously held by Inco and Sumitomo.

The project combines attractive nickel grades, with close proximity to a site believed suitable for barge exports and is potentially suitable for a low capital direct shipping operation (DSO) development.

(Creamer Media's Mining Weekly - Mariaan Webb - 19 September 2018)