US$35Mln New Zealand-Vietnam JV to Exploit Nickel in Son La

11:14:44 AM | 28/2/2007

New Zealand’s Knight Piesald Company and a local partner have reached a deal on a US$35 million joint venture to dig into the Ban Phuc nickel ores in Bac Yen district, northern mountainous Son La province.
In the sulphur compound project, Knight Piesald makes up 90 per cent of total investment and Son La Engineering Joint-Stock Company, 10 per cent.
The nickel mine is believed to have deposits of up to 72 million tons for just one sulphurous element. The joint venture is set to mine 0.2 million tons a year.
The New Zealand partner will also invest additional US$5 million in a waste treatment system for the mining site which is to cover 2.2 hectares of land. (VNA)