Sumitomo Metal Mining Co. Ltd and local partner Nickel Asia Corp. are eyeing a bigger investment in a nickel plant project in Surigao del Norte. The Taganito hydrometallurgical processing plant project is now estimated to cost USD 3 billion. The previous estimate was USD 1.7 billion. The plant will have a capacity of 45,000tns/yr, higher than the initial output estimate of 30,000tns/yr. It will be built near Nickel Asia’s Taganito mine, where the ores to be processed will come from. The plant has been set for commissioning in 2013, a year later than initially planned, after depressed nickel prices pushed Sumitomo to rethink the parameters of the project. Sumitomo expects that nickel prices will have recovered by the time the plant opens. The mine’s life is projected to last 30 years.
