Sumitomo Metal Mining Co. Ltd has announced that it has reached a decision to proceed with a project to produce nickel cobalt mixed sulfide in Taganito, the NE region of Mindanao Island in the Philippines. In tandem with its decision, SMM has concluded a MoU on the joint implementation of the project with Nickel Asia Corp. The Taganito Project is planned as a large-scale hydrometallurgical project that will apply high pressure acid leaching process. The project is to produce 30,000tns of nickel cobalt mixed sulfide per year from low-grade nickel oxide ore from the Taganito Mining Corp. The project’s total investment outlay is estimated at USD 1.3 billion. Plans call for operations to commence in 2013 and continue over a period of 30 years.
