31
Jan
14:56
NICKEL, COPPER, COBALT: Magna Mining, Mitsui planning Shakespeare Mine JV
Magna Mining is releasing a positive feasibility study for its Shakespeare nickel project in Ontario and has signed a non-binding agreement to create a joint venture with Japan-based Mitsui to develop the project, Kallanish reports.
Under the memorandum of understanding, Mitsui would acquire 10-12.5% interest in the nickel mine in exchange for cash consideration ranging between CAD 8-10 million ($6.2m-7.8m) and the companies would enter into a JV agreement with Ma…
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