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Anaconda gets environmental nod to expand |
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| AUSTRALIA: October 9, 2001 | ||
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SYDNEY - Anaconda Nickel Ltd said yesterday it had received government environmental approvals to expand nickel mining and refining in the Australian outback.
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The Commonwealth and Western Australian state approvals cover large-scale open cut mining at the undeveloped Mount Margaret lode and production of an intermediate nickel product boosting output from the remote Murrin Murrin refinery by 33 percent to 60,000 tonnes a year, the company said. Development of the Mount Margaret deposit was under review, Anaconda said. Murrin Murrin is one of a handful of closely-watched mining projects employing new pressure acid leaching technologies to refine nickel and cobalt mined from lateritic ores found in the Australian outback. Nickel is chiefly used as an alloy to toughen stainless steel. In September, the A$1 billion project operated at 66 percent of its nameplate capacity of 44,000 tonnes a year. Anaconda owns 60 percent of Murrin Murrin, with commodities trader Glencore International AG holding 40 percent. Anaconda shares were eight cents lower at 71 cents at 2:00 p.m. (0400 GMT), above its 12-month low of 45 cents, but well under its peak over the period of A$2.20.
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REUTERS NEWS SERVICE
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