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MEI Online: Commodities: Metallic Ores: Nickel: Latest News: October 26th 2007


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:: Belvedere Acquires Luikonlahti Mill and Concentrate Facility in Eastern Finland

Belvedere Resources Ltd has announced that it's 100% owned subsidiary Finn Nickel Oy has acquired the Luikonlahti mill and concentrate facility from talc producer, Mondo Minerals Oy of Finland.

The Luikonlahti facility is located in eastern Finland, close to a number of Belvedere's 100% owned nickel projects in the Outokumpu and Kotalahti mining districts. The deal consists of 35 hectares of land and buildings, a valid mining lease, tailings dam, and an assay laboratory. David Pym, CEO comments, "This acquisition represents a significant step in expanding Belvedere's production capacity. The mill is ideally located for processing ore from Belvedere's eastern Finland operations, has been well maintained and is in excellent condition. The tight supply of processing equipment globally, means this acquisition adds substantial value at low cost to the company, and enables the fast-track commissioning of our second production centre in Finland."

The Luikonlahti concentrate facility was commissioned in 1968 with a nominal capacity of 500,000 tonnes per annum of copper-cobalt-zinc ore. Mondo Minerals Oy purchased the facility in the early 1980's, and converted it to talc-nickel production. At this time, one of the 3 mills was removed leaving a capacity of 200,000 tonnes per annum talc ore. The Luikonlahti mill was in production until December 2006, and since then the facility has been under care and maintenance.




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