Falconbridge offers to go it alone on Koniambo

Dec 14, 2005 | 03:41 PM | Rory Carroll

Falconbridge Ltd. is believed to have offered to take on the full financing costs of the proposed 60,000-tonne-a-year Koniambo ferronickel mine in New Caledonia.

Falconbridge declined to disclose the exact nature of the offer to Société Minière du Sud Pacifique SA (SMSP), its current partner in the project with a 51-percent stake, or whether it wants to acquire full ownership.

"The matter is progressing," a Falconbridge spokesman said Wednesday. "We have made an offer to SMSP, which has not yet been accepted. When we have something to announce we will distribute a news release, but at this stage we have nothing final."....

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