Sherritt takes controlling interest in Indonesian nickel project

Dec 01, 2010 | 10:35 AM |

Sherritt International Corp. has acquired a controlling stake in Rio Tinto Plc's Sulawesi nickel project in Indonesia in exchange for $110 million in funding for a feasibility study, Sherritt said in a statement.

Sherritt will acquire a controlling 57.5-percent stake in the holding company that owns the Sulawesi project, which is based in the southeast and central Sulawesi provinces on the island of Sulawesi. Rio Tinto will continue to hold the remaining 42.5 percent.....

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