First Point, Cliffs in arbitration over Decar project
May 07, 2012 | 05:02 PM
| Thorsten Schier
NEW YORK First Point Minerals Corp. has served notice of arbitration on subsidiaries of Cliffs Natural Resources Inc. over what it claims is "Cliffs refusal to provide First Point with information prepared by their consultants with respect to the Decar nickel-iron alloy project in British Columbia," First Point said.
Under an option agreement currently in effect that gives Cliffs a 51-percent stake in the Decar project in return for the completion of a scoping study (AMM, Sept. 14), Cleveland-based Cliffs is obliged to provide First Point with "copies of all reports ... and consultants and contractors reports," the Vancouver, British Columbia-based company claims.....
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