Mitsui, Sumitomo dilute stake in VNC project

Oct 25, 2012 | 06:02 PM | Janie Davies

Tags  Mitsui, Sumitomo Metal Mining, Vale, Vale New Caledonia, VNC, nickel, cobalt, Janie Davies

LONDON — Mitsui & Co. Ltd. and Sumitomo Metal Mining Co. Ltd. (SMM) have diluted their joint stake in the Vale New Caledonia (VNC) nickel-cobalt project as part of their decision to discontinue any further investment in it, Mitsui said Thursday.

The stake, held through Sumic Nickel Netherlands BV, which was set up to handle investments in the project, has been reduced to 14.5 percent from 21 percent.....

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