NEW YORK Canadas
Vulcan Minerals Inc. has completed its purchase of Nortec
Minerals Corp.s 51-percent stake in the Tasisuak Lake
nickel-copper property in northern Labrador, giving Vulcan full
ownership of the project.
The deal, which was first
announced in February (
amm.com, Feb. 15), has received all regulatory
approvals, according to St. Johns, Newfoundland-based
As part of the deal, Vancouver,
British Columbia-based Nortec will take 1 million common shares
of Vulcan while also retaining a 1-percent net smelter return
The Tasisuak Lake property is situated about 31 miles
northwest of the Voiseys Bay nickel-copper mine operated
by Brazils Vale SA.