Sherritt International Corp. (SHERF)

[goldenpolarbear]

Sherritt International is Creating a brighter and sustainable future with...
Ambatovy is one of the most ambitious industrial undertakings in the history of Madagascar, Africa, and the Indian Ocean Region. It will soon produce 60,000 tonnes of refined nickel and 5,600 tonnes of refined cobalt every year for the next three decades. Ambatovy is positioned to become the world’s biggest lateritic nickel mine by 2013-2014. Ambatovy’s goal is to create lasting prosperity for all stakeholders and contribute significantly to sustainable development in Madagascar.

- See more at: http://www.ambatovy.com/docs/#sthash.WbK7iTuu.dpuf
http://www.ambatovy.com/docs/

http://www.sherritt.com/investor-relations

MADAGASCAR – Sherritt International Corp. of Toronto says its has reached commercial production at the Ambatovy nickel operations. Located, 80 km east of Antananarivo, the project is a joint venture of Sherritt (40% and operator), Korea Resources (27.5%), Sumitomo Corp. (27.5%) and SNC-Lavalin (5%).

Ambatovy produced its first finished nickel and cobalt in Q3 2012. It produced 5,695 tonnes of finished nickel and 493 tonnes of finished cobalt.

The project includes an open pit and an ore preparation plant at the mine site. Concentrated laterite ore is delivered by pipeline the process plant and refinery on the east coast. The project has an annual design capacity of 60,000 tonnes of nickel and 5,600 tonnes of cobalt with a mine life of 29 years. It is expected to be the world's largest nickel and cobalt producer from laterite ores.