HudBay and Outokumpu dealing on Namew Lake

A letter of intent has been signed between Hudson Bay Mining and Outokumpu Mines, which if concluded, will establish a joint venture partnership commited to exploring and developing Hudson Bay’s Namew Lake nickel deposit.

Located in Manitoba, the Namew Lake deposit hosts reserves of 2.85 million tons grading 2.44% nickel, 0.9% copper and minor amounts of platinum and palladium.

Discovered in 1985, the Namew Lake deposit is 60 km south of Hudson Bay’s large Flin Flon smelter which processes copper, zinc and by-product gold and silver from several satellite orebodies in the vicinity. If brought to production, the Namew Lake project would become Hudson Bay’s first nickel mine; requiring a new processing circuit at the Flin Flon smelter. Hudson Bay and Outokumpu will each have a 50% interest in the property.

Despite the depressed state of nickel prices, Outokumpu believes the deposit could be a money maker. “If it’s brought to production, we think that we can produce nickel cheaper than anyone else,” Adrian Molinari, president of Outokumpu says. He cites high nickel grades, good mining partners (Hudson Bay) and a nearby smelter as the positive attributes of the project which offset weak metal prices.



Republish this article

Be the first to comment on "HudBay and Outokumpu dealing on Namew Lake"

Leave a comment

Your email address will not be published.


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.