On ne sait toujours pas dans quelle caisse ils vont taper ,mais ça ne semble pas leur faire souçi .Taper dans les benefs de Kansanshi signifierait une quasi obligation de faire remonter la part de benefs revenant à ZCCM .....mais les profits de FQM ne proviennent pas exclusivement de Kansanshi .(Frontier ,Guelb Moghrein,Kolwezi)
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Canada's First Quantum wins bid to revive Ravensthorpe nickel mine
* Matt Chambers
* From: The Australian
* December 10, 2009 12:00AM
CANADIAN miner First Quantum plans to have BHP Billiton's failed $US2.2 billion ($2.4bn) Ravensthorpe nickel operation in Western Australia back in production in mid-2011, after agreeing yesterday to pay $US340 million for the mothballed mine.
First Quantum is understood to have won BHP's auction despite being the lowest of three bids.
BHP stainless steel material acting head Gerard Bond said First Quantum's offer was compelling due to the Canadian company's financial and operational capability and the lack of conditions on its bid.
A joint bid from Minara Resources, which runs the Murrin Murrin laterite nickel operation in WA, and China Metallurgical Group (MCC), is understood to have come in at $US360m, while Poseidon Nickel, the junior chaired by Andrew Forrest, offered $US400m.
Neither of the losing bidders would comment on the deal.
First Quantum produces about 250,000 tonnes of copper a year from African mines and has a market value of about $5bn.
Its head office is in Toronto and it is also listed on the London Stock Exchange, but chief executive Philip Pascal and the only other executive director, Martin Rowley, are based in Perth.
The company is an unexpected winner, particularly with a lower bid than Minara and MCC, because it has no experience with the problematic nickel laterite technology.
Laterite ore is generally easier to mine than traditional sulfide ore but must be processed using acid at extremely high temperatures and pressures.Yesterday, Mr Rowley, a former Bond Group executive, said First Quantum used the same technology (acid pressure leach) at copper operations in Zambia.
First Quantum says it can get Ravensthorpe up and running by spending just $US125m, compared with the more than $US500m some of its competing bidders expected to need.
"The problems we've identified BHP had are not too hard to rectify," Mr Rowley said.
"I think they just didn't have the commitment to it because they were in a period of nickel prices heading to $US8000 a tonne from $US50,000."
First Quantum intends to start producing 39,000 tonnes of nickel a year from Ravensthorpe, down from BHP's target of 50,000.
Ravensthorpe cost BHP $US2.2bn to build but led to $US3.6bn in writedowns when it was shut down in January after less than a year of operation.
The big miner said the sale meant it would reverse $US630m of pre-tax impairment charges.
The deal needs Foreign Investment Review Board and WA government approval. Yesterday, WA Premier Colin Barnett was cautious about First Quantum.
http://www.theaustralian.com.au/canadas ... 5808811378
Mar 8 Déc 2009 21:57 
