SOURCE: Industrial Info Resources

June 20, 2008 06:30 ET

Mirabela Advances Nickel Project in Brazil, an Industrial Info News Alert

CORDOBA, ARGENTINA--(Marketwire - June 20, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Australian miner Mirabela Nickel Limited (ASX:MBN) (West Perth) is moving ahead with the company's lead development, the Santa Rita nickel project, through its Brazilian subsidiary Mirabela Mineracao do Brasil Limitada. Mirabela, expecting to produce approximately 18,500 tons per year of nickel in concentrate, is developing a 4.6 million-ton-per-year open pit mine and concentrator at Santa Rita. According to Mirabela's authorities, given the potential mill feed tonnage from Santa Rita, the company has begun to evaluate the capital and operating costs of constructing and operating an Ausmelt Limited (ASX:AET) nickel smelter. Mirabela's main shareholders include Dundee Resources (Toronto, Canada) (19.9%), Mirabela's directors (12.6%), and Vale (NYSE:RIO) (Rio de Janeiro, Brazil) (9.2%).

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