Belvedere Resources: nickel miner diversifying into gold production

摘要

BELVEDERE was formed in 1997 as a Finland-focused exploration company, tt is listed on the TSX Venture Exchange (BEL) and the Frankfurt Stock Exchange (BD4), but is managed from Europe. Belvedere reacquired the Hitura nickel mine early this year, and took the mine from care and maintenance into production in five months for a capital cost of only 2 million euros. To minimise start-up risks, Belvedere secured an initial fixed-price offtake agreement for the first 18 months of production, guaranteeing profitability. Belvedere is now mining approximately 540,000t/y of ore and producing about 2,500t/y of nickel in concentrate.