Sutton's chairman outlines Tanzanian nickel-cobalt-copper deposit

摘要

Sutton Resources' and BHP Minerals' joint venture in Tanzania could represent the world's largest unexploited nickel-cobalt-copper belt, according to James E. Sinclair, Sutton's chairman. Speaking to ag group of investors, Sinclair said that one of the anomalies, the Kabanga, contains about 418 kt (922 million ibs) of nickel, 54 kt (141 million lbs) of copper and 36 kt (80 million lbs) of cobalt. He added that with Russian nickel production facing increasing difficulties and basic global demands set to rise sharply. "Voisey Bay in Canada, Kabanga and Kagera in Tanzania will be the new names to compete with the higher-cost mining centers now existent." Concerning nickel, Sinclair said, "Nickel can trade at 7.50 dollars/lb between mid-1996 and the year 2000. From the low nickel will be seen to be the most profitable commodity to be owned or produced among metals of industrial and technological use." Nickel demand, based largely on the Asian phenomenon, will continue for 30 years. New supplies will be taken up.