Victory Nickel to start development of Canadian nickel mine

20 September 2011 (Last Updated September 20th, 2011 18:30)

Victory Nickel has received approval from its board of directors for the development of the Minago sulphide nickel mine located on the Thomson Nickel Belt in central Manitoba, Canada.

Victory Nickel has received approval from its board of directors for the development of the Minago sulphide nickel mine located on the Thomson Nickel Belt in central Manitoba, Canada.

The firm has held talks with potential financing partners to fund the project, which is estimated to cost $75m.

The loan will be utilised to finance early site works including construction of the electrical supply and distribution system, dewatering of the property and detail engineering works.