HudBay Mining Company CEO to recently said the company is considering the Fenix nickel project, the construction of seeking partners, the project construction will be middle of next year to continue.The nickel is main material of Stainless Steel Pipe.
The company's Chief Executive Officer Peter Jones said the company is planning to develop a dedicated power supply for the project so as to expect to reduce the project's estimated cost of one billion U.S. dollars. HudBay will be against the project early next year, market research, and decide whether to continue the project by mid-year construction.
Jones said, "the process of the project, we will face a number of financing options, including: seeking partners to build joint ventures, and the signing of the underwriting agreements."
HudBay is currently being processed Fenix community relations projects, the project is located in a large-scale extension near Lake Izabal in Guatemala, the local residents think that the land belongs to their ancestors, thus they and the Fenix agencies on the ground took place in September of violence, which resulted in one death.
HudBay in mid-2008 purchased the item, but soon as nickel prices plummeted, the company had to shelve the project.
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