An important milestone for BRN
A $72mn royalty agreement between Brazilian Nickel Limited, ‘BRN’, and the Anglo Pacific Group PLC, ‘Anglo Pacific’ has been announced, Mining Global reports. Brazilian Nickel has welcomed the investment and identified it as an important milestone for BRN and its development of the Piauí Nickel Project, ‘PNP’.
Anglo Pacific are a global natural resources royalty and streaming company, with a strategy of only investing in high growth potential companies, with mining assets that are both competitively positioned and in established mining jurisdictions. As such, the Royalty Agreement represents an important validation of BRN and the PNP. Moreover, the support of Anglo Pacific is a vindication of the technical and economic viability of nickel laterite heap leaching and its ability to deliver low cost nickel and cobalt products.
The total investment of Anglo Pacific, of US$ 72 million, makes a significant contribution to the PNP development cost, markedly reducing BRN’s future financing needs and greatly facilitating our goal of bringing the PNP into profitable production.