ONTARIO – KGHM International (formerly Quadra FNX) of Vancouver has become the sole operator of the Victoria copper-nickel project near Sudbury, thanks to a recent agreement with partner Vale Canada. The deal gives KGHM responsibility for building and operating the project, and Vale will receive a royalty and offtake on all future production from the mine.
The orebody, minable with underground methods, at the Victoria advanced exploration project is described as a “Frood style” south range breccia. During the last quarter of 2011, the inferred resource was estimated to be 14.5 million tonnes grading 2.5% Ni, 2.5% Cu and 7.6 g/t total precious metals.
The image gallery at www.KGHMinternational.com contains a few photos of the Victoria project and many more of the company’s operating mines.