QUEBEC – RNC Minerals of Toronto and the Abitibiwinni First Nation (AFN) have signed an impact and benefits agreement for the Dumont nickel project near the town of Amos. The IBA provides the framework for the relationship between the AFN and the newly created RNC-Waterton nickel joint venture (see CMJ’s news for March 22, 2017).
Logging core from the Dumont joint venture project in northern Quebec.
The AFN is also offered meaningful participation in the project through training, employment, business opportunities, collaboration in environmental protection, and other means.
The Dumont project is one of the world’s largest undeveloped nickel sulphide deposits. The feasibility study of June 2013 put the after tax net present value (8% discount) at $1.13 billion, the internal rate of return at 15.2%, and the payback period at 6.1 years. During initial operation the mine will have an annual output of 33,000 tonnes of nickel, 1,000 tonnes of cobalt and 15,000 oz. of platinum group metals in concentrates.
Details of the Dumont development and its technical studies are available at www.RNCMinerals.com.