[miningmx.com] – THE government of Burundi has taken a 15% stake in a nickel and iron project worth “a few hundred million dollars”, said the project’s main backer, Danko Konchar, CEO of Kermas Group.
In an interview with Bloomberg News, Konchar said the government investment was part of a licensing agreement for a mine that will produce one million tonnes of iron ore, nickel and cobalt within five years.
Konchar told Bloomberg News that the goal was to increase capacity at the plant to handle five million tons annually within a decade at a cost of about $3bn.
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