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Chinese company to sink more money into Nunavik Nickel Mine project

The mine would be Nunavik’s second operating mine

By NUNATSIAQ NEWS

Jilin Jien Nickel Industry Co. said Aug. 29 that it’s ready to invest an additional $400 million in the Nunavik Nickel project in Nunavik, reports Canadian Press.

Wu Shu, the mining company’s chief executive office, made the announcement Aug. 29 in Beijing after a meeting with Premier Jean Charest, who is on trade mission that has taken him to Japan and now to China.

The $400 million means Jilin Jien will have sunk $800 million to fast-track that mine, Nunavik’s second, into operation.

The mine is expected to begin production in mid-2012 and employ about 270 people, CP said.

Jilin Jien Nickel Industry acquired nickel mining company Canadian Royalties Inc. in 2010, and it remains embroiled in legal disputes with its partner, Vancouver-based Goldbrook Ventures, which said last year that said its Chinese partners in the Nunavik Nickel mine project violated their partnership deal.

Goldbrook then started the first of three separate arbitration proceedings against the parent company of Jien Canadian Mining.

Charest remains in China until Sept. 2.

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