Sherritt spends $13m on 2011 La Sampala study

World?s leading lateritic ores nickel miner and refiner Sherritt International Corporation reported on Wednesday that it would spend C$13 million in 2011 advance pre-feasibility and feasibility work on the Project.

Sherritt is the operator of the La Sampala nickel project which is located in Central and Southeast Sulawesi provinces.

Sherritt acquired 57.5 percent operating interest in the project from Anglo-Australian mining giant Rio Tinto last year with US$110 million spending commitment towards producing a feasibility study from which a development decision will be made. Rio Tinto will continue to hold the remaining 42.5 percent in the project.

The La Sampala nickel project currently ranks as one of the largest known undeveloped, greenfield lateritic nickel deposits in the world.(romel)