Canadian miner teams up with Waterton to buy nickel assets: Reuters

Canadian miner Royal Nickel Corp is teaming up with private equity firm Waterton Global Resource Management to buy, develop and operate undervalued nickel assets, Reuters reported. The venture will have US$35 million to acquire nickel mines and projects, said the companies, and Waterton will pay US$22.5 million for a 50-percent stake in Royal Nickel's Dumont nickel project in Québec, which the partnership will own. The venture, which has earmarked US$5 million to advance development at Dumont, is currently eyeing four to 11 targets that are relatively low-cost and do not need major capital to develop.

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