Reuters reported that on June 23, Sumitomo Metal Mining Co. Ltd. (TSE:5713) and Axiom Mining Ltd. (ASX:AVQ) will submit their final arguments regarding the Isabel nickel laterite discovery to the Solomon Islands High Court.
As quoted in the market news:
A ruling is expected soon after and could lead to development of the deposit, at a time when nickel prices have soared following a ban in January on ore exports by Indonesia, the world’s biggest supplier.
Analysts estimate Isabel compares in size or grade to other large South Pacific nickel mines, such as Vale SA’s Goro mine in New Caledonia and the China-owned Ramu mine in Papua New Guinea.
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