Western Areas Completes Purchase of Cosmos Nickel Complex

Western Areas Ltd. (ASX:WSA) announced that it’s completed its previously announced acquisition of the Cosmos Nickel Complex from Xstrata Nickel Australasia Operations Pty Ltd., a Glencore plc (LSE:GLEN) subsidiary. Western Areas made the acquisition through its own subsidiary.
Acquisition highlights include:

• World class nickel belt which has yielded one of the highest grade nickel mines ever discovered and operated;
• Substantial exploration opportunities in areas which remain largely untested – 24 month program ready to commence on day one;
• Third potential underground mine with the undeveloped Odysseus high grade deposit hosting a total Mineral Resource of 7.3 million tonnes @ 2.4% nickel containing 174,000 tonnes of nickel;
• Extensive and well maintained operating infrastructure including a 450ktpa concentrator, a new SAG mill and large accommodation village to support an early start-up; and
• Consistent with Western Areas’ core strengths – exploration, development, underground mining and conventional flotation utilising a well proven low cost operating model.

Click here to read the full Western Areas Ltd. (ASX:WSA) press release.