First Nickel's vice president of operations Gerry Bilodeau has plans to make the company into a mid-tier producer. The $69.8-million expansion project of the Lockerby Mine will be a stepping stone toward that goal.
He presented the nickel-copper development project to a full house of mining supply and service companies at the Howard Johnson hotel in Sudbury on Jan. 21.
He described it as a low-risk brownfield project that, once up and running, will provide a six-and-half-year mine life based on current resource estimates. It will provide up to 120 jobs at its height and produce 10 million pounds of nickel per year, as well as copper and platinum group metals.
The cash-positive company is receiving loan financing of $30 million by an Australian and French bank.
Bilodeau said the ore body is a world-class model in terms of grades and mineability, and that business opportunities are there with potential for growth beyond the projected mine life.
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