RNC, private equity firm Waterton Global form nickel-focused partnership – by Henry Lazenby (MiningWeekly.com – March 22, 2017)


VANCOUVER (miningweekly.com) – Canadian miner Royal Nickel Corp (RNC) has joined forces with private equity firm Waterton Global Resource Management (WGRM) to buy, develop and operate nickel assets.

The companies on Wednesday announced that they had inked a joint venture (JV) accord that will result in Waterton buying a 50% stake in RNC’s Dumont nickel project, in Quebec, for C$30-million in cash. The transaction values Dumont – billed as one of the world’s largest undeveloped nickel deposits – at about C$60-million.

RNC and Waterton have also agreed to inject $17.5-million each into the newly established limited partnership that will own Dumont, support its advancement to development, as well as to acquire other high-quality nickel assets globally. The JV entity’s objective is to establish a pure-play nickel company with multiple projects operating in stable jurisdictions.

“This transaction clearly highlights the value of the Dumont nickel project and will allow us to continue to advance Dumont. RNC is very pleased to partner with WGRM, a leading mining private equity firm with exceptional in-house mining and investment expertise.

WGRM’s unique approach combines proprietary expertise and patient capital over the course of the mining cycle and provides our JV with the ability to advance nickel projects on an opportunistic timeframe,” RNC president and CEO Mark Selby said.

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