Mining giants Glencore and Barrick could have a prospective nickel and cobalt project taken from under their nose, if plans being hatched by ASX-listed Jervois Mining come to fruition.
As first reported by Street Talk on Sunday, Jervois has been making moves to win control of the Kabanga nickel and cobalt project in Tanzania, after the host government cancelled Glencore and Barrick’s joint hold of it in January.
The January cancellation was part of a broader push by the government to get a bigger share of its mineral wealth, but Glencore and Barrick have been upbeat in recent times about their chances of winning a fresh permit to explore and develop the asset.
But they have competition from Jervois, which is believed to have submitted an application for a prospecting licence over Kabanga, and crucially, is led by two people who used to manage Glencore’s interest in Kabanga.
Jervois’ chief executive is Bryce Crocker, who used to be on the Kabanga shareholder advisory committee in his days with Xstrata.
For the rest of this article: https://www.afr.com/street-talk/ex-glencore-bosses-try-to-snatch-nickel-asset-20180817-h143t0