PERTH (miningweekly.com) – ASX-listed IGO will partner with Andrew Forrest’s Wyloo Metals to evaluate opportunities for downstream nickel processing in Australia, as Wyloo commits to support IGO’s bid for fellow-listed Western Areas.
The agreement will see IGO and Wyloo Metals conduct a study, funded 70:30 by IGO and Wyloo respectively, to evaluate the technical, commercial and economic feasibility of developing a downstream nickel processing facility based in Australia.
Following the conclusion of the study, and subject to the parties making a final investment decision, the parties will then form a 70:30 joint venture (JV) to construct and operate a downstream nickel processing facility.
Meanwhile, Wyloo on Thursday also said that it would vote its 31.5-million shares in takeover target Western Areas in favour of IGO’s takeover of the company.
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