CAPITAL MARKETS

Weda Bay looks for new nickel partner

WEDA Bay Nickel, which is trying to develop a nickel mine on Indonesia's Halmahera Island, has launched a search for a new partner after the withdrawal of the troubled OM Group.

Tim Treadgold

The mine, which will cost between US$500 million and US$1 billion, had been designed to supply concentrate to OMG's Harjavalta smelter in Finland. OMG, however, fell into a financial hole in late 2002...

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