Americano Nickel-Falcondo to resume Dominican operations
Falconbridge DominicanaSA (Falcondo) is pleased to provide an update on the company’s progress sincethe August 2015 acquisition of a majority stake in Falcondo from Glencore byAmericano Nickel Ltd.
Re-start of Operations
Falcondo is makingsteady progress on all technical and operational activities required tore-start the plant in the middle of 2016. Employment at Falcondo has already increased threefold from 125employees in August 2015 to over 350 direct employees and 150 additionalindirect employees through contractors in November 2015 and will continue toincrease in the period leading to the plant’s production re-start. Apart fromBonao, the significant majority of new employees come from local communitiesnear where Falcondo operates.
On November 5th and6th, 2015, Americano Nickel welcomed the visit of a delegation of the Ministryof Energy and Mines of the Dominican Republic to the Geneva office, inSwitzerland, on the occasion of the UN Intergovernmental Forum on Mining,Minerals, Metals and Sustainable Development. The delegation met with senior Americano Nickel officials as well asmajor international investors backing Americano Nickel.
Americano Nickel valuesits engagement with the Government of the Dominican Republic and closecollaboration prior and following the acquisition of Falcondo. We have provided all initially requesteddocumentation and continue to provide further information to the Ministry ofEnergy and Mines as part of a constructive and transparent dialogue with theGovernment of the Dominican Republic, who is also our partner in Falcondo witha significant shareholding.
Falcondo is continuingits long-standing tradition of active engagement with the community whileparticipating in local and national projects. Further to continuing to fund the Falcondo Foundation and thus variousprojects related to education, health and arts, we recently led the sponsorshipof the Bonao Expo 2015 and Expo Monte Plata. Additionally we provide financial and operational support for the safedaily transportation of more than 320 students to school and people from the communitiesto Bonao. It is also worth highlightingFalcondo’s leading contribution to construction projects of high communityimportance, namely the refurbishment of the Public Clinic in Haina and theconstruction of bridge connecting the communities of Caribe and Verde to Bonao.
Ioannis Moutafis,President of Falcondo, said:
“Falcondo has excellenthuman capital and we are very pleased to grow the team with highly skilledemployees from the surrounding communities. I am confident our re-start project will be successful despite the very challengingcommodity markets, and I am grateful for the support we have received from thecommunity in our endeavor.”
Marcos Camhis, Memberof the Board of Directors of Falcondo and Americano Nickel, said:
“The Falcondoinvestment is a cornerstone of Americano Nickel’s strategy in the Americas. Ourfist priority is the Falcondo re-start project, a significant financialinvestment in this very challenging market. Americano Nickel and GSOL are very impressed by the Dominican Republicas an investment destination and are encouraged by the positive experience inconsidering additional investments in the country in other sectors of theeconomy.”
Falconbridge Dominicana(Falcondo) is a Ferronickel mining company, with operations in Monsignor Noueland La Vega, Dominican Republic. Falcondo is owned by Americano Nickel Limited,a private company.
We are a long-termpartner of the Dominican Republic, with a track record of value creation andcommitment to local stakeholders demonstrated over the last 60 years.
Our facilities includeopen mines and nickel processing plant including ore preparation, power plant,reduction furnaces, electrical smelting furnaces and metal refinery.
About Americano Nickel Ltd:
Americano NickelLimited (Americano Nickel) is a specialist mining holding company with a focuson Nickel exploration and mining in the Dominican Republic and the Americas. OnAugust 13, 2015, Americano Nickel acquired all the outstanding shares ofGlencore Canada Corporation in Falconbridge Dominicana (Falcondo).
Americano Nickel is afully owned entity of Global Special Opportunities Ltd. (GSOL), aninternational private equity fund established in 2009. Since 2009, the fund hasgrown its portfolio of investments across Europe and the Americas and iscontinuously expanding its range. GSOL has identified opportunities in thenatural resources sector and the addition of a seasoned team of experts inNickel mining and production formed the basis for the Americano Nickelinvestment in Falcondo.
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