Americano Nickel-Falcondo to resume Dominican operations
Falconbridge Dominicana SA (Falcondo) is pleased to provide an update on the company’s progress since the August 2015 acquisition of a majority stake in Falcondo from Glencore by Americano Nickel Ltd.
Re-start of Operations
Falcondo is making steady progress on all technical and operational activities required to re-start the plant in the middle of 2016. Employment at Falcondo has already increased threefold from 125 employees in August 2015 to over 350 direct employees and 150 additional indirect employees through contractors in November 2015 and will continue to increase in the period leading to the plant’s production re-start. Apart from Bonao, the significant majority of new employees come from local communities near where Falcondo operates.
On November 5th and 6th, 2015, Americano Nickel welcomed the visit of a delegation of the Ministry of Energy and Mines of the Dominican Republic to the Geneva office, in Switzerland, 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 as major international investors backing Americano Nickel.
Americano Nickel values its engagement with the Government of the Dominican Republic and close collaboration prior and following the acquisition of Falcondo. We have provided all initially requested documentation and continue to provide further information to the Ministry of Energy and Mines as part of a constructive and transparent dialogue with the Government of the Dominican Republic, who is also our partner in Falcondo with a significant shareholding.
Falcondo is continuing its long-standing tradition of active engagement with the community while participating in local and national projects. Further to continuing to fund the Falcondo Foundation and thus various projects related to education, health and arts, we recently led the sponsorship of the Bonao Expo 2015 and Expo Monte Plata. Additionally we provide financial and operational support for the safe daily transportation of more than 320 students to school and people from the communities to Bonao. It is also worth highlighting Falcondo’s leading contribution to construction projects of high community importance, namely the refurbishment of the Public Clinic in Haina and the construction of bridge connecting the communities of Caribe and Verde to Bonao.
Ioannis Moutafis, President of Falcondo, said:
“Falcondo has excellent human capital and we are very pleased to grow the team with highly skilled employees from the surrounding communities. I am confident our re-start project will be successful despite the very challenging commodity markets, and I am grateful for the support we have received from the community in our endeavor.”
Marcos Camhis, Member of the Board of Directors of Falcondo and Americano Nickel, said:
“The Falcondo investment is a cornerstone of Americano Nickel’s strategy in the Americas. Our fist priority is the Falcondo re-start project, a significant financial investment in this very challenging market. Americano Nickel and GSOL are very impressed by the Dominican Republic as an investment destination and are encouraged by the positive experience in considering additional investments in the country in other sectors of the economy.”
Falconbridge Dominicana (Falcondo) is a Ferronickel mining company, with operations in Monsignor Nouel and La Vega, Dominican Republic. Falcondo is owned by Americano Nickel Limited, a private company.
We are a long-term partner of the Dominican Republic, with a track record of value creation and commitment to local stakeholders demonstrated over the last 60 years.
Our facilities include open mines and nickel processing plant including ore preparation, power plant, reduction furnaces, electrical smelting furnaces and metal refinery.
About Americano Nickel Ltd:
Americano Nickel Limited (Americano Nickel) is a specialist mining holding company with a focus on Nickel exploration and mining in the Dominican Republic and the Americas. On August 13, 2015, Americano Nickel acquired all the outstanding shares of Glencore Canada Corporation in Falconbridge Dominicana (Falcondo).
Americano Nickel is a fully owned entity of Global Special Opportunities Ltd. (GSOL), an international private equity fund established in 2009. Since 2009, the fund has grown its portfolio of investments across Europe and the Americas and is continuously expanding its range. GSOL has identified opportunities in the natural resources sector and the addition of a seasoned team of experts in Nickel mining and production formed the basis for the Americano Nickel investment in Falcondo.
Nov 27, 2015
Category: DR News |