Niquelandia nickel project

Votorantim approved the development of a 10.6kt Ni/a FeNi smelter at Niquelandia in November 2006. Capital costs were put at R$558M, with an additional R$180M for a coke boiler for the generation of electricity. Construction commenced in 2007 and commissioning was anticipated in June 2009. However, the project was placed on hold in 2010 and has essentially been dormant since. Wood Mackenzie’s asset reports are built from the bottom up, incorporating a number of granular data metrics to ultimately produce our industry standard cash operating costs. This report contains a detailed asset note giving you a holistic view of the asset, including an operational overview through to a timeline of events from inception to now. This qualitative analysis is supplemented by the associated Excel download which enables interrogation of a whole series of cost and production metrics over the life of the asset.