First Quantum Minerals Ltd. (FM.TO, FQM.L) announced the finalization of the acquisition of the Ravensthorpe Nickel Operation in Western Australia following the receipt of the relevant Government approvals. The acquisition would take effect on February 10, 2010.
The company said it is planning to spend the next 12 months constructing 2 crushing plants in the modification of the crushing, conveying, stockpile and reclaim areas of the plant and is expected to be followed by about 6 months of commissioning and ramp-up. The capital requirement for the modification is projected at about US$150 million, depending on currency exchange rates.
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