Update on Berong Nickel Operation
(Thomson Reuters ONE) - Toledo Mining Corporation PLCToledo Mining Corporation plc ("Toledo" or the "Company") (AIM:TMC)wishes to advise that Berong Nickel Corporation ("BNC"), thePhilippine registered company in which Toledo has a 56.1% economicinterest, has received notice from Queensland Nickel Pty Ltd ("QNP")to terminate the contract between the companies whereby QNP isrequired to purchase a minimum of 300,000 wet metric tonnes ("WMT")of nickel laterite ore per annum from BNC until mid-2012 . The othershareholders of BNC are Atlas Consolidated Mining and DevelopmentCorporation and European Nickel plc.BNC disputes the notice of termination and has instructed its legaladvisors to consider all available remedies.The Berong mine is not immediately affected economically by thisnotice as the mine is currently on care and maintenance and theannual shipping window is now closed until March 2010 due to seaconditions.BNC and its sales agents continue to be in negotiation for ore salesto Chinese and other nickel ore consumers.For further information, please visit www.toledomining.com orcontact:Reg Eccles, Chairman, Toledo Mining +44 (0) 20 7514 1480Richard Greenfield, Ambrian Partners +44 (0) 20 7634 4700Alex Buck, BuckBias +44 (0) 7932 740 452---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 11.11.2009 - 11:24 Uhr
Sprache: Deutsch
News-ID 8224
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