Nickel Properties

The Hitura mine has been consolidated into Belvedere’s other Nickel properties to produce a new European Nickel producer with a strong development pipeline of new properties.

The business model is focused on developing projects around centralised production centres. The first production centre is the Hitura mill where ore from the Sarkiniemi and Hitura mines are currently processed. The Luikonlahti mill is to form the basis of the second production centre. Re-commissioning of the mill is scheduled for 2009, with ores from the Hautalampi Ni, Cu, Co and Valkeisenranta deposits scheduled to be processed there.

Current Status

• Sarkiniemi deposit, open pit phase completed to schedule. First ore shipment commenced from underground in March 08.
  
• Resouce definition and extension drilling at Valkeinsenranta commenced. Modelling indicates the mineralisation is open in all directions.