MBMI Executes MOA for Nickel Material Processing Technology

Top Mining News: This is the mining news on the process of nickel laterite material using Nichromet’s proprietary leaching technology.

MBMI RESOURCES INC. (”MBMI” or the “Company”) (TSX VENTURE:MBR) is pleased to report it has executed a Memorandum of Agreement (MOA) with Nichromet Extraction Inc. (”Nichromet”) of Canada to process nickel laterite material using Nichromet’s proprietary leaching technology. Nichromet has developed an expertise in the leaching of nickel laterite material (the ‘Nichromet Technology’) and has established a pilot plant facility in Quebec, Canada.

In order to assess the economic viability of using the Nichromet Technology to process Philippine nickel laterite material MBMI arranged for a shipment of a 20 tonne bulk sample of high-grade nickel laterite material to the pilot plant facility. The processing of the bulk sample has met with success and MBMI has been provided with a report setting out the economics of the process.

The MOA contemplates two separate transactions; a ‘Joint Venture Agreement’ pursuant to which MBMI will supply nickel material to Nichromet’s commercial processing facility proposed to be located in Canada and a ‘Licence Agreement’ pursuant to which MBMI will be granted an exclusive licence to use the Nichromet Technology in the Philippines.