Samsung considering $2.2 billion investment in Australian nickel/cobalt mine

Andrew Topf | November 25, 2011

Powerful Korean conglomerate Samsung Group is said to be considering a $2.2 billion investment in an Australian nickel and cobalt mine, The Australian is reporting.

The newspaper reports that the owner of the mine, Mine X, has had discussions with Samsung “and other entities” regarding the Wingellina project located in a remote location in the Australian outback.

According to Metals X, the mine could produce 40,000 tonnes of nickel and 3000 tonnes of cobalt concentrates for 40 years, although the remoteness of its location means the mine would be expensive to develop, says the story.

Samsung image is by pcruciatti / Shutterstock.com