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Philippines’ largest nickel miner Nickel Asia to spend over $22.6 million for Northern Luzon mines

( April 20, 2015, 02:37 GMT | Insight) -- Nickel Asia Corp., the Philippines' largest nickel miner, has entered into two deals worth over a combined 1 billion pesos ($22.6 million) that will give it a minority stake in NiHAO Mineral Resources International, Inc., and allow it to take over a mining...Nickel Asia Corp., the Philippines’ largest nickel miner, has entered into two deals worth over a combined 1 billion pesos ($22.6 million) that will give it a minority stake in NiHAO Mineral Resources International, Inc., and allow it to take over a mining project in Isabela province. BusinessWorld reports that Nickel Asia signed letters of intent to purchase at least 10 percent of NIHAO’s 913 million shares at 4 pesos per share and to acquire up to 100 percent of Geogen Corp. for 720 million pesos. The deal with NiHAO gives Nickel Asia the exclusive right to explore, operate, and develop the mining claims of NiHAO and its subsidiaries in Zambales, Misamis Oriental and Masbate, while the purchase of Geogen, gives Nickel Asia a presence in the Northern Luzon region....

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