Blackstone connects battery resources through NICO purchase

Blackstone Minerals has made a lightning bolt strategic investment in laterite nickel by rolling A$2.75m into NICO Resources’ IPO to gain a 15.11 per cent interest in the battery minerals hopeful that last year picked up Metals X’ massive Central Musgrave project that spans both WA and South Australia. With a serious nickel metal endowment of some 1.95m tonnes, Blackstone says it is likely one of the largest undeveloped nickel resources globally.

Blackstone says with the current lack of serious nickel sulphide discoveries, the major players will inevitably start to turn to laterite nickel deposits to feed the global demand for lithium-ion batteries that contain more nickel than lithium.  It says previous interest from in the Central Musgrave project by big players such as South Korea’s mining and manufacturing giants Posco and Samsung underlines its value as a major strategic nickel asset.  Interestingly it also contains significant quantities of high-quality cobalt and scandium.

Located on Pitjantjatjara land in rocky outcrops standing proudly between the mighty Gibson Desert to the north and the massive Great Victoria Desert to the south, the Central Musgraves are a treasure trove of mineral wealth and if Nico can work out a successful processing route for the laterite ore, it will have no shortage of resources to draw from.

CREDIT – Bulls n Bears