Fincraft Resources has started consulting on the issue of listing its nickel and cobalt mining subsidiary Kaznickel on the Hong Kong Stock Exchange.
Until the end of the year the company intends to get $260 million from Kaznickel IPO by selling 25% in it to finance the next stage of the development of its main cobalt-nickel deposit of Gornostayevskoye.
The deposit reserves are estimated at 1 million tons of nickel and 100 thousand tons of cobalt, making it a leader among the major Asian deposits. (Ukrainian metal)