MINCOR RESOURCES NL - ASX: MCR

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Description

Mincor Resources NL is a nickel mining Company listed on the Australian Stock Exchange. The Company is debt-free with an exceptionally strong balance sheet and has paid regular fully-franked dividends since 2003.

Mincor operates two mining centres in the world-class Kambalda Nickel District of Western Australia, and has been mining there successfully since 2001. The Company is also active in nickel and base metal exploration throughout Australia.

Mincor's growth strategy is aimed at the creation of a diversified mining house through a strong focus on growing the Company's successful nickel business while simultaneously expanding its interests across a wider range of mineral commodities.

With its outstanding growth potential, strong cash flows and regular dividend payments, Mincor represents a quality investment in the well-proven Australian resources sector.

Kambalda Nickel

The Kambalda Nickel District in Western Australia is one of the world's great nickel provinces. Since its discovery by WMC Resources Ltd in 1968 it has produced over 47 million tonnes of ore, containing more than 1.4 million tonnes of nickel metal. The District has consistently generated more than 35,000 tonnes of nickel metal per annum, apart from a brief period in the late 1990s when it was partly shut down.

Mincor played a leading role in the post-2001 revival of the Kambalda Nickel District, and is the largest single producer in the District.

Mincor commenced production from its Miitel Nickel Mine in March 2001. Since then it has grown to become one of the largest producers of nickel in Australia. To the end of December 2010, Mincor's attributable production had reached 127,000 tonnes of nickel metal contained in more 4.2 million tonnes of ore, for just over 112,000 tonnes of nickel-in-concentrate. Over the same period Mincor has grown its starting ore reserve by more than five times, consistently replacing mined ore reserves with new metal through exploration and, more rarely, acquisitions.

The Company owns the operating Miitel, Otter Juan, Mariners, McMahon and Carnilya Hill Mines, as well as numerous resource-level projects and exploration prospects in the District. All of these mines are underground narrow-vein mining operations, and all are owned 100% by Mincor, apart from Carnilya Hill, which is 70% owned by Mincor.

All Mincor's ore is toll-treated at BHP Billiton's Nickel West concentrator plant in Kambalda. The resulting concentrate is sold to BHP Billiton under a long term off-take agreement with that company.

Mine For

nickel

Location of operation(s)

Western Australia

Address

Level 1, 56 Ord St
WEST PERTH, WA, AUSTRALIA

Phone

(61 8) 9476 7200

Email

Website

http://www.mincor.com.au/

Last Updated

4/5/2011