Nickel
Overview
Our nickel business comprises two ferronickel operations: Codemin in Brazil and Loma de Níquel in Venezuela as well as the world-class Barro Alto ferronickel project in Brazil.
Share of Group operating profit (2009): 0.04%
Share of Group net operating assets (2009): 5%
Our strategy for our nickel business is to find or acquire, develop and operate long-life, low-cost mines in a socially and environmentally responsible manner.
Our nickel business comprises the wholly owned Codemin mine in Brazil and the Loma de Níquel mine, in which we hold a 91% interest, in Venezuela. The world class Barro Alto ferronickel project, also in Brazil, is due to begin production in early 2011 and is set to represent significant growth for us in this commodity.
The Barro Alto deposit, owned wholly by Anglo American, contains resources of 116.2 million tonnes, at an average grade of 1.54% nickel and will be treated over a 26 year period. Once running at full capacity it has the potential to double our nickel output.
Our nickel business in China
In recent years we have exported large quantities of nickel to China to support its rapidly industrialising economy.