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Brazilian Nickel advances project financing with LOI for $550m
Brazilian Nickel announced on Monday that it has received a letter of interest (LOI) from the US International Development Finance Corporation (DFC) for a $550 million loan for its Piauí nickel project in Brazil.
Piauí is an advanced-stage nickel laterite heap-leach project with a mineral reserve of 99 million tonnes at grades of 0.84% nickel and 0.05% cobalt. It began production in 2022 at an average production rate of 27,000 tonnes of nickel and 900 tonnes of cobalt per year during the first 10 years of operation.
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