News

March 16, 2010

African Eagle's Dutwa Nickel Laterite Project Is Generating Plenty Of Interest Amongst Potential Development Partners

By Alastair Ford

African Eagle managing director Mark Parker sounds in a reasonably confident frame of mind when he picks up the phone for a quick chat about progress at his company’s flagship Dutwa nickel laterite project in Tanzania. It’s not been that long since African Eagle first started promoting Dutwa as its lead project among a wide and varied African portfolio, but progress has been reasonably rapid, such that the ongoing pre-feasibility study could now be completed by the end of this year. More significant than the precise timing, though, is the high level of interest this project is now generating among potential project-level investors.

Mark reckons that any eventual development at Dutwa will be financed by an industry partner, so this interest is more than welcome. “I don’t think we’ll have any trouble raising money for the feasibility study”, he says. “The world is coming to us. I don’t think we’ll have trouble raising project finance either.” It’s all a far cry from the end of 2008 when African Eagle was just beginning to get its teeth into Dutwa, right at the time the nickel price went through the floor. It was no wonder...