News

January 24, 2008

European Nickel Still Waiting in the Woods

By Rob Davies

Simon Purkiss, managing director of AIM listed European Nickel, must be a patient man. When Minews asked him how things were going on the Çaldag nickel laterite project in Turkey he said the right things are happening. That seems to include everything except the Minister actually giving the company permission to fell 140,000 trees to start the earthworks required in preparation for the mine. Since Minews last wrote about the project Turkey has had an election and returned the same party to power. However, the people, local MPs and Ministers, are different and need to be educated about the benefits of the project. Puzzlingly, it seems everyone agrees that the project will be huge boost to the economy.

Indeed, Simon said that with the exception of a recent Vodafone deal this would be the largest British investment in Turkey. Simon has had many meetings with local bureaucrats and the Minister, who has been in place since October. All the infrastructure, roads and water supplies are in place and heavy equipment ordered but there is simply no progress. The company has even planted 60,000 trees in anticipation of the trees to be felled. All Simon could tell Minews was that a decision was getting...