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Axiom’s milestone signifies the first time in the Isabel nickel project’s history that an owner has been granted a mining lease.
Previous San Jorge tenement owner and former nickel major, Inco Ltd (now owned by Brazilian mining giant Vale) conducted feasibility studies during the 1970s based on results from over 7000 drill holes and pits and 10,000 samples.
In 1991, Kaiser Engineers completed its own study on Inco’s data, determining preliminary capital and operating expenditures and conducting economic analyses and financial modelling.
Development by either owner did not progress further due to a failure to win the support of customary landowners from the Kolosori and Bungusule tribes.