Poseidon Nickel Brings New Life to Old Mine in Energy Digital
Western Australia is the world's fourth largest nickel province, but the nickel bust in the late 1980s saw a decrease in price for base metals, resulting in the closing of several nickel mines throughout the region
SAN DIEGO, CA, May 20, 2011
Energy Digital takes a look at Poseidon Nickel. Western Australia is the world's fourth largest nickel province, but the nickel bust in the late 1980s saw a decrease in price for base metals, resulting in the closing of several nickel mines throughout the region. In the late 1990s, Western Mining--later acquired by BHP Billiton--began selling off the nickel mines to independent mining companies seeking to use new technologies to revitalize nickel production in Western Australia. Startup company Poseidon Nickel acquired the Windarra Mountain nickel mine from BHP Billiton for remediation. But Poseidon quickly realized that it acquired much more than originally expected."The technology available for discovering nickel, and the geological understanding of how nickel is formed, has changed radically since the mines closed in the 1980s," says Poseidon Nickel Managing Director and CEO David Singleton. "Lava channels are now known to be host to nickel deposits, which tend to occur one-and-a-half to two kilometers apart along these channels. Poseidon acquired two nickel mines that are about 24 kilometers apart. We felt like there could potentially be a number of deposits lying in between these two mine sites. In late 2007 through 2008, in preparation to open the existing mine at Windarra, we set out to explore the possibility of greater nickel deposits along the geological belt. In 2008, in our very first truly regional exploration program, we discovered a new nickel ore deposit that we named 'Cerberus.'"
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