Founded 1980 | ||
Canico Resource Corp. is a Vancouver, British Columbia-based junior resource company focused on the development of the Onça-Puma nickel laterite project located in Para State, Brazil. This is a large, high-grade, open-pittable deposit which is one of the world's best undeveloped nickel projects.
According to the feasibility studies, the plant will have a nominal capacity to produce 57,000 tons of nickel per year, and its development will demand investments of US$1.1 billion. Production startup of the first module was scheduled for 2008.
Canico Resource was acquired by Companhia Vale do Rio Doce (CVRD) in December 2005. CVRD, a Brazilian company, headquartered in the city of Rio de Janeiro, Brazil, is the largest metals and mining company in the Americas and one of the largest in the global metals and mining industry.