Note: This story was last updated at 11:37 a.m.
CVMR Corporation and Central America Nickel Incorporated have agreed to concentrate three million tons of ore per year in Guatemala and refine the concentrate in Oak Ridge. The refined products could be used in the aerospace and defense industries, and in the manufacturing of car parts, 3D printing and injection molds, and medical instruments and electronic parts.
“The joint venture expects to generate over $500 million a year (U.S. dollars) after commissioning and ramp up,” said Kamran M. Khozan, chairman and chief executive officer of CVMR Corporation.
The partnership was announced Thursday. See the press release here.
The announcement said CVMR and Central America Nickel, or CAN, will use CVMR’s proprietary chemical vapor metallurgy technology to concentrate the three million tons of ore per year in Guatemala and refine the concentrate in Oak Ridge, through CVMR and from CAN’s Santa Anita property in Guatemala. [Read more…]