Mincor Resources

During 2000 Mincor bid and won the Miitel Nickel Mine and associated tenements after arranging debt and equity financing of $29 million. The deal was with WMC Resources and was signed on 21 November 2000, by February 2001 the acquisition was complete and just 4 months later Mincor had produced a full year profit before tax of over $4million.

Following in July 2001, the bid for WMC's Wannaway Nickel Mine was won and settlement occurred in September 2001. This making Mincor a two mine company with 10,000 tonnes p/a of nickel production and the second largest nickel sulphide producer in Australia.

Mincor now owns 100% of the Miitel, Mariners and McMahon mines in the Kambalda district as well as numerous other exploration and resource projects.

By the end of 2005 expansion of operations had seen 3 new mines, North Miitel, Mariners and Redross underway with an additional 41,000 tonnes of nickel metal.

Following years saw growth with Carnilya Hill and Otter Juan, both generating surplus of tens of millions of dollars. Today Mincor is a debt free company after 12 years of successful production and paying out dividends to shareholders. Mincor is one of Australia's most successful mining companies.