To have more access to Norwegian nickel resources, Blackstone Ventures Inc. have talked with Xstrata Nickel to acquire Xstrata Nickel's subsidiary Sulfidmalm A/S.

They have reached the agreement that Blackstone will spend US$15.5 million for this deal. The deal will be completed by December 31, 2010.

“Purchasing a 100 per cent interest in Xstrata's Norwegian subsidiary Sulfidmalm allows the company to directly control and accelerate the exploration and development for nickel sulphide deposits in Norway,” said Blackstone president Donald McInnes.