European Nickel has acquired 18.7 percent stake of Berong Nickel and 19.3 percent stake of Toledo Mining.

The two acquisitions are worth US$48 million. Atlas Consolidated Mining and Development Corp., the mother company of Berong Nickel and Toledo Mining, expressed welcome for the purchasing plan. European Nickel’s advanced mining technology can benefit the development of nickel mines.

Berong Nickel is the 4th largest nickel mine in the world, with estimate deposit of 275 million tons of about 1.3 percent nickel. Berong nickel has exported about 530,000 tons laterite ore of 1.5 percent nickel last year.