RNC Minerals announced the results of its most recent feasibility study Thursday on its Dumont nickel and cobalt joint venture with Waterton located in the Abitibi region in Quebec, resulting in significantly lower capital expenditure but lower net present value and mine life.

RNC claims the project represents the world’s second largest nickel reserve with proven and probable reserves of over 1 billion tonnes of ore grading at 0.27 per cent nickel and 107 ppm of cobalt, resulting in contained metal estimate of 6.1 billion pounds of nickel and 243 million pounds of cobalt. The report also shows additional measured and indicated resources of 9.75 billion pounds of nickel and 394 million pounds of cobalt from 1.65 billion tonnes of ore. The feasibility study, led by Ausenco, details a mine that is expected to process over a billion tonnes of ore over a 30 year life of mine, producing 33,000 tonnes of nickel per year and increasing to 50,000 per year following a phase two expansion.