Metals Insider has reported that Chinese nickel producer Jinchuan has improved its original USD 1 billion offer and asked the government to help it in negotiations to buy the mothballed Nonoc nickel mine and refinery in the Philippines.

Mr Peter Favila secretary of trade and industry of Philippines government said that Philippines government would try and help bridge the gap between Jinchuan and Nonoc owner Philnico after talks broke down some time back over the question of revenue split. He said “Jinchuan is going back to the negotiating table with government bridging the negotiations between the Chinese and Philnico. That is why they are communicating through us.”

Nonoc has been closed since the early 1980s but has the capacity to produce 41,000 tonne per year of nickel.