New Investment
Along with Freshwater, Dunnville, and Jerseyside, Argentia became part of Placentia in 1991.
In June 2002, Inco announced that an agreement had been reached with the Government of Newfoundland and Labrador on a three phase plan to develop the Voisey's Bay nickel deposit. The $1 billion initial phase of the Voisey's Bay agreement provided for infrastructure development at Voisey's Bay, a research and development program in hydrometallurgical processing, including a demonstration plant to be built at Argentia. It was ready to test concentrate by November 2005 to coincide with the first shipment from Voisey's Bay.
The demonstration plant was an initial step toward the ultimate development of a commercial hydrometallurgical processing facility to be constructed and operated in Long Harbour, Newfoundland. The commissioning of a 110-million pounds per annum processing facility was expected to occur in late 2011.
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