Commodity: Ferro-Nickel | Nickel Ore

Stage of Production: Producer


Cunico Resources NV (Cunico Resources, Cunico) is an international mining and metals company, specializing in the exploration, mining and manufacture of ferro-nickel. We are the largest ferro-nickel manufacturer in Europe and the fourth largest in the world.
Our headquarters are located in Amsterdam, Netherlands and our marketing function, in Dubai, United Arab Emirates. We have two major production plants operating in the Balkan: FENI Industries and the NewCo Ferronikeli complex, as well as two significant mining assets in Guatemala, Guaxilan and Mayaniquel. These mines have jointly secured over 40 years production life for Cunico’s smelting facilities. Today Cunico Resources is a fully integrated ferronickel producer that accounts for almost 10% of the global ferro-nickel production.
As the company has grown, we have built up a global reputation for producing the highest quality ferro-nickel products, in form of granules, always perfectly tailored to the needs of our clients. These standards of excellence have allowed Cunico Resources to secure long term relationships with many of our clients, some of whom are among the largest stainless steel producers in the world.

We currently employ more than 2,350 people worldwide.

Plans & Latest Developments:

Cunico Group is vertically integrated ferronickel producing holding, which consists of 3 standalone complexes:

  • Mining complex in Guatemala: 80m WMT of Ni ore reserves with 2.4m WMT p.a. production capacity (possible increase to 3.5 WMT p.a.)
  • Mining and smelting complex in Macedonia: large number of local mines with easy access to licenses (up to 100m WMT reserves); FeNi production with maximum capacity of 20,000 t Ni in ferronickel p.a.
  • Mining and smelting complex in Kosovo: 14m WMT of own Ni ore reserves and easy access to local mines; FeNi production with maximum capacity of 12,000 t Ni in ferronickel p.a.

Board of Directors / Management:

  • Jeremy Neads – Group director
  • Yusuf Mirakhmedov – Chief Executive Officer
  • Olga Ponkratova – Chief Financial Officer.

Major Shareholders:

  • IMR
  • Summerside

Why should investors invest in you?

1) Access to high grade nickel ore
• Guatemala high grade ore mines present great opportunities for Ni ore export when sources of Ni ore are now so limited
• Production of 2 ferronickel plants in Balkans is secured with own local ore base

2) Tier-1 ferronickel plants – low production cost
• 2 low-cost plants in Balkans – C1 costs are less than 80% of producers
• Low logistics costs from Balkans to China and Taiwan

3) Good climate for investment
• Macedonia has one of the best investment climate ratings in the world (#10 in the World bank doing business rating)
• Cunico management maintains good relations with government of Macedonia and Kosovo