La Compañía Procesadora de Níquel de Izabal (PRONICO) is a subsidiary of Solway Investment Group which created the company in September 2013 after purchasing the rights for the mining projects of FeNix and Montúfar in September 2011 with the acquisition of La Compañía Guatemalteca de Níquel (CGN) which develops its activity in the department of Izabal.
The company owns the nickel treatment plant situated in El Estor, Izabal, which is aimed at the production of ferronickel containing 2 parts of iron and 1 part of nickel sold in the international markets as a finished product.
The industrial complex was inagurated in May 2014 after being reconstructed according to ecological and industrial standards. Inicially, the complex was constructed in the late 70s with the construction process managed by INCO during three years, but since 1982 the complex has been abandoned.
PRONICO focuses their activities on the start-up of FeNiX development plan which comprises three stages. In the first 18 months the annual nickel production shoul reach 35 thousand tones of ferronickel (12 thousand tones of nickel), in the following 30 months - 75 thousand tones of ferronickel (25 thousand tones of nickel ) and in forth or fifth year the volume of production should be of approximately 150 thousand tones (50 thousand tones of nickel ).
Solway Investment Group Limited is a group of private mining enterprices engaged in extraction of the basic metal ores with the exception of chamoisites.
Company’s geography includes the EU, Central and Eastern Europe, South America, Africa and Australia.