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Strategic Minerals boss says project switch creates better return for shareholders

Strategic Minerals (LON:SML) has moved away from bulk metals like iron and coal, securing an option to acquire up to 50% of an Australian firm with nickel and rare earth exploration potential.

John Peters, executive chairman, said: “This opportunity came along in a sector that we believe has good medium and long-term prospects.”

In a separate statement, the group said it had stopped activity on its Tatu coal project in New Zealand to concentrate on this new project.

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