Minara pulls out of WA nickel projects

Minara Resources has pulled out of two Western Australian nickel joint ventures with Gryphon Minerals.

The JV arrangements were over the Collurabbie and Mt Rankin nickel projects, where Minara was to earn a 70 per cent interest in the nickel and base metals and 60 per cent on all other commodities.

Minara had so far contributed $2.7 million of the $5.5 million required to earn the interest.

Gryphon retains 100 per cent interest in both projects.