Analytics recap. Nickel. Early December. Based on analysis by the Financial Times. The London Metal Exchange (LME) clearing house, a crucial organization created to stop problems in one market from spreading to the wider financial system, was in danger of failing in March, according to judicial files disclosed this week. According to the documents, the LME’s clearing house suffered a...
Base Metals
LME hopes to resume nickel trade in Asian hours after March price spike
LME was forced to suspend the nickel market and cancel all trades on 8 March, after prices spiked more than 50% to hit a record above USD 100,000 per tonne within a few hours. And although nickel trading resumed on 16 March after daily price limits were introduced, it wasn’t available during Asian hours. Now it’s set to resume. Who...
Global copper deficit to reach 8 million tonnes by 2032
Codelco, the world’s largest copper producer, warned on Thursday that global shortages of the metal may reach eight million tonnes by 2032, as new projects can’t catch up with soaring demand. What Maximo Pacheco, Chairman of the Board of Codelco, said at an industry conference that while a surplus is expected in the short term thanks to new projects in...
Canadian gold company sells off nickel assets
Wallbridge Mining sells all its nickel assets to Archer Exploration Corp. Who Canadian gold company Wallbridge is selling all the property, assets, rights and obligations associated with its nickel portfolio to Archer Exploration Corp, also based in Canada. The value of the deal is estimated to be around CAD 53.6 million in Archer shares (approximately 19.9% of outstanding common shares),...
Arconic sells its Russian operations for USD 230 million
As Russia’s invasion of Ukraine shows no signs of stopping, US-based lightweight metal engineering and manufacturing company Arconic has sold off its Russian assets. Who To comply with sanctions against Russia, Arconic sold its Russian operations to the majority owner of the state-backed metals company VSMPO-AVISMA for cash. The key property changing hands is the Samara Metallurgical Plant. Why it...
Nickel prices rise amid falling supplies and market volatility
Analytics recap. Nickel. Mid-November. Based on analysis by the Financial Times. Nickel prices have reached a six-month high, in a continuation of the market deterioration that has been observed since March. On Monday, the three-month nickel contract briefly hit a daily trading limit of 15%, reaching nearly USD 31,000 per tonne. This was followed by a 5% increase on Tuesday...
USD 23 billion per year over the next three decades needed to supply copper for zero-carbon targets
Achieving current climate targets to potentially save the world from catastrophe will require hundreds of billions in copper investments. Who Analysts from Wood Mackenzie claim that 9.7 million tonnes of copper are needed over the next 10 years to cover the projects necessary to hit goals outlined in the Paris Agreement targets, an increase of almost a third over current...
Nevada Copper restarts extraction at Pumpkin Hollow
After the signing of a financing package that will provide up to $123 million in liquidity, Nevada Copper is set to restart operations at its Underground Mine location within the larger Pumpkin Hollow reserve. The resumption of copper extraction at the site comes with an optimised plan to bring the mine’s life-cycle value forward by incorporating the larger, higher-grade East...
Nickel Creek Platinum completes drilling project at Yukon flagship asset
Nickel Creek Platinum has announced the completion of a drilling and geophysics programme conducted in Yukon, Canada, as part of the Nickel Shaw Project. The project involved a total of 3,300 metres of drilling, 2,000 metres of which comprised a Prefeasibility Study (“PFS”) at the Wellgreen deposit. Eight holes were drilled to support the conversion of mineral resources from inferred...
Germany calls for ‘precautionary pause’ on deep-sea mining
The German government has appealed to the International Seabed Authority to put deep-sea mining activities on hold while an assessment of regulations and potential environmental damage is conducted. The announcement comes after the climate activist group Ocean Rebellion staged a protest against the Hidden Gem drill ship in Rotterdam in February 2022. Spain and New Zealand have previously made similar...