The nickel market, which heavily relies on demand from the stainless steel and electric vehicle (EV) sectors, is proving to be challenging to forecast due to its volatility. After a significant spike in 2022 triggered by geopolitical events, nickel prices have since stabilized but remain sensitive to shifts in market conditions. Nickel demand is closely...
READ MORENickel miner Prony Resources New Caledonia is gearing up to restart production after a six-month suspension caused by civil unrest in the French territory. The company, which operates the Goro mine and a plant producing battery-grade nickel, has brought its staff back to the facilities as it prepares for a resumption of activities, according to...
READ MOREKorea Zinc, the world’s largest producer in the non-ferrous metals sector, has had its patented technology for processing secondary battery precursors officially recognized by the South Korean government as a national core technology. This designation means that the government will manage the technology with special oversight, particularly in matters of mergers and acquisitions involving foreign...
READ MOREBHP Group’s Australia President, Geraldine Slattery, has warned that the nation can no longer rely solely on its traditional mining export markets and is unprepared to face a new era of lower-cost competitors. Speaking in Brisbane on Monday, Slattery highlighted that the boom in demand from China’s industrialization has now moved past its aggressive growth...
READ MOREIn October, China produced 178,800 tonnes of nickel sulfate, equivalent to 39,300 tonnes of nickel content, reflecting a 2.71% month-on-month (MoM) decline, according to a survey by Mysteel. The production was derived from various sources, including mixed hydroxide precipitate (MHP), high-grade nickel matte, and secondary nickel. The nickel sulfate production is expected to decline further...
READ MOREIndustry sources indicate that the incoming Trump US administration is planning to adopt a stricter approach toward allowing Chinese-owned or operated raw materials, such as nickel, to qualify for credits under the Inflation Reduction Act (IRA). Washington insiders told Fastmarkets that one of the new administration’s early actions will likely be to tighten the Foreign...
READ MORESecuring nickel that complies with the Inflation Reduction Act (IRA) requirements is expected to become even more challenging. The US president-elect, Donald Trump, is likely to adopt a zero-tolerance approach to allowing Chinese-owned or operated supplies of raw materials like nickel to qualify for IRA credits. Washington sources told Fastmarkets that one of the first...
READ MORENickel Asia Corporation (NAC) has reported a 30% decline in net income for the first nine months of 2024, mainly due to weaker nickel ore prices. The mining firm’s net income fell to PHP 2.55 billion (USD 45.1 million), down from PHP 3.65 billion (USD 64.5 million) during the same period last year. The company’s...
READ MORENickel processing company PT Vale Indonesia Tbk (INCO) has officially signed a cooperation agreement with Chinese firm GEM, for the development of a net-zero nickel processing facility in Central Sulawesi. The signing took place in Beijing this week and was witnessed by Indonesian President Prabowo Subianto during his visit to China. The $1.4 billion project...
READ MOREThe Monel market is experiencing significant downward pressure at the start of Q4 2024, driven primarily by declining nickel prices and challenges within the manufacturing sector of major economies. Monel, a nickel-copper alloy known for its exceptional corrosion resistance and strength in marine and chemical processing applications, is being impacted by changing market dynamics shaped...
READ MORENorsk Titanium has secured ongoing funding from the US Department of Defense (DoD) to enhance its production capabilities for nickel superalloy components using its proprietary Rapid Plasma Deposition (RPD) technology. This funding aims to refine the manufacturing process for these components, which are widely used in the defense and oil and gas sectors for their...
READ MOREA critical minerals agreement with the United States could help reduce the Philippines’ dependence on Chinese and Indonesian exports and enable the country to focus on producing nickel suitable for battery use, according to Nickel Asia Corp. President and CEO Martin Antonio G. Zamora. Speaking at the Pilipinas Conference 2024, Zamora explained that China, the...
READ MOREJérôme Baudelet, CEO of nickel producer Eramet Indonesia, predicts that Indonesia will become the world’s largest nickel producer in the next decade, thanks to significant increases in production volumes. In 2023, Indonesia supplied 55% of the world’s total nickel production, highlighting the country’s growing influence on the global nickel market. Baudelet expects that by 2034,...
READ MOREZhejiang Huayou Cobalt, among the largest nickel producers globally, is in discussions with banks for $2.7 billion in financing for its Ford-backed battery-grade nickel project in Indonesia, sources familiar with the matter have indicated. The project aims to boost nickel production for electric vehicles. HSBC and Standard Chartered are arranging the loan and inviting additional...
READ MOREWith the United States aiming for greater energy independence, Alaska’s mineral-rich deposits could play a crucial role in reducing reliance on imports. Amid this rising demand, Canadian mining company Alaska Energy Metals (AEM) is focusing on exploring Alaska’s underground nickel deposits, seeing it as a strategic opportunity to bolster the domestic supply chain. Greg Beischer,...
READ MORESouth Korean battery materials producer L&F Company announced plans to begin production of nickel-cobalt-manganese (NCM) cathodes for battery electric vehicles (BEVs) by the end of 2024. The new cathodes will feature 95% nickel content, the highest used so far in BEV battery cathodes. The company made the announcement during its third-quarter earnings presentation, revealing a...
READ MORENornickel released its production results for the first nine months and the third quarter of 2024, showing mixed trends across different metals. From January to September 2024, nickel production rose by 0.3%, reaching 146.2 thousand tons, while copper output increased significantly by 7%, totaling 326.1 thousand tons. Palladium production also saw a slight increase of 1%, totaling...
READ MORENickel Industries is strengthening its position as a major global nickel resource holder through strategic acquisitions in Indonesia. In August 2024, the company acquired the Sampala project and a 51% stake in the Siduarsi project, amid a severe nickel ore shortage in Indonesia. This shortage has driven a 45% increase in local nickel prices since...
READ MOREJapanese trading house Sumitomo announced on Thursday that it had resumed production at the Ambatovy nickel and cobalt project in Madagascar at the end of October, following a pipeline issue in September. While production has restarted, the company is currently reviewing future output volumes. Sumitomo has faced challenges stabilizing production and improving profitability at Ambatovy,...
READ MOREStillwater Critical Minerals has signed a Letter of Intent (LOI) with Granite Creek Copper, allowing Granite Creek to acquire a 90% interest in the Duke Island copper-nickel-platinum-palladium (Cu-Ni-PGE) project. The all-share transaction aligns with Stillwater’s strategic focus on its flagship Stillwater West project in Montana. The Duke Island project, located in the Alexander Platinum Belt...
READ MOREAccording to an October 23 report, despite the ongoing closure of nickel mines in Australia, raw nickel production in the Asian market has continued to rise into the fourth quarter of 2024, leading to weak pricing. Declining sales of power batteries in China and subdued demand for stainless steel have further contributed to a bearish...
READ MORENickel prices are expected to remain under pressure due to a substantial market surplus and the recent discovery of nickel at the Wedei prospect in Papua New Guinea (PNG), according to analysts. Research agency BMI, a unit of Fitch Solutions, has revised its 2024 forecast for nickel prices down from $18,000 per tonne to $17,300...
READ MORENickel prices are expected to remain under pressure as the market struggles with a substantial surplus and new supply prospects. Analysts point to the recent discovery of nickel at the Wedei prospect in Papua New Guinea (PNG), which has contributed to the challenging market conditions by increasing production and exacerbating oversupply concerns. “Our nickel price...
READ MOREIndonesia plans to begin exporting nickel-based materials for electric car batteries to the United States in November, marking a significant step in the country’s expanding role in the global electric vehicle (EV) supply chain. Energy Minister Bahlil Lahadalia announced that these precursor materials for battery production would be supplied to Tesla, although details on the...
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