South 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...
READ MOREThe Philippines’ nickel production is expected to rebound next year, driven by increased demand for the metal, better weather conditions, and a more favorable policy environment with the anticipated enactment of a rationalized mining fiscal regime. Dante Bravo, a member of the board of trustees of the Chamber of Mines of the Philippines and president...
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