Nickel 28 Capital has released the operational results for the first quarter of 2024 for the Ramu Nickel-Cobalt operation in Papua New Guinea. Nickel 28 holds an 8.56% joint-venture interest in Ramu, which is operated by the Metallurgical Corporation of China (MCC). For Q1 2024, Ramu produced 8,282 tonnes of contained nickel in mixed hydroxide...
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In April, nickel prices experienced a significant rise of over 9%, driven by the resonance of non-ferrous metal prices and strong fundamental support. This trend is expected to continue in the short term as supply and demand dynamics shift. The Federal Reserve’s fluctuating interest rate cut expectations, coupled with concerns about a potential recession and...
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Ardea Resources has entered into a 50:50 joint venture with Japan’s Sumitomo Metal Mining (SMM) and Mitsubishi to develop the Kalgoorlie Nickel Project (KNP) – Goongarrie Hub deposit in Western Australia. Recognized as one of the largest nickel-cobalt deposits in the region, the Goongarrie Hub boasts 854 million tonnes of lateritic ore with average grades...
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According to Mohammad Faizal, director for downstream strategic investment at Indonesia’s Investment Ministry, the country’s nickel reserves are more than adequate to sustain its processing industries for many decades. Speaking at an industry conference in Jakarta organized by consultancy Mysteel, Faizal provided insights into the longevity of Indonesia’s nickel resources—high-grade reserves are estimated to last...
READ MOREStrategic Maneuvers in the Global Nickel Market: US and Philippines Eye Reduction in Chinese Dominance Countering China’s Nickel Dominance The US and the Philippines are reportedly in talks to strategize against China’s leading position in the nickel market of Southeast Asia, aiming to lessen the reliance of electric car battery manufacturers on Chinese supply. A...
READ MOREAluminium producers from the Gulf Cooperation Council (GCC) are set to increase their exports to the US and European markets, responding to new trading bans on Russian aluminium, copper, and nickel. The sanctions, enforced by the US and UK to limit Russia’s revenue from metal exports, are reshaping global trade flows, creating opportunities for GCC...
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The United States is in preliminary discussions with the Philippines to formulate a strategy aimed at countering China’s stronghold on nickel processing. This initiative is particularly significant as nickel is essential for manufacturing electric vehicle batteries. The plan includes a potential trilateral agreement where the Philippines would provide raw nickel, the U.S. would contribute financing,...
READ MORESumitomo Metal Mining and Mitsubishi Corporation have finalized an agreement with Ardea Resources to develop the Kalgoorlie Nickel Project – Goongarrie Hub in Western Australia. Together, they will form a joint venture to finance the definitive feasibility study for the project with a budget of 98.5 million AUD. This joint venture will ultimately hold a...
READ MOREIndonesian coal company PT Harum Energy is strategically transitioning its business focus towards nickel mining, in preparation for the global shift towards cleaner energy sources. President Director Ray Antonio Gunara revealed in a recent interview that the company is halting further investments in its coal operations to maintain only the current production levels. Instead, Harum...
READ MOREFirst Quantum Minerals has announced the closure of its Ravensthorpe nickel operation in Western Australia, citing unsustainable financial models, elevated operational costs, and a dim forecast for nickel prices in the coming years. The decision follows an initial halt in mining activities in January, with the company originally planning to process existing stockpiles until potentially...
READ MOREMerging Titans: A Closer Look at BHP Group’s Intentions and the Global Metals Market BHP Group’s Merger Proposal to Anglo American International mining giant, BHP Group, has proposed a merger with its rival, Anglo American. The proposed deal is valued at approximately $39 billion. BHP Group, with a market valuation of $149 billion, aims to...
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The Russian Federal Subsoil Resources Management Agency (Rosnedra) has early terminated the mining licenses of Mednogorsky Medno-Sulfur Combine (MMSC) for the Yelanskoye and Yelkinskoye copper-nickel deposits in the Voronezh Region. This action follows MMSC’s own application for license termination, citing economic reasons as the basis for discontinuing operations at these sites. As reported by Rosnedra,...
READ MORENornickel, the world’s largest supplier of refined nickel and palladium, confirmed operational plans for this year in a report highlighting mixed first quarter results. The group’s production of nickel, used in stainless steel and high capacity batteries, was down by 10% to 42,101 thousand tonnes, while production of copper, a key metal for power utilities,...
READ MOREAccording to the International Nickel Study Group (INSG), global primary nickel production is projected to fall by 5.6% to 3.356 million tonnes in 2024, following a significant increase of 16.1% last year which saw production levels reach 3.554 million tonnes. This forecast does not account for any major operational disruptions that could further impact production...
READ MOREIndia is set to hold a significant auction in June, offering 20-30 blocks of strategically important minerals as the country’s demand for essential resources continues to surge. Kantha Rao, the Secretary of the Ministry of Coal and Mines, highlighted this initiative in discussions with the *Financial Times*, noting the auction’s crucial role in meeting India’s...
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Saudi Arabia is making significant strides in the global mining sector as part of its broader strategy to diversify its economy beyond oil. The nation has recently launched several initiatives to enhance its presence in the international mining landscape, supporting the ambitious Vision 2030 and National Transformation Plan. In January 2023, Saudi Arabia established Manara...
READ MOREUS Sanctions Impact Russian Non-Ferrous Metals US Treasury Implements Sanctions on Key Metals The US Treasury Department has initiated a significant policy by banning the import of three non-ferrous metals from Russia: aluminum, copper, and nickel. This decision prohibits US companies from engaging in any buying or selling activities involving these metals both domestically and...
READ MOREOn December 18, BHP, the Australian resources company, announced its production results for the third quarter of the fiscal year ending June 30, 2024. The report highlights a 10% increase in copper production year-on-year, totaling 1.36 million tons. This rise was largely due to the recent acquisition of OZ Minerals, which contributed significantly with its...
READ MOREMining giant BHP has laid out a plan for a comprehensive review of its Nickel West operations, responding to the current subdued market for nickel. The reassessment, which has been in progress for some months, is part of the company’s broader strategy to determine the future path for its nickel assets, including the West Musgrave...
READ MORENonferrous metals saw prices climb in Thursday’s trading, buoyed by a retreating U.S. dollar as investors recalibrated their expectations for the country’s interest rates. The trend of the dollar distancing itself from recent highs is creating a more favorable environment for metal commodities priced in the greenback. Copper, a bellwether for economic health, witnessed a...
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Nornickel has expressed concerns following the recent sanctions imposed by the US and the UK on the import of aluminum, nickel, and copper from Russia. A company spokesperson stated that these restrictions are likely to increase market volatility, heighten supply chain uncertainties, and ultimately escalate the prices for end users globally. The representative emphasized that...
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EV Nickel Inc. has initiated its 2024 exploration program, focusing on expanding its nickel resources near Timmins, Ontario. The program follows the successful closure of a $5.12 million financing, which will fund extensive geophysical surveys, metallurgical tests, surface mapping, sampling, and diamond drilling activities. The primary focus of the exploration will be the CarLang A...
READ MOREThe global demand for raw materials essential for the energy transition and climate change initiatives has surged, yet the extraction rates are declining due to the unprofitability of new mining projects. This dynamic is creating a significant investment opportunity in commodities as prices have notably increased across the board. In a remarkable two-month span, the...
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The United States and the United Kingdom have enacted stringent sanctions on Russian metals, banning imports and trading of aluminium, copper, and nickel on major Western exchanges like the Chicago Mercantile Exchange (CME) and the London Metal Exchange (LME). These measures, effective for metals issued after April 13, aim to sever the flow of these...
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