The metallic minerals sector in the Philippines experienced a slow start in the first quarter of 2024, with production value down 12.76 percent compared to the same period last year. The Department of Environment and Natural Resources (DENR) reported that the value of domestic metallic mineral production fell to P51.81 billion (approximately $880.77 million) from...
READ MORENovelis Initiates IPO Roadshow and Share Offering American metallurgical company Novelis has commenced a roadshow for its initial public offering (IPO), planning to offer 45 million common shares priced between $18 and $21. This move is expected to raise about $1 billion. However, Novelis itself will not benefit directly from the IPO proceeds, which are...
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POSCO and CNGR of China have commenced construction of a nickel refinery and precursor factories at the Youngil-bay No.4 industrial complex. The projects are a joint venture between POSCO CNGR Nickel Solution and CNP New Material Technology, focusing on precursor material production. The nickel refinery aims to produce 99% pure nickel for rechargeable batteries by...
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Nornickel, the world’s largest producer of Class I nickel, sees a smaller global nickel market surplus due to growing demand for nickel in the smelting and electric vehicle sectors, according to the market overview published on the company’s website. The miner expects 100,000 tons of surplus in 2024 and 2025. Although the surplus is smaller...
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The London Metal Exchange (LME) has approved the listing of the first Indonesian brand of refined nickel, a significant milestone for the global industry. The brand, “DX-zwdx,” represents Indonesia’s growing influence in the nickel market. Five years ago, Indonesia produced 600,000 metric tons of nickel, mainly shipping unprocessed ore to China for stainless steel production....
READ MOREThe Nadezhda Smelter in Russia’s Arctic city of Norilsk is gearing up for a large-scale overhaul of its second process line, starting on May 20, Vitaly Muravyov, Director of the Nadezhda Metallurgical Plant at Nornickel, announced. Nornickel, one of the world’s largest miners, has invested $340 million in this modernization project, marking the largest overhaul...
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LX International has announced plans to expand nickel production at the Adhi Kartiko Pratama (AKP) mine in Indonesia over the next three years. This decision comes in anticipation of increased demand for secondary batteries, despite a recent slump in the electric vehicle (EV) market. The AKP mine is located near the Morowali Industrial Park in...
READ MOREIndonesia Invites Elon Musk for Battery Plant Venture Proposal to Build Electric Vehicle Battery Plant The Indonesian government has extended an invitation to Tesla CEO Elon Musk to consider establishing an electric vehicle battery plant in Indonesia. This invitation aligns with President Joko Widodo’s strategy, initiated after his election in 2014, to transform Indonesia into...
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The London Metal Exchange (LME) has approved the listing of the first Indonesian brand eligible for delivery against the exchange’s primary nickel contract, bolstering the selling power of the world’s largest nickel producer. This milestone marks Indonesia’s emergence as a significant player in high-purity nickel production, which is traded on the LME, the world’s largest...
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The market for nickel-based alloys is forecast to reach $5,667.61 million by 2030, growing at a compound annual growth rate (CAGR) of 2.6% from 2024 to 2030. This growth is driven by increasing use in industries such as automotive, aerospace, oil and gas, power plants, and electronics. Nickel-based alloys are valued for their corrosion resistance,...
READ MOREFor the past few years, the West has been trying to break China’s grip on minerals critical for defense and green technologies. Despite these efforts, Chinese companies are becoming more dominant. They are expanding operations, supercharging supply, and causing prices to drop, making it hard for challengers to compete. “China is not just standing still...
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New Caledonia is experiencing unprecedented violence and economic instability due to falling nickel prices, despite holding 20% to 30% of the world’s reserves. The archipelago has been embroiled in a wave of violence not seen since the 1980s, resulting in six deaths and hundreds of injuries in one week. The unrest stems from a modification...
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In April, nickel prices saw a significant increase of more than 9%, driven by rising non-ferrous metal prices and strong market fundamentals. The main contradiction between nickel supply and demand is expected to shift, leading to continued strong price fluctuations in the short term. The Federal Reserve’s anticipated rate cuts have introduced fluctuations in market...
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Metal mining and processing are critical resources for New Caledonia, but the sector is on the brink of bankruptcy due to the lack of competitiveness of its factories and recent civil unrest. The nickel mining and processing industry, which is the archipelago’s main economic activity, has been severely weakened by riots and is now on...
READ MORENickel 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...
READ MOREArdea 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...
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