In the face of competition and a significant drop in nickel prices, New Caledonia’s once-booming nickel industry stands on the precipice of collapse, potentially marking the end of the island’s dominance in the global nickel market. The situation has prompted French Minister of the Economy and Finance, Bruno Le Maire, to propose the “nickel pact”...
READ MOREIndonesia’s rapid ascension as a global leader in nickel production for the burgeoning electric vehicle and battery markets has transformed the lives of local communities and the environment, particularly in the Molucca Sea region encompassing Sulawesi, Halmahera, and Obi islands. The industrial expansion, driven by the desire to leverage nickel’s critical role in the green...
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Central Asia Metals has provided an operations update for the first quarter of 2024, highlighting steady metal production from its two main projects: the Kounrad copper recovery plant in Kazakhstan and the Sasa zinc-lead mine in North Macedonia. The company reported zero lost time injuries at both sites during this period. For the first quarter,...
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Nickel Industries, an Australia-listed company, is drawing significant attention from global automobile and battery manufacturers for its nickel supply from a new plant under construction in Indonesia. CEO Justin Werner revealed on Tuesday that over 25 companies have shown interest in purchasing 70,000-80,000 metric tons of nickel annually from the high-pressure acid leach (HPAL) plant...
READ MOREAndrew Forrest, the chairman of Fortescue Metals Group and a prominent Australian mining magnate, has made a compelling call to China, urging the nation to implement higher environmental standards within its global supply chain, especially concerning nickel processing activities in Indonesia. This appeal, highlighted in a recent Financial Times interview, underscores the environmental implications associated...
READ MOREShanghai Futures Exchange Sets Sights on Nickel Internationalization The Shanghai Futures Exchange (SHFE), China’s premier exchange platform, is embarking on an ambitious journey to internationalize nickel futures trading. This initiative aims to launch nickel contracts catering to the global market, challenging the longstanding dominance of the London Metal Exchange (LME) in setting benchmark prices for...
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The global nickel market, critical for electric vehicle (EV) battery production, is undergoing significant shifts with major miners like BHP, Anglo American, Glencore, and Wyloo grappling with the challenges posed by falling nickel prices. Since Elon Musk’s 2020 announcement promising a substantial contract to the largest nickel miners for Tesla, the demand for this essential...
READ MORESPC Nickel has commenced a significant metallurgical test work study on mineralization from its West Graham Ni-Cu Project. The study, conducted by Vale Canada, a subsidiary of Vale Base Metals, aims to evaluate the potential recoveries, mineralogy, and grindability of the project’s mineralization. This initiative follows the release of SPC Nickel’s Maiden Resource Estimate earlier...
READ MOREPT Harum Energy, an Indonesian coal mining company, has strategically expanded into the nickel sector by acquiring a controlling 51% stake in PT Blue Sparking Energy. This move, detailed in a stock exchange filing, involves the conversion of a loan to the nickel processing company into equity, with Blue Sparking issuing new shares valued at...
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Bindura Nickel Corporation (BNC), a key player in the nickel mining industry, has issued a warning to its shareholders and potential investors regarding an expected significant downturn in profitability for the remainder of the fiscal year 2024. This downturn is attributed to an extended shutdown period combined with the prevailing low nickel prices on the...
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The Shanghai Futures Exchange (SHFE) is set to explore and implement a nickel futures internationalisation strategy, the China Nonferrous Metals Industry Association (CNIA) disclosed in a recent report. This initiative seeks to capitalize on the evolving global nickel pricing landscape, according to Zhang Ming, the SHFE’s deputy general manager. In response to the challenges facing...
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Vale Indonesia has set its nickel production target at 70,800 tons for the year 2024, maintaining a stable output compared to the previous year’s production of 70,728 tons. This announcement was made in Jakarta by the company’s Head of Communication, Bayu Aji. Despite the fluctuating prices of nickel in the market, Vale Indonesia reported a...
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Global Commodities Holdings (GCHL) is collaborating with the Intercontinental Exchange (ICE) to establish a new nickel trading platform, responding to the market’s demand for a more regulated and reliable spot trading environment. This initiative emerges in the wake of the trading suspension chaos that enveloped the London Metal Exchange (LME) two years prior, highlighting the...
READ MOREIn a move to bolster its position in the electric vehicle (EV) battery materials market, Indonesia’s Antam has announced plans to commence the construction of two nickel processing facilities in 2025. This initiative is in collaboration with China’s Ningbo Contemporary Brunp Lygend, marking a significant step in Antam’s strategy to contribute to Indonesia’s vision of...
READ MOREIvanhoe Electric has successfully completed its earn-in, securing a 60% interest in the Samapleu-Grata Nickel-Copper Project in Ivory Coast. This milestone was announced following the disclosure of a new preliminary economic assessment for the project by Sama Resources on March 21, 2024, in compliance with Canadian National Instrument 43-101 standards. The project is now a...
READ MOREDespite the ongoing political strikes affecting rail transport and the war in Ukraine entering its third year, Finland continues to receive imports of Russian nickel and fertilizers. The government’s closure of checkpoints on the Russian border has not halted these deliveries, as neither commodity is currently subject to EU sanctions imposed on Russia. These critical...
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Indonesia’s strategic move four years ago to ban exports of nickel ore has led to a significant influx of foreign investment, primarily from China, aimed at boosting domestic processing capabilities. This policy has catalyzed a 250% increase in Indonesia’s nickel production since 2021, pushing nickel prices to hover near three-year lows. Currently, the three-month nickel...
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The global nickel markets have witnessed significant shifts, largely due to Indonesia’s assertive entry, offering cheaper supplies and thereby reshaping the competitive landscape. Notably, the price of nickel plummeted by more than 40% over two years, illustrating the impact of Indonesia’s aggressive market strategy. Despite this, there’s a consensus among experts that Russia, with its...
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Indonesia has taken a significant step in the mining sector by issuing production quotas totaling 152.62 million metric tons for nickel ore and 44,481.63 tons for tin ore within the current year, as stated by a senior official from the mining ministry during a parliamentary session on Tuesday. This move is part of the government’s...
READ MOREIn a recent announcement from Jakarta, PT Vale Indonesia is set to potentially invest in a new high-pressure acid leaching (HPAL) plant located on Sulawesi island. The project, which carries an estimated cost of 30 trillion rupiah (approximately $1.91 billion), aims to enhance the production of mixed hydroxide precipitate (MHP). MHP is a crucial component...
READ MOREIn a strategic move to bolster its lithium processing capabilities, Mineral Resources (MinRes) has confirmed a $15 million acquisition of a nickel concentrator plant, previously owned by Poseidon Nickel. The initiative marks a significant pivot towards repurposing the facility into a lithium processing hub located in the Goldfields region. Under the leadership of Chris Ellison,...
READ MOREThe Southwest Papua Provincial Government has expressed strong support for a Chinese investor’s plan to establish a nickel smelter and steel plant in the Sorong Special Economic Zone (SEZ), heralding a significant boost for the region’s economic development. This initiative aims to optimize the potential of the Sorong SEZ, aligning with the central government’s objectives...
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Indonesia’s meteoric rise as the world’s leading nickel producer has significantly disrupted the global nickel market, initially expected to thrive amidst the electric vehicle (EV) boom. However, a slowdown in EV sales and an oversupply of nickel have led to a drastic price drop, challenging both producers and consumers in the industry. In just a...
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In a striking turn of events, nickel, the worst-performing base metal in 2023 with a 40% loss in value, appears to have found a price floor early in 2024. After plummeting to $15,600 per tonne, a low not seen in at least three years, prices recovered mid-February to levels seen in November 2023. This stabilization...
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