Glencore has decided to divest its 49% interest in a significant nickel mining operation, marking an exit that includes a $4 billion (£3.2 billion) investment write-off. This move comes shortly after the company adjusted its performance outlook downwards due to a declining global nickel market. The stake in the Koniambo nickel mine was acquired through...
READ MORERimfire Pacific Mining has launched a 4,000-metre aircore drilling program at its Murga Scandium Prospect, located within the company’s Fifield Project, roughly 70 kilometres northwest of Parkes in the Lachlan Orogen region of central New South Wales. The drilling at Murga aims to delineate the extent and continuity of scandium mineralization, following on from previous...
READ MORE
Nickel 28 Capital Corp has reported a slight decrease in production, but maintained strong operational efficiency throughout the year. In the fourth quarter of 2023, Ramu produced 7,825 tonnes of nickel, marking an 8% decline compared to the same period in the previous year, primarily due to unplanned outages caused by earthquake events. Despite this,...
READ MORE
Vale Indonesia has reported significant growth in its nickel matte production and sales volumes over the last year, highlighting a remarkable performance despite numerous challenges. In 2023, INCO produced 70,728 metric tons of nickel in matte, marking an 18% increase from the 60,090 tons produced in 2022. Febriany Eddy, CEO and President Director of Vale...
READ MORE
Glencore revealed plans on Monday to divest its interest in Koniambo Nickel SAS (KNS) in New Caledonia, alongside a decision to suspend operations at KNS’s processing plant for six months as it seeks a new investor for the operation currently incurring losses. Amid efforts to rejuvenate New Caledonia’s faltering nickel industry, France has proposed state...
READ MORE
In a decisive move to counter the recent downturn in nickel prices, China and Indonesia are anticipated to slash their nickel production by at least 100,000 metric tons this year. This strategic reduction comes as producers aim to mitigate losses triggered by the metal’s price slump, vital for manufacturing stainless steel and electric vehicle batteries....
READ MORECobalt Market Dynamics Glencore Adjusts Cobalt Production Glencore, a major player in mining and metals, has decided to cut back on its cobalt production. This year’s output is projected to be between 35,000 and 40,000 tonnes, a reduction from last year’s 41,300 tonnes. This decision comes in the wake of declining cobalt prices observed throughout...
READ MORE
In the ever-fluctuating world of metals, Norilsk Nickel, the global titan in palladium and top-tier nickel producer, faced a turbulent 2023. With the markets taking a roller coaster ride, the company’s financials mirrored the ups and downs. Last year’s revenue took a 15% hit, dropping to $14.4 billion, as the prices for its core metals...
READ MOREIndonesia, a nation of 280 million people, has experienced remarkable economic and infrastructural growth, much of it under President Joko Widodo’s decade-long leadership. Widodo, popularly known as Jokowi, has been pivotal in propelling Indonesia from a per capita income of $350 three decades ago to $5,000 today. His tenure has seen the development of Jakarta’s...
READ MORE
Nickel prices on the global market have plummeted to their lowest levels since November 2020, dipping below $16,000 per ton, according to the London Metal Exchange (LME). The decline, which saw prices fall to $15,600 per ton before stabilizing around $16,025 per ton, has led to significant operational losses across half of the industry’s enterprises,...
READ MORECanada Nickel announced its plans to establish two new processing facilities through its subsidiary, NetZero Metals, in the Timmins Nickel District. The proposed facilities include a nickel processing plant and a stainless-steel and alloy production facility. These developments aim to provide a significant boost to the Timmins Nickel District, contributing to the North American critical...
READ MORECanada Nickel has initiated a virtual open house for its Crawford Nickel Project, running from January 31st to February 22nd, 2024, to engage the public and gather feedback. This event is part of the company’s ongoing provincial and federal impact assessments for the proposed nickel mine and processing facility located 42 km north of Timmins,...
READ MOREHarita Nickel is aiming to significantly boost its ferronickel production to 120,000 tons in 2024. The company’s CEO, Roy Arman Arfandy, disclosed that this target would be achieved with the support of its two Rotary Kiln Electric Furnace (RKEF) smelters. The Megah Surya Pertiwi (MSP) smelter is expected to produce 25,000 tons of ferronickel, while...
READ MORE
Australia’s nickel industry is under significant threat, with potential job losses of up to 10,000 and investments worth $1.8 billion at risk if the sector collapses, according to a new report commissioned by the Chamber of Minerals and Energy WA and authored by Madala. Released today, the report highlights the dire situation facing the nickel...
READ MORESumitomo, a Japanese trading firm, has revised its nickel production forecast at the Ambatovy project in Madagascar for the fiscal year April 2023 to March 2024. Initially projected to produce around 40,000 tonnes of nickel, the company has now adjusted its output expectations to just over 30,000 tonnes, citing operational issues that arose towards the...
READ MORE
Glencore has announced a decrease in its production of copper, nickel, and cobalt for 2023, with expectations set for continued declines into the current year. These materials, crucial for electric vehicle manufacturing, have seen a downtrend in output amid broader industry challenges. Analysts from Jefferies point out that production hurdles are becoming increasingly common across...
READ MOREThe Indonesian nickel industry’s rapid expansion is significantly impacting the global nickel market, leading to a substantial drop in prices and challenging producers worldwide. The nickel price on the London Metal Exchange (LME) has plummeted by nearly half over the last 13 months. This downturn has prompted Australian mining companies like Wyloo Metals and BHP...
READ MOREBrazilian mining giant Vale announced its 2023 production results, showing a contrasting performance in nickel and copper outputs. Nickel production fell by 7.9% to 164,900 tons, primarily due to a significant output decline at Canada’s Boise Bay mine and a slight reduction at the Sudbury mine. Despite this, Vale expects nickel production to stabilize in...
READ MOREIn a significant turn of events in the global nickel market, Australian battery minerals specialist IGO has announced the closure of its Cosmos nickel mine in Western Australia’s Goldfields region, a decision affecting approximately 400 jobs. This move highlights the growing impact of Indonesia’s booming nickel industry on Australian mining operations. IGO Chief Executive Ivan...
READ MOREIndonesia’s aggressive expansion in the nickel industry is reshaping the global market and challenging mining operations worldwide. With its market share skyrocketing to 55% in 2023, up from 16% in 2017, Indonesia has become the dominant force in nickel production, causing concern among Western nations and sparking a “Darwinian” battle for survival among miners. The...
READ MOREVale has exceeded market expectations by producing 70,728 tons of nickel in Indonesia for the fiscal year 2023, surpassing the anticipated 69,451 tons. This achievement highlights Vale’s operational efficiency and its ability to meet or exceed production targets in the competitive mining sector, particularly in the context of growing demand for nickel in industries like...
READ MOREIndonesia’s nickel mining industry is gearing up for a challenging year in 2024, as global oversupply persists amid a decline in demand. Despite worldwide announcements of production cuts and mine closures, the expected boost in nickel prices has yet to materialize, leaving analysts skeptical about a swift recovery. Amidst the uncertain market conditions, Bayu Aji,...
READ MORE
In response to the mounting challenges faced by nickel and lithium producers in Australia, the federal and Western Australia (WA) state governments are contemplating the introduction of financial incentives, including production tax credits and royalty reliefs. This initiative aims to alleviate the pressures on these key sectors of the battery metals market, which have seen...
READ MORE
The ongoing slump in nickel prices is exerting unprecedented pressure on global nickel producers, heightening the risk of significant mine closures. This trend is poised to further cement Indonesia’s stronghold on the worldwide nickel supply, given its resilience against production cutbacks. Nickel, a critical element for stainless steel and electric vehicle batteries, has seen its...
READ MORE
