http://www.miningweekly.com
R/€ = 15.92 Change: 0.03
R/$ = 14.18 Change: -0.01
Au 1325.53 $/oz Change: 3.46
Pt 1074.50 $/oz Change: -0.50
 

Nickel News

Vale ordered to pay C$30 000 for 2013 Voisey’s spill

By: Henry Lazenby     26th August 2016 A Vale subsidiary has been ordered to pay C$30 000 in penalties for a 2013 incident, where untreated and acutely lethal effluent was discharged from the Voisey’s Bay nickel mine, in Newfoundland and Labrador, into the Anaktalak Bay. The St Johns provincial court ordered Vale Newfoundland and... 

Noront expands RoF land-holdings, outlines exploration and development strategies

By: Henry Lazenby     26th August 2016 Northern Ontario-focused project developer Noront Resources has increased its position as the dominant land-holder in the prospective Ring of Fire (RoF) mining camp after closing the acquisition of 75% of MacDonald Mines’ claims in the region, the company said this week. Through the transaction,... 

Nickel price hurts Western Areas' 2016 results

By: Mariaan Webb     25th August 2016 A significant reduction in the nickel price has dented Perth-based miner Western Areas’ revenue in the 2016 financial year, pushing the company into an after tax loss of A$29.78-million. The 2016 loss compares with a profit of A$35.01-million in the 2015 financial year, Western Areas, which is... 

Tightening supply should bode well for commodity prices – Glencore

By: Martin Creamer     24th August 2016 Diversified mining and marketing company Glencore, now with a significantly reduced debt profile, is producing its key commodities at exceptionally low operational cost, exemplified by the unit cost of the zinc it produced in the six months to June 30 coming in at the negative unit cost figure of... 

Tightening supply should bode well for commodity prices – Glencore
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Panoramic hikes Savannah North resource

By: Mariaan Webb     24th August 2016 ASX-listed base metals company Panoramic Resources has upgraded the Savannah North resource to 175 100 t of nickel, 74 400 t of copper and 15 300 t of cobalt, representing a 60% increase in the contained nickel on the maiden resource estimate. The combined resource at the Savannah project, in... 

Buxton and Independence Group form Fraser Range JV

By: Mariaan Webb     24th August 2016 ASX-listed junior Buxton Resources has granted fellow listed Independence Group (IGO) the sole and exclusive right to acquire a 90% interest in the Zanthus and Widowmaker tenements, in the Fraser Range, Western Australia, for $1.5-million in cash. Under a joint venture (JV) announced on... 

We did it, you should too: Ore-ban talk gathers pace in Asia

By: Bloomberg     22nd August 2016 The Philippines should follow Indonesia’s lead and prohibit the export of raw metal ores, according to National Development Planning Minister Bambang Brodjonegoro, who said he was a big supporter of the curbs imposed by his country and results so far have been a success. The restrictions have... 

‘Walk the walk’ is miners’ mantra as Philippines cracks down

By: Bloomberg     17th August 2016 Toe the line. That’s the call from the mining association in the world’s biggest nickel ore supplier where members are facing a crackdown led by Philippine President Rodrigo Duterte, who’s said the Southeast Asian nation can live without the industry’s contribution entirely if need be. Members... 

Axiom retracts PFS announcement

By: Samantha Herbst     16th August 2016 The Australian Stock Exchange (ASX) has requested metals developer Axiom Mining to retract its prefeasibility study (PFS) announcement, published last week, as it does not own the Kolosori prospecting licence. Axiom said in a trading statement on Tuesday that, while it had had ownership of the... 

Vital raises A$1m to step up activities in West Africa, Australia

By: Samantha Herbst     16th August 2016 ASX-listed junior Vital Metals has raised about A$1-million to advance ongoing gold exploration activities in West Africa, where it recently commenced drilling at its 100%-owned Kollo gold project, in Burkina Faso, to in-fill and extend high-grade gold mineralisation. The proceeds will also be... 

UBS makes a bugle call for nickel bulls on crackdown, demand

By: Bloomberg     15th August 2016 Rising demand, deficits and a crackdown in the Philippines are combining to make nickel one of its most-preferred commodities, according to UBS Group, which said the full impact of mine shutdowns in the Southeast Asia nation may be felt only next year when exports fail to ramp up as usual. The... 

Kagara directors face potential class action suit

By: Mariaan Webb     15th August 2016 Former directors of defunct mining group Kagara may face a class action suit from shareholders, litigation funder IMF Bentham announced on Monday. The company reported that it would fund the claims of certain current and former shareholders of Kagara, relating to alleged misleading and deceptive... 

Philippines' DMCI nickel mines lay off workers, put expansion on hold

By: Reuters     15th August 2016 The Philippines' DMCI Holdings Inc said on Monday its nickel mining units are laying off hundreds of workers and putting plans to ramp up production on hold, as a government crackdown has begun to take its toll on the beleaguered sector. DMCI's Berong Nickel Corp will lay off over 300 seasonal... 

Customers to 'pay premium' for Isabel nickel, according to Axiom PFS

By: Samantha Herbst     12th August 2016 The prefeasibility study (PFS) of ASX-listed metals developer Axiom Mining’s Isabel nickel project, in the Solomon Islands has indicated that the deposit will be able to produce a consistent saprolite product “for which customers will pay a premium”, unlike other supply sources in the surrounding... 

EY’s Canadian Mining Eye index surges on buoyant gold, base metals prices

By: Henry Lazenby     12th August 2016 Professional services firm EY’s Canadian Mining Eye index surged 42% during the three months ended June 30, as major miners gained 29% on the back of rising gold and base metal prices. Gold prices increased by 7% in the second quarter, compared with 16% gains in the prior period, while the major... 

Nickel market swings into undersupply

By: Robyn Wilkinson     12th August 2016 After several years of surplus, the nickel market moved to deficit in the second quarter this year and, with the price of the commodity now above $10 000/t, a smaller portion of global nickel producers are now cash negative, research and consultancy group Wood Mackenzie nickel markets principal... 

Nickel market swings into undersupply
SEAN MULSHAW A continued drop in the world’s nickel supply will result in the price of the commodity rising above the current $10 000/t in the medium term

ASA Resources reports strong Q1 gold, diamond sales

By: Megan van Wyngaardt     11th August 2016 Multicommodity miner ASA Resources recorded a strong quarter to June 30, with gold sales up 2% quarter-on-quarter to 14 463 oz and diamond sales up 74% quarter-on-quarter to 30 888 ct. The Aim-listed company attributed the growth in gold sales to higher head grade at its Freda Rebecca operation,... 

Steadily improving South African mine output to benefit Q2 GDP figures – economist

     11th August 2016 A steady improvement in mining activity in recent months should bode well for South Africa’s second-quarter gross domestic product (GDP) figures, BNP Paribas Securities South Africa economist Jeffrey Schultz commented on Tuesday. “On a quarter-on-quarter seasonally adjusted and annualised basis,... 

AMR makes move to acquire Kasbah Resources

By: Samantha Herbst     11th August 2016 The board of ASX-listed Kasbah Resources has unanimously recommended that all shareholders vote in favour of TSX-V-listed Asian Mineral Resources’ (AMR) intention to acquire the Australian miner. The companies announced on Thursday that they had entered into a scheme implementation agreement... 

Glencore guiding higher ferrochrome, nickel output

By: Martin Creamer     11th August 2016 Diversified mining and marketing company Glencore on Thursday guided higher 2016 ferrochrome and nickel production – the only two commodities it expects to produce at levels higher than in 2015. Reporting lower half-year production of copper, zinc, lead, coal and oil than in the first six months... 

Glencore guiding higher ferrochrome, nickel output
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Philippines suspends two more mines in environmental crackdown

By: Reuters     11th August 2016 The Philippine government has suspended the operations of two more mines, one of them producing nickel, due to environmental violations, amid an ongoing audit of mining businesses across the Southeast Asian country, officials said on Thursday. The latest action raises the number of suspended... 

Enviro studies start at Platina’s Owendale project

By: Creamer Media Reporter      11th August 2016 Environmental studies have commenced at ASX-listed Platina Resources’ Owendale project, in New South Wales. The environmental studies, which are being conducted by consultancy RW Corkery & Co (RWC), form part of a feasibility study for the scandium, platinum, nickel and cobalt project. 

Heron to list gold and nickel assets separately to focus on Woodlawn

By: Megan van Wyngaardt     10th August 2016 The proposed listing of Heron Resources’ wholly-owned subsidiary, Ardea Resources, will see the company restructure its non-Woodlawn asset portfolio in New South Wales and Western Australia, with a focus on gold and nickel. Ardea’s development focus will be on the 6.62-million tonnes at 1.5 g/t... 

China's Guangdong sets up tribunal to handle zombie firms – media

By: Reuters     9th August 2016 China's Guangdong province has set up a special court to deal with disputes that arise from the closure of "zombie enterprises", the official China Daily reported on Tuesday. The Guangdong High People's Court unveiled a new tribunal on Monday to help settle legal issues that might arise from the... 

China's Guangdong sets up tribunal to handle zombie firms – media

Philippine 'shock and awe' mine crackdown rattles nickel markets

By: Reuters     8th August 2016 As the Philippines' tough-talking new President ratchets up a campaign against irresponsible mining, the suspension of a quarter of the country's nickel mines and the risk of more action to come is spooking global nickel markets. The Southeast Asian nation is China's biggest supplier of nickel... 

Philippine 'shock and awe' mine crackdown rattles nickel markets
Australian miner OceanaGold operates the Didipio gold mine in the Philippines.

LME cuts fees for short-dated trades

By: Reuters     5th August 2016 The London Metal Exchange said on Friday it will cut trading fees for short-dated trades from September 1, cap charges for transfers and reduce the initial margin payable for LME Clear. "The LME has concluded that a 44% fee reduction on member short-dated carries should be implemented, bringing... 

Project lenders defer some Ambatovy debt payments – Sherritt

By: Creamer Media Reporter      5th August 2016 Project lenders to TSX-listed Sherritt International’s 40%-owned Ambatovy joint venture (JV), in Madagascar, have agreed to grant the company and its JV partners six principal payment deferrals totalling $565-million. The Ambatovy JV, in which Sumitomo Corporation holds 32.5% and Korea Resources... 

Project lenders defer some Ambatovy debt payments – Sherritt
Sherritt International's Ambatovy plant, Madagascar

Metals X raises A$100.6m, intends to demerge gold assets

By: Samantha Herbst     4th August 2016 Diversified junior Metals X has completed an institutional placement to raise A$100.6-million – and is undertaking a share purchase plan of up to A$15-million – to fast-track the development of additional production from several of the company’s projects in both the gold and base metals... 

Metals X raises A$100.6m, intends to demerge gold assets
Metals X CEO Peter Cook

Philippines suspends operation of a seventh local nickel miner

By: Reuters     4th August 2016 The Philippine government has suspended the operations of nickel miner Claver Mineral Development Corp on Thursday, Environment and Natural Resources Secretary Regina Lopez said. Lopez made the announcement during a mining forum in southern Davao City but did not immediately say what prompted the... 

Horizonte completes acquisition of Glencore’s Araguaia nickel project

By: Henry Lazenby     4th August 2016 Nickel development company Horizonte Minerals has completed the acquisition of two remaining licences from Glencore for the planned Araguaia nickel mine and beneficiation plant in Brazil. According to the Aim- and TSX-listed company the Araguaia project, located in north-central Brazil, now... 

Rio Tinto earnings slump to 12-year low, warns conditions still tough

By: Reuters     3rd August 2016 Global miner Rio Tinto reported a 47% slump in first-half profit to its weakest in 12 years on Wednesday, still beating forecasts and a strong balance sheet allowed it to pay a higher dividend than expected. It said commodity markets remained a challenge, even as the mining sector stages a... 

Rio Tinto earnings slump to 12-year low, warns conditions still tough

Metals X to announce corporate restructuring, capital raising

By: Mariaan Webb     2nd August 2016 Diversified miner Metals X is to announce a corporate restructuring, the company revealed this week, when it requested a trading halt from the ASX. Metals X, which has gold and base metals assets, also planned to announce a capital raising, and said that details would be unveiled on Thursday. 

Philippines' Duterte says nation can survive without mining companies

By: Reuters     1st August 2016 Philippine President Rodrigo Duterte on Monday warned mining companies to strictly follow tighter environmental rules or shut down, saying the Southeast Asian nation could survive without a mining industry. "We will survive as a nation without you," Duterte told a media briefing, referring to... 

Sumitomo cuts 2016 Ambatovy nickel mine forecast to 42 000 t to 45 000 t

By: Reuters     1st August 2016 Japanese trading house Sumitomo Corp cut its nickel production estimate at the Ambatovy mine in Madagascar to 42 000 t to 45 000 t, from an earlier estimate of 48 000 to 50 000 tonnes, due to some glitches, executives said on Monday. "We've begun a maintenance at Ambatovy in June, earlier than... 

Sumitomo cuts 2016 Ambatovy nickel mine forecast to 42 000 t to 45 000 t

First Quantum sets new quarterly records for production, sales

By: David Oliveira     29th July 2016 Canadian base metals producer First Quantum Minerals (FQM) set a new quarterly record for copper production and sales of 131 349 t and 132 030 t, respectively, in the three months to June 30, surpassing previous records set in the first quarter of this year. The company’s Sentinel copper mine, in... 

First Quantum sets new quarterly records for production, sales
Kansanshi copper mine, Zambia

Most South32 operations meet, exceed guidance in maiden year

By: Mia Breytenbach     29th July 2016 Diversified major South32 says the completion of restructuring initiatives and the fact that production met or exceeded guidance for the 2016 financial year for the majority of its operations positions the company well to achieve its unit cost guidance in the new financial year. Despite a... 

Most South32 operations meet, exceed guidance in maiden year
Photo by Bloomberg
RECORD PRODUCTION Mozal Aluminium, in Mozambique, achieved a yearly production of 266 000 t in the financial year under review

Independence to raise up to A$280m to strengthen balance sheet

By: Creamer Media Reporter      27th July 2016 ASX-listed Independence Group (IGO) plans to raise up to A$280-million to strengthen its balance sheet and fund the remaining capital expenditure (capex) for its Nova base metals project, in Western Australia. The equity raising comprises a A$250-million fully underwritten placement and an up to... 

Independence to raise up to A$280m to strengthen balance sheet
The Tropicana mine is a joint venture between Independence Group and AngloGold Ashanti.

Sherritt’s second-quarter net loss per share widens by 119%

By: Samantha Herbst     26th July 2016 As nickel prices remained under pressure in the three months to June 30, with reference prices averaging $4/lb, TSX-listed diversified miner Sherritt International has reported a 119% wider net loss a share from continuing operations in the second quarter, which translates to a 44% wider net loss... 

Sherritt’s second-quarter net loss per share widens by 119%
Sherritt International's Ambatovy plant
First
Prev
1
2 3 4 5 6 7 8 9 Next Last
RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Close