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Nickel News

Poseidon declares reserve at Maggie Hays

By: Esmarie Swanepoel     Updated 5 hours ago Nickel miner Poseidon Nickel has reported a maiden reserve estimate for the Maggie Hays deposit, within the Lake Johnston project, in Western Australia, of 1.9-million tonnes, grading 1.19% nickel for 22 600 t of contained nickel. The miner reported on Monday that the ore reserve represented an... 

Rejected mine water plan deprived 7 000 of jobs – Robinson 

By: Martin Creamer The rejection of a still-workable mine water and slimes dam plan at the stricken Grootvlei gold mine on Gauteng’s East Rand deprived 7 000 squatter camp dwellers of employment and set the mine on its downward trajectory, which has arguably ended up as the harshest aspect of the Aurora liquidation... 

Rejected mine water plan deprived 7 000 of jobs – Robinson
Photo by Daune Daws
Dr RE (Robbie) Robinson (right) and Martin Creamer

Asian Mineral Resources appoints new board member

By: Megan van Wyngaardt Nickel miner Asian Mineral Resources (AMR) has appointed Evgenij Iorich to its board of directors, replacing Stephen Gill, who recently retired. The company owned and operated the 6 400 t Ban Phuc nickel mine in Vietnam. 

South32 secures ICMM membership

By: Natasha Odendaal BHP Billiton spin-off South32 has successfully joined the International Council on Mining and Metals (ICMM), a move that is expected to deliver long-term benefits for the new globally diversified metals and mining company and its stakeholders. An independent expert review panel had recommended... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

First Nickel under TSX delisting review

By: Sashnee Moodley Mining and exploration company First Nickel reported it has received notice that the TSX is reviewing the eligibility of the company’s common shares for continued listing on the TSX. 

First Nickel under TSX delisting review

Sirius completes first debt drawdown to fund Nova

By: Megan van Wyngaardt Nickel miner Sirius Resources has completed the first $57-million drawdown of funding under its A$440-million syndicated facility agreement to fund the ongoing development of its 100%-owned Nova mine, in Western Australia. This would fund ongoing mine development and construction activities at... 

Mincor announces resource upgrades at WA nickel projects

By: Ilan Solomons Australian nickel miner Mincor Resources reported on Wednesday further strong progress at all four of its new growth projects in the Kambalda nickel district, in Western Australia. The company said that successful drilling boosted its nickel resource inventory across three key deposits and... 

Morgan Stanley slashes nickel forecasts on deteriorating macro outlook

By: Reuters Morgan Stanley slashed its nickel price forecasts for the second half of the year on Tuesday as demand from stainless steel producers is undermined by a deteriorating outlook for global growth. The bank cut its third quarter 2015 nickel price forecast by 12% to $13 228/t; and its fourth quarter... 

Royal Nickel chooses Swedbank to advise on $600m bond financing

By: Henry Lazenby Base metals project developer Royal Nickel Corporation (RNC) has appointed Swedbank Norway (Swedbank) as adviser for a senior bond financing of about $600-million, with a five-year maturity, to develop its Dumont nickel project, in Quebec. Swedbank would work closely with RNC to arrange the... 

Royal Nickel chooses Swedbank to advise on $600m bond financing

Scrap base metals supplies accounting for up to half of total consumption

By: Henry Lazenby Supplies of scrap base metals are becoming increasingly important, accounting for up to half of all refined metals consumed in the global market. However, in a note to clients, Bank of America Merrill Lynch noted that scrap was one of the least transparent segments of the base metal markets,... 

Scrap base metals supplies accounting for up to half of total consumption

Western Areas to buy Glencore’s Cosmos nickel complex

By: Ilan Solomons Nickel miner Western Areas on Friday announced that it would buy the Cosmos nickel complex, in Western Australia, from Glencore subsidiary Xstrata Nickel Australasia Operations. The acquisition would provide Western Areas with substantial additional exploration upside and a potential second... 

Western Areas to buy Glencore’s Cosmos nickel complex

Tasmania provides financial support to reopen Avebury nickel mine  

By: Esmarie Swanepoel The Tasmanian government at the end of last week announced a support package to bring the Avebury nickel mine back into production. Resources Minister Paul Harriss said the reopening of the Avebury mine, which had been on care and maintenance since 2009, would represent a significant boost to... 

Madagascar Ambatovy mine workers won't strike, want talks on layoffs

By: Reuters The two main trade unions at Sherritt International's Ambatovy nickel mine, in Madagascar, will not call a new strike over job layoffs for now and are still seeking dialogue, union officials said on Friday. The row at one of the biggest foreign investment projects in Madagascar comes amid a... 

North American Nickel gains strong foothold in Greenland nickel camp

By: Henry Lazenby Greenland-focused explorer North American Nickel (NAN) is in negotiations with a subsidiary of Swedish Iron producer LKAB Minerals to acquire the strategically important Seqi port, on the south-west coast of Greenland, that would give it a strategic geographic advantage in the emerging mining... 

North American Nickel gains strong foothold in Greenland nickel camp
Photo by North American Nickel
Maniitsoq, Greenland.

Mining subtracting from Botswana’s economic growth – economist

By: Martin Creamer The days of mineral-led economic growth in Botswana were over with mining actually subtracting from Botswana’s economic growth in recent years, Econsult economist Dr Keith Jefferis said here on Wednesday. Speaking at the thirteenth Botswana Resource Sector Conference, Jefferis said that... 

Mining subtracting from Botswana’s economic growth – economist
Photo by Martin Creamer
Econsult economist Keith Jefferis

Creamer Media publishes Australasian Mining Roundup for June 2015 research report

The June 2015 roundup, covering events in May, includes details of iron-ore miner Atlas Iron’s reported increase in the total mineral resource at its Corunna Downs project, between its Mt Webber and McPhee Creek projects, in the Pilbara; nickel miner Mincor’s revised mining plan at its operations... 

Creamer Media publishes Australasian Mining Roundup for June 2015 research report

Poseidon opts for Black Swan processing plan, BHP offtake to lapse

By: Esmarie Swanepoel Nickel miner Poseidon Nickel has opted to process ore from its proposed Windarra mine, in Western Australia, at its newly acquired Black Swan processing plant, instead of at BHP Billiton’s Nickel West MD David Singleton said on Tuesday that the company was looking to develop an overall strategy... 

Low nickel prices force First Nickel to shutter Lockerby in Q3

By: Henry Lazenby The Lockerby mine in the Sudbury basin of Ontario would be placed on care and maintenance or closed during the third quarter, after all remaining nickel ore above the 6 800-foot-level had been exhausted, owner and operator First Nickel (FNI) said on Monday. The miner said that weak nickel prices... 

Workers at Madagascar Ambatovy nickel mine consider strike over jobs

By: Reuters Workers at Sherritt International Corp's Ambatovy nickel project in Madagascar are considering strike action over possible job cuts, a trade union official said on Monday. The crisis at one of Madagascar's biggest foreign investment projects comes as the poor but mineral-rich Indian Ocean state... 

South Africa’s geoscience ‘desperately’ underfunded – Nedbank Capital 

By: Martin Creamer Government geoscientists are desperately underfunded, which is depriving South Africa of the geological potential that is essential for minerals exploration. There is an absence of investment in large, regional geological exercises and masters students are not being trained in the... 

South Africa’s geoscience ‘desperately’ underfunded – Nedbank Capital
Photo by Duane Daws
Paul Miller

Madagascar nickel project suffers another setback

By: Henry Lazenby Diversified Canadian resource company Sherritt International has suffered another setback at the Ambatovy nickel/cobalt project, in Madagascar. Strikes at both the mine and plant, and a transformer failure had choked the operation’s ability to ramp up to the coveted 90% of design capacity for 90... 

Commodity prices weigh heavily on top 40 mining giants

By: Natasha Odendaal The tough fight faced by the global mining industry in 2014 would escalate into a brawl this year as mining companies worldwide struggled to emerge from depressed markets, PwC’s Africa Mining Centre of Excellence head Michal Kotze said on Thursday. Widespread government intervention, significant... 

Commodity prices weigh heavily on top 40 mining giants

Base metals on ‘negative’ watch as low prices, slowing growth stales outlook – Moody’s

By: Henry Lazenby Advisory firm Moody’s Investors Service does not expect base metal prices to materially improve over the next 12 to 18 months, saying the basket of metals including copper, zinc and nickel faced downside risks amid an uncertain global economic recovery. In its latest ‘Outlook Update: Global Base... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit

By: Martin Creamer A horde of banks has seemingly rushed in eagerly to grant an eventual $15.25-billion worth of revolving credit facilities to diversified mining and marketing major Glencore, as part of a refinancing exercise. Initially launched at $14-billion, the credit facilities of the London-, Hong Kong- and... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit
Photo by Bloomberg
Iavn Glasenberg

Wolfden Resources terminates Murray Brook acquisition, opts for Manitoba claim

By: Henry Lazenby Base metals explorer Wolfden Minerals has cancelled its exclusivity agreement to buy a 65% interest in the Murray Brook project, the fifth-largest massive sulphide deposit in the Bathurst Mining Camp (BMC) of New Brunswick, from Votorantim Metals Canada, settling instead for a Manitoba... 

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed midtier... 

Definition study enhances Unicorn business case, slashes capex – Dart

By: Mariaan Webb A project definition study of the Unicorn molybdenum, copper, silver and zinc project, in Victoria, has significantly improved the project definition and business case, ASX-listed Dart Mining reported on Wednesday. The company started a 15-month study of the project in March last year, following... 

Mwana execs to lead Chamber of Mines of Zimbabwe

By: Creamer Media Reporter London-listed multicommodity miner Mwana Africa on Tuesday welcomed the appointment of two of its executives to the Chamber of Mines of Zimbabwe. Freda Rebecca gold mine MD Toindepi Muganyi was appointed president of the chamber, while Trojan nickel mine MD Batirai Manhando was appointed first... 

Axiom secures A$4m to fund Isabel

By: Esmarie Swanepoel Metals developer Axiom Mining has raised A$4-million through a share placement and a convertible note issue to fund the development of its Isabel nickel project, in the Solomon Islands. The junior reported on Friday that shares had been placed to a number of institutional and high net worth... 

Poseidon finds buyer for Silver Swan

By: Esmarie Swanepoel ASX-listed nickel miner Poseidon Nickel has sold the rights to mine the Silver Swan underground operation, on the Black Swan tenements in Western Australia, in a deal valued at A$1.5-million, in cash and shares. The Black Swan operations were acquired from major Norilsk Nickel earlier this year,... 

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