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Nickel News

BNC closes $20m bond, progresses smelter restart plans

Aim-listed Mwana Africa’s 74.73%-owned subsidiary Bindura Nickel Corporation (BNC) has successfully closed a $20-million bond to buy new equipment for its smelter, in Zimbabwe. BNC was planning to reopen the smelter by December.  

Glencore transitioning into deficit in most commodities – Glasenberg

By: Martin Creamer Diversified major Glencore was transitioning into deficit in most of the commodities it produced, CEO Ivan Glasenberg said on Tuesday. Glasenberg, who has presided over returning $9.3-billion to shareholders in dividends and buybacks since 2011, told analysts and media in teleconferences in which... 

Glencore transitioning into deficit in most commodities – Glasenberg
Photo by Duane Daws
Ivan Glasenberg

Marketing hoists Glencore over low commodity price hurdle

By: Martin Creamer Diversified major Glencore has managed to scale the low commodity price hurdle with significant help from its marketing arm. The London- Hong Kong- and Johannesburg-listed company, which produces and markets 93 commodities, went against the grain with its surging agricultural business yielding... 

Marketing hoists Glencore over low commodity price hurdle
Ivan Glasenberg

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment

By: Henry Lazenby When the Quebec government’s Plan Nord to develop the parts of the province located north of the 49th parallel was launched under Jean Charest’s Quebec Liberal Party in May 2011, it was heralded as a timely and necessary act in the mining industry’s favourable economic context at the time. But a... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment
Photo by Reuters
Former Quebec Premier Jean Charest unveiled the Plan Nord on May 9, 2011.

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Sirius agrees supply deal with BHP’s Nickel West

By: Mariaan Webb ASX-listed Sirius Resources has signed a three-year deal with BHP Billiton to sell about half of its planned nickel sulphide concentrate production from the Nova mine, in Western Australia, to the major’s Nickel West operation. The mine, which is currently under development, will produce about 26... 

 Sirius agrees supply deal with BHP’s Nickel West
BHP Billiton's Nickel West business unit (pictured here) will buy nickel concentrate from Sirius' new Nova mine, in Western Australia.

Canadian fed and Ontario govts unveil supports for mining industry

By: Henry Lazenby Several federal departments of the Canadian government, as well as the Ontario provincial government, unveiled new measures and investments on Sunday to increase support and drive growth in the country's besieged mining industry. In a speech to the Prospectors & Developers Association of Canada,... 

Canadian fed and Ontario govts unveil supports for mining industry
Photo by Reuters
Canadian Finance Minister Joe Oliver

South32 catalyst for next wave of productivity gains – BHP Billiton

By: Martin Creamer Mining giant BHP Billiton, which pulled a free cash flow rabbit out of the thrashed commodity price hat in the six months to December 31, intends the spinoff of South32 to be the catalyst for the new wave of productivity gains in the period ahead “because if you keep doing the same thing, you... 

South32 catalyst for next wave of productivity gains – BHP Billiton
Photo by Duane Daws
Peter Beaven

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

First Quantum FY earnings decline, control on costs tightened

By: Natasha Odendaal Despite delivering record output of 427 655 t of copper and reining in costs in the year to December, TSX- and LSE-listed First Quantum Minerals on Friday posted a decline in comparative earnings for the past year. The Canadian base metals miner posted comparative earnings of $474.5-million or... 

Nova speeding through development - Sirius

By: Esmarie Swanepoel The development of the Nova nickel mine, in Western Australia, is trending ahead of schedule, ASX-listed Sirius Resources reported on Friday. Sirius officially started mining at Nova in January this year, after receiving the final statutory approvals. 

Western Areas posts big jump in half-year profit

By: Esmarie Swanepoel The higher nickel price achieved in the first half of Western Areas’ 2015 financial year has helped the miner report a massive 782% increase in interim profit to A$23.6-million. Western Areas said on Thursday that continued positive operating cost outcomes driven by productivity and efficiency... 

Rox mulls options at Fisher East

By: Esmarie Swanepoel A scoping study into the Fisher East nickel project, in Western Australia, had delivered two development options that would be further investigated, minerals explorer Rox Resources said on Tuesday. The first option considered was the construction of a 500 000 t/y processing plant at the Fisher... 

Progress made on Bindura smelter restart – Mwana

By: Natasha Odendaal Much progress has been made during the third quarter of the 2015 financial year to restart Bindura Nickel Corporation’s nickel smelter and refinery, in Zimbabwe, Pan-African resources group Mwana Africa said on Monday. Mwana revealed last year that the smelter at its 74.73%-owned subsidiary would... 

Creamer Media publishes Australasian Mining Roundup for February 2015 research report

The February 2015 roundup includes details of an updated scoping study on junior gold developer A1 Consolidated Gold’s namesake project, in Victoria; diversified miner Glencore’s plans to sell its Cosmos nickel mine, in Western Australia; and metals miner Aurelia Metals’ launch of a... 

Creamer Media publishes Australasian Mining Roundup for February 2015 research report

Sherritt posts bigger-than-expected loss as nickel prices fall

By: Reuters Canadian miner Sherritt International reported a much wider-than-expected quarterly loss as nickel prices fell due to a supply glut and weak demand from China. Nickel prices fell 15% in the fourth quarter, from the third, and are down nearly 30% since May. 

Mining output dips in December

By: Natasha Odendaal South Africa’s mining output declined 2% year-on-year in December, as poor performance from the diamonds, iron-ore and platinum-group metals (PGMs) sectors weighed on overall production. The latest data from Statistics South Africa (Stats SA) showed negative growth rates of -27.9% and -15.6% for... 

Mincor widens losses in H1

By: Esmarie Swanepoel The declining nickel price has resulted in miner Mincor Resources widening its net loss after tax to A$1.89-million during the first half of 2015, compared with the A$300 000 loss reported in the previous corresponding period. Mincor noted that the loss included a tax charge of A$430 000 arising... 

Anglo may record noncash impairment charges in price plunge parry

By: Martin Creamer Given the sharply lower commodity price environment, particularly for bulk commodities, Anglo American said on Wednesday that it expected to record noncash impairment charges in its 2014 results. The London- and Johannesburg-listed diversified major, headed by CEO Mark Cutifani, added in a media... 

Anglo may record noncash impairment charges in price plunge parry
Mark Cutifani

On back of strong 2014, First Quantum disappoints with 2015 outlook

By: Henry Lazenby Base metals miner First Quantum Minerals late on Monday reported record copper output during 2014, noting that the current year would see its Zambia operations benefit from increased synergies as its new smelter was being commissioned and its new Sentinel mine started first production during the... 

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Sirius saves A$30m at Nova, mining gets under way

By: Esmarie Swanepoel Nickel miner Sirius Resources has reduced the capital cost at its Nova project, in Western Australia, by A$30-million, to A$443-million, as a result of cost saving on construction contracts and tenders. The miner told shareholders on Tuesday that the savings identified to date did not compromise... 

Exploration at Kibo's Haneti project to continue

By: Megan van Wyngaardt Dual-listed Kibo Mining would conduct further exploration at its Haneti nickel project, in central Tanzania, following a positive independent geochemical interpretation report. "With this new report [in] hand, the case for further exploration and development at Haneti is compelling. We are... 

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

In light of these developments, Creamer Media’s Base Metals 2014 Report examines the global base metals market, with a particular focus on supply and demand, and on the production of copper, zinc, nickel and lead, as well as selected base metals operations and projects in Africa. 

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

Antofagasta closes C$53m Duluth Metals acquisition

By: Henry Lazenby Chile-based copper-mining group Antofagasta this week completed the C$53-million takeover of Duluth Metals, giving it exclusive control of the Twin Metals Minnesota (TMM) copper/nickel/platinum group metals project, in the Duluth Complex, in north-eastern Minnesota. Antofagasta had obtained all... 

Global base metals outlook turns negative – Moody’s

By: Henry Lazenby Global credit ratings advisory firm Moody’s Investors Service has changed its outlook on the global base metals industry to negative, citing weakening macroeconomic growth indicators and investor sentiment. In its report ‘Global Base Metals Industry: Economic Weakness and Copper Price Plunge Turn... 

Global base metals outlook turns negative – Moody’s

Lundin Mining expects 2015 to be another ‘strong execution’ year

By: Tracy Hancock Diversified base metals mining company Lundin Mining expects another year of strong execution in 2015, following favourable 2014 production results, as the company focuses on cash generation and profit optimisation at each of its operations. President and CEO Paul Conibear said the company was... 

Lundin Mining expects 2015 to be another ‘strong execution’ year

Mincor ramps up exploration budget by 40%

By: Esmarie Swanepoel Going against the grain, ASX-listed nickel miner Mincor Resources this week announced that it would increase its 2015 exploration budget by about 40%. Despite the weaker commodity price environment, Mincor said it would push its exploration spend to A$14-million in 2015, owing to the high level... 

Western Areas’ unit costs fall to lowest level in 3 years

By: Esmarie Swanepoel Cost management has resulted in nickel miner Western Areas reporting its lowest quarterly unit costs of production since December 2011. The Western Australia-focused miner on Wednesday reported that unit costs for the quarter reached A$2.23/lb, resulting in a 20% decrease in the half-year unit... 

Mintek bioleach propriety installed in Finland

By: Creamer Media Reporter Amsterdam-headquartered talc producer Mondo Minerals and South Africa’s State-owned Council for Mineral Technology (Mintek) are currently constructing a Mintek-developed nickel sulphide bioleach plant at Mondo’s Vuonos talc processing site, in Finland. This followed the conclusion of a licence... 

Back to basics key message in Deloitte trend forecast

By: Megan van Wyngaardt While the outlook of the global mining sector for the year ahead looks bleak, with mining companies having to contend with price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of access to financing, advisory firm Deloitte believes all is not lost. In its... 

Back to basics key message in Deloitte trend forecast
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