R/€ = 15.33 Change: -0.25
R/$ = 13.68 Change: -0.22
Au 1323.60 $/oz Change: -3.62
Pt 1024.50 $/oz Change: 0.00

Nickel News

Project house DRA appoints new CEO

By: Martin Creamer     Updated 7 hours ago Project house DRA on Wednesday announced the appointment of Wray Carvelas as its new CEO. Carvelas, who has been CEO of DRA Americas for the past five years, has served the company in various key capacities since 2001. 

MMG offloads mothballed Avebury nickel mine

By: Esmarie Swanepoel     28th September 2016 Metals miner MMG has executed a share sales agreement to divest of its idled Avebury nickel mine, in Tasmania, in a deal valued at A$25-million. The agreement, with privately held Dundas Mining, would see MMG receive a deposit of A$1.5-million on the signing of the agreement, with a further... 

Mining Commissioner issues final order on Cliffs' bid over KWG rail claims

By: Henry Lazenby     28th September 2016 The Mining and Lands Commission of Ontario has made a final order, paving the way for an application to the Ontario Ministry of Natural Resources, which was made by Cliffs Natural Resources in early 2012, for the grant of an easement over the claims of KWG subsidiary Canada Chrome Corporation... 

Kinross sells 4.7% stake in Lundin

By: Henry Lazenby     27th September 2016 Gold producer Kinross Gold has agreed to sell a 4.7% stake in Lundin Mining to GMP Securities, amounting to 5.5-million common shares at C$5.60 apiece. Kinross on Monday said the deal was part of its portfolio management strategy and would generate C$30.8-million in gross proceeds. 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’ 

By: Martin Creamer     26th September 2016 Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’
Randgold CEO Dr Mark Bristow (centre) with host country management at the Loulo gold mine

Glencore sees nickel price rising on global supply shortage

By: Bloomberg     21st September 2016 Glencore, the commodities trader and miner, expects nickel prices to climb through 2018 as demand outstrips supply, assuming Indonesia continues its policy of curbing ore exports and encouraging local processing. “We believe we’ve seen the bottom, both in terms of the actual spot prices... 

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

South African gold and diamond miners shine, base metals face slow recovery

By: African News Agency      20th September 2016 Moody’s Investors Service on Tuesday said South African gold and diamond miners’ credit quality had good prospects to continue strengthening. Moody’s assistant VP Douglas Rowlings said the gold and diamond miners that the agency rated in South Africa had already re-set their operations to... 

Ravensthorpe could be expanded - EPA

By: Esmarie Swanepoel     16th September 2016 Members of the public would have until September 20 to comment on Canadian firm First Quantum’s plans to expand its Ravensthorpe operations, in Western Australia. The Western Australian Environmental Protection Authority this week released documents in which First Quantum applied to expand its... 

Policy environment failing South African mining – professor

By: Martin Creamer     15th September 2016 South Africa’s policy environment is failing its mining industry, which is suffering an inability to attract investment. In terms of the weighted average cost of capital (WACC), South Africa is trailing many other mining jurisdictions owing to its unstable political economy. 

Policy environment failing South African mining – professor
Photo by Duane Daws
Southern African Institute of Mining and Metallurgy mineral economics division chairperson Professor Michael Solomon

Philippines delays release of mining audit outcome

By: Reuters     15th September 2016 The Philippine government will release the results of a review of the operations of the country's 40 metallic mines on September 22 instead of this week, the Mining Minister said on Thursday. The world's top nickel ore supplier has so far suspended operations of 10 mines, eight of them nickel,... 

First global rankings of renewables use by mining companies to be released

By: Creamer Media Reporter      14th September 2016 Renewable energy information provider to the mining industry Energy and Mines has released the initial results of the first global rankings of renewables used by mining companies, identifying that the top 21 mining companies use wind and solar energy to power their operations. The ‘Energy and... 

Mining needs disruptive digital change, Electra Mining conference hears

By: Martin Creamer     12th September 2016 The mining industry, which has a past of intervening with key technologies at critical times, is currently at an important leverage point that requires disruptive change. Envisaged is that disruptive change will be supported by the interaction of people, process and technology and definitely not... 

Mining needs disruptive digital change, Electra Mining conference hears
Photo by Duane Daws
Telstra Mining Services head Jeanette McGill

Globally competitive mining legislation critically important – Motsepe 

By: Martin Creamer     8th September 2016 Globally competitive mining legislation is critically important for South Africa, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe said on Thursday when he gave his full backing to the “once empowered, always empowered” principle currently the subject of negotiation between... 

Globally competitive mining legislation critically important – Motsepe
African Rainbow Minerals executive chairperson Patrice Motsepe talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer 8.9.2016

ARM pays lower dividend as earnings plummet

By: Martin Creamer     8th September 2016 The headline earnings of diversified mining company African Rainbow Minerals (ARM) decreased 40% to R1 051-million in the 12 months to June 30. Earnings a share were 494c, compared to 803c last financial year. 

ARM pays lower dividend as earnings plummet
Photo by Duane Daws
African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe

Eastern Goldfields diversifies into nickel with Windward stake

By: Esmarie Swanepoel     8th September 2016 ASX-listed Eastern Goldfields has taken a 14.3% stake in fellow-listed Windward Resources in a deal valued at A$2.1-million. Subject to Windward shareholder approval, Eastern Goldfields will take up 18-million shares in Windward, priced at 12c each. Eastern Goldfields will also be issued with a... 

New native nickel discovery defies understanding

By: Esmarie Swanepoel     7th September 2016 Privately held Comet Minerals has unveiled a new style of native nickel mineralisation at its Titan deposit, in Nigeria. The discovery is believed to be the first of its kind, with the native nickel appearing in sizes of up to 5 mm, at 90% nickel. 

New native nickel discovery defies understanding

P1bn debt burden weighs down top Botswana nickel miner

By: African News Agency      6th September 2016 Botswana’s top nickel miner Bamangwato Concession Limited (BCL) is sinking with a debt burden of at least P1-billion ($100-million) amid escalating costs of deep underground mining as nickel prices remain depressed on global commodity markets. Addressing President Lieutenant-General Seretse Khama... 

Philippine nickel ore exports may drop 30%, top miner says

By: Bloomberg     5th September 2016 Shipments of nickel ore from the Philippines may shrink by as much as 30% this year as the world’s top supplier cracks down on errant miners and after some companies cut output in the first half due to weak prices and poor weather, according to the head of one of the biggest producers. Volumes... 

Caeneus buys major stake in Pardoo

By: Esmarie Swanepoel     5th September 2016 Minerals explorer Caeneus Minerals has acquired a majority interest in the Pardoo nickel project, in Western Australia. Caeneus on Monday announced that its subsidiary Port Exploration had signed a joint venture (JV) agreement with fellow-listed Segue Resources under which it would spend A$250... 

D-day looms for nickel market as top shipper checks on mines

By: Bloomberg     2nd September 2016 The global nickel market will discover the severity of the Philippines’ mining audit next Thursday as President Rodrigo Duterte’s government presents the findings of the checkup and announces support for communities affected by any further suspensions. Benchmark prices surged. The audit in the... 

Independence Group not deterred by lower pricing outlook

By: Megan van Wyngaardt     31st August 2016 Although ASX-listed Independence Group (IGO) anticipates continuing commodity price volatility in the coming year and potential margin pressure on some of its producing assets, the company will increase its focus on bringing its Nova nickel project on line, while unlocking value at its Tropicana... 

Independence Group not deterred by lower pricing outlook
The Tropicana joint venture in Western Australia is a key asset for Independence Group.

Panoramic suffers severe loss amid plummeting nickel price

By: Samantha Herbst     30th August 2016 Nickel-focused Panoramic Resources’ 2016 financial year results have been severely impacted by the falling nickel price, which reached a decade low in February, pushing the company into an after-tax loss of A$144.4-million, against a loss of A$28.8-million reported in the previous year. Further,... 

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... 

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
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