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Nickel News

Zimbabwe is of ‘strategic importance’ to Angloplat, says CEO 

By: Matthew Hill     28th July 2008 Platinum-miner Anglo Platinum (Angloplat) on Monday reaffirmed its controversial commitment to developing the Unki project in Zimbabwe, with new CEO Neville Nicolau saying the country was strategically important for the company’s growth plans. He commented that Angloplat did not “hang its future... 

Angloplat targets volume growth to improve H2 revenues

By: Matthew Hill     28th July 2008 Anglo Platinum, the world’s biggest producer of the precious metal, would be able to achieve second-half revenues similar to that of the first half, if the platinum price were to average at $1 500/oz, CFO Norman Mbazima said on Monday. This was as the miner aimed to significantly increase its... 

Angloplat headline earnings surge to record R8,4bn, output tumbles

By: Matthew Hill     28th July 2008 Despite Anglo Platinum’s (Angloplat’s) period-on-period production tumbling by nearly one-fifth for the six months ended June 30, the world’s biggest miner of the white metal said on Monday that headline earnings had risen 22% to a record R8,44-billion. The record performance was thanks to... 

South Africans have been ‘spoiled’ by easy access to abundant electrical power, says new platinum smelter Braemore

By: Martin Creamer     25th July 2008 On slide 33 of the Johannesburg Stock Exchange listing document, Braemore Resources acting CEO David Russell has a headline that reads, “South Africa: previously spoiled for access to electrical power”.  

Norilsk completes syndication of $1,5bn loan

21st July 2008 The world's biggest miner of nickel and palladium, Norilsk Nickel, said on Monday that it had successfully closed a $1,5-billion medium-term syndicated loan. The facility was used to refinance the $2,5-billion short-term facility arranged last year to fund the company's acquisition of Canada's... 

Mwana’s Zim mines continue to operate despite ‘difficulties’

By: Chanel de Bruyn     17th July 2008 Despite economic difficulties affecting Aim-listed resources company Mwana Africa’s existing operations in Zimbabwe, the company had continued production and had completed two large projects at its Bindura Nickel Corporation (BNC) operation, the company reported on Thursday. “Our existing... 

Newly listed Braemore also eyeing Southern African nickel opportunities 

By: Martin Creamer     16th July 2008 Twin platinum-nickel company Braemore Resources plc would “without question” also seek to apply its proprietary nickel-leaching technologies in Southern Africa in addition to Australia where they were about to be turned to positive account, Braemore acting CEO David Russell said on listing on the... 

Braemore lists on JSE, says plans $50m share issue

By: Matthew Hill     16th July 2008 Smelting company Braemore Resources planned on raising some $50-million by issuing shares on the JSE, on which it debuted on Wednesday, within the next six months, an official told Mining Weekly Online at the listing function. Executive director Clayton Dodd said that “all things being equal”,... 

Impala, Australian explorer agree ‘$800 000-in-two-years' platinum-nickel deal

By: Martin Creamer     15th July 2008 South Africa's second-largest platinum miner Impala had agreed to spend $800 000 in two years on platinum-nickel project generation in Southern Africa as part of an alliance with Australian explorer Impact Minerals Limited, the Australian Stock Exchange-listed Impact said on Tuesday. 

Upgraded processing plant set for handover

11th July 2008 Following a successful commissioning exercise at the end of March this year, mining-focused engineering project house TWP Consulting is due to hand over a fully refurbished and upgraded concentrator plant to Mwana Africa subsidiary Bindura Nickel Corporation (BNC) in Zimbabwe. 

Mirabela inks 5yr offtake pact for Brazil nickel mine

By: Liezel Hill     9th July 2008 Perth-based Mirabela Nickel has signed a five-year offtake agreement with Votorantim Metais Niquel for 50% of the nickel concentrate produced at the company's Santa Rita mine, in Brazil, and is in advanced talks to sell the rest of the mine's production, the company reported on Wednesday. The... 

High nickel prices promotes use of ferritic stainless steel grades

By: Chanel de Bruyn     9th July 2008 There has been a global shift from austenitic to ferritic stainless steel grades with high nickel prices acting as a trigger for this shift, German firm Heinz H Pariser Alloy Metals & Steel owner Heinz Pariser said on Wednesday. Ferritic stainless steel grades contain less nickel than austenitic... 

Braemore to make JSE debut on July 16

By: Mariaan Webb     9th July 2008 London-listed Braemore Resources, which has the exclusive licence to the patented Mintek ConRoast technology for smelting platinum group-metal (PGM) concentrates, would list on the main board of the Johannesburg bourse on July 16, it said on Wednesday. Acting CEO David Russell said that it was... 

Impact buys remaining 15% stake in Botswana uranium project

By: Creamer Media Reporter      9th July 2008 Australian explorer Impact Minerals has acquired the remaining 15% shareholding in its uranium prospecting licences in Botswana and now owned 100% of the project, it said on Wednesday. The company bought the shares from its COO in Africa, John Blaine, for two-million shares in the company.  

FNX inks mutual-benefits pact with local First Nation

By: Liezel Hill     4th July 2008 Toronto-based FNX Mining has concluded an agreement with the Wahnapitae First Nation, the community located nearby the company's Podolsky property, in the Sudbury basin. 

Nickel-miner Minara maintains output forecast, despite gas-supply woes

By: Liezel Hill     4th July 2008 Australia's second-biggest nickel producer, Minara Resources has returned its Murrin Murrin plant in Western Australia to full production, after output was affected by an explosion that severed natural-gas supplies to the region from an offshore plant. The company has arranged an alternative... 

Havenstein joins Norilsk Nickel as CEO of international unit

By: Creamer Media Reporter      24th June 2008 Ralph Havenstein, former CEO of platinum giant Anglo Platinum, will now head up the international operations of the world’s largest nickel and palladium producer, Norilsk Nickel. Havenstein, who quit his job at Angloplat in August, would have overall responsibility for the Norilsk Nickel’s... 

HudBay to buy Skye Resources for Guatemala nickel project

By: Liezel Hill     23rd June 2008 Canadian miner HudBay Minerals has agreed to buy TSX-listed Skye Resources to gain control of the smaller company's Fenix nickel project, in Guatemala, the two firms announced on Monday. Skye shareholders will receive 0,61 HudBay shares for every Skye share they own, and HudBay will also buy... 

Skye CFO to retire, names replacement

By: Liezel Hill     20th June 2008 TSX-listed Skye Resources has appointed finance VP and treasurer David Bryson as CFO, to replace Keith Service, who is retiring. Service will remain available to Skye “to assist on special assignments”, the firm said. 

Zim loses 500 skilled personnel, may not enrol new mining, engineering students

By: Oscar Nkala     20th June 2008 Zimbabwe’s mining sector has lost over 500 technically skilled and experienced personnel over the last year alone, a recent survey conducted by the Chamber of Mines reveals. 

Mwana to raise £25m to boost Zim unit, fund exploration

By: Chanel de Bruyn     18th June 2008 Aim-listed pan-African diversified resources company Mwana Africa would place new ordinary shares to raise up to £25-million in order to fund exploration and capital expenditure (capex) at some prospects, as well as provide financial support to Zimbabwe's Bindura Nickel Corporation... 

Miners cautioned to watch expenses as costs eroded 2007’s revenues 

By: Chanel de Bruyn     17th June 2008 While commodity prices were expected to remain strong in 2008, professional services firm PricewaterhouseCoopers (PwC) said on Tuesday that it was expecting prices to taper off slightly, and that some companies would come under pressure if they did not watch input and operational costs.... 

Zinc surplus widens – study group

By: Liezel Hill     16th June 2008 The global zinc market was in surplus by 78 000 t during the first four months of this year, compared with an oversupply of 43 000 t during the same period of 2007, according to estimates from the International Lead and Zinc Study Group (ILZSG). Mine output, which increased 9,2% year on year, to... 

Zinifex investors OK Oxiana merger, to create new zinc No 2

By: Liezel Hill     16th June 2008 The shareholders of Australian base-metals miner Zinifex on Monday voted to approve the takeover of the company by Oxiana, to create the newly-christened OZ Minerals, which will be the third-largest diversified miner in Australia, and the world's second biggest producer of zinc in... 

New gold-stream company on the prowl for deals

By: Liezel Hill     13th June 2008 “Friends, Romans, countrymen, bring us your byproduct gold!” were the ebullient last words in a presentation on Friday from a clearly enthusiastic David Cohen, the CEO and executive chairperson of the world's first gold-stream firm, Gold Wheaton. Modelled on the successful... 

First Quantum gets shareholder approval to buy Finnish nickel firm

By: Matthew Hill     13th June 2008 TSX-quoted miner First Quantum Minerals on Friday said that Finnish acquisition target Scandinavian Minerals' shareholders had voted in favour of its C$281-million cash and share offer, first unveiled in April. First Quantum said that the deal was expected to become effective on June 18,... 

Bacteria doing sensational 98% recovery job for Finland nickel entrant 

By: Martin Creamer     13th June 2008 Bugs are helping to a new Nordic nickel entrant to hit the recovery high spots and hold its share price high despite the world’s credit crunch. 

All systems go for Nunavik nickel project

By: Liezel Hill     12th June 2008 TSX-listed Canadian Royalties has received a mine lease from Quebec's Natural Resources Ministry, for the Expo deposit on its Nunavik nickel project in the province, and expects to receive individual leases on the remaining Mesamax, Ivakkak and Mequillon deposits “shortly”, the... 

BHP accelerates plans to refurbish Australian nickel smelter

By: Creamer Media Reporter      12th June 2008 Diversified mining giant BHP Billiton will immediately begin the rebuild of its Kalgoorlie nickel smelter furnace in Western Australia, which has experienced significant deterioration. Owing to the furnace rebuild, the Kwinana nickel refinery would be shutdown for the duration of the rebuild,... 

Teck Cominco seals wage agreement with Trail smelter unions

By: Liezel Hill     11th June 2008 Vancouver-based Teck Cominco has reached a four-year contract agreement with the unions at its Trail lead and zinc smelter and refinery operations, in British Columbia, the company said.  

Angloplat man to head up Braemore Resources

By: Creamer Media Reporter      10th June 2008 Anglo Platinum head of process control and instrumentation, Leon Coetzer, would take over as MD and CEO of Aim-listed nickel and platinum-group metal (PGM) producer Braemore Resources on July 1, Braemore announced on Tuesday. The company said in a statement that Coetzer would initially divide... 

Miners should position themselves for even bigger China resources assault 

By: Matthew Hill     10th June 2008 Mining companies needed to look strategically and systematically at how they could benefit from opportunities that resource-hungry China's increasing growth as global resources player presented, an expert on that country said on Tuesday. Speaking at the ‘Africa Mining Congress'... 

Australian junior to explore for nickel at Barrick mine

By: Liezel Hill     6th June 2008 ASX-listed Apex Minerals has entered into a second joint venture (JV) with gold giant Barrick Gold, in which Apex and its partner Carey Mining can earn a 70% interest in the nickel rights on certain tenements owned by Barrick's Lawlers mine, in western Australia.  

Weaker demand conditions prevailing as world economy slows – NCM

By: Irma Venter     6th June 2008 There is a selective bull market at play in the industrial commodities market, reports London-based Natixis Commodity Markets (NCM) in its second quarter metals review. 

Norilsk shelves Botswana Tati Activox plan on cost worries

By: Liezel Hill     4th June 2008 The world's biggest nickel producer, Norilsk Nickel, has indefinitely postponed plans for a project to refine nickel using Norilsk's patented Activox technology at the Tati Nickel operation in Botswana, after deciding that the cost of the project would outweigh the benefits. Internal... 

Nickel Institute calls for more research to improve vehicle fuel efficiency, slash emissions

By: Leandi Kolver     30th May 2008 Nickel also makes the burning of fossil fuels more efficient by reducing leaks in the critical fuel delivery system of vehicles. Fuel filler tubes made of S30403 stainless steel (containing about 10% nickel), for example, are more corrosion resistant than carbon steel tubes, and using these tubes... 

FNX Mining hikes '08 cost forecasts

By: Liezel Hill     29th May 2008 Toronto-based base-metals-miner FNX Mining Company has increased its cost guidance for the year, because of steeper third-party processing costs and start-up costs at the company's newest operation, the Podolsky mine. Average mining and processing costs for 2008 are now forecast at $135/t,... 

Albidon held ‘confidential’ talks with several parties as strategic review continues

By: Matthew Hill     29th May 2008 Nickel- and uranium-miner Albion has held "confidential discussions with a number of parties" as part of a strategic review of the company's growth options, after a shareholder said last month that it was putting its one-fifth holding up for sale. Australian media suggested... 

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