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Nickel News
IGO and Wyloo join forces on nickel processing
By: Esmarie Iannucci 17th February 2022 ASX-listed IGO will partner with Andrew Forrest’s Wyloo Metals to evaluate opportunities for downstream nickel processing in Australia, as Wyloo commits to support IGO’s bid for fellow-listed Western Areas. The agreement will see IGO and Wyloo Metals conduct a study, funded 70:30 by IGO and... →
South32 reports stellar first half, advances work at Hermosa
By: Esmarie Iannucci 17th February 2022 Diversified miner South32 has reported a 1 847% increase in profits after tax for the half-year ended December, along with record operating margins. Profits after tax for the first half of 2022 reached $1.03-billion, up from the $53-million reported in the first half of 2021, with underlying... →
First Quantum in solid cash flow generation phase
By: Mariaan Webb 16th February 2022 Canada’s First Quantum Minerals on Tuesday reported strong year-end financial results, as its operations continue to demonstrate resilience in dealing with the challenges brought on by the Covid-19 pandemic and new variants as they emerge. The copper miner reported earnings of $832-million, or... →
Sumitomo Metal Mining to spend big to boost output of nickel, battery materials
By: Reuters 16th February 2022 Sumitomo Metal Mining Co said on Tuesday it will triple its capital expenditure over the next three years to boost its output capacity of nickel and cathode materials used in batteries. The Japanese miner and smelter plans to spend 494-billion yen ($4.3-billion) in capital expenditure, excluding... →
It’s records all round for Glencore in ‘terrific’ 2021 
By: Martin Creamer 15th February 2022 2021 was a terrific year for the company, Glencore CEO Gary Nagle said on Tuesday, when he reported record earnings before interest tax depreciation and amortisation (Ebitda) of $21.3-billion, a record marketing performance Ebit of $3.7-bilion, and a record industrial business performance of... →
Glencore provides further support to Minnesota-focused PolyMet
By: Mariaan Webb 15th February 2022 TSX- and NYSE American-listed PolyMet Mining has entered into a subscription agreement for the issuance of unsecured convertible debentures of up to $40-million with commodities major Glencore. The funds would provide the company with the resources needed to work through remaining litigation and... →
Glencore’s earnings rocket 84% to $21.3bn
By: Martin Creamer 15th February 2022 Diversified mining and marketing company Glencore on Tuesday announced 84% higher financial results for the year, with earnings before interest tax depreciation and amortisation (Ebitda) rising to $21.3-billion. Looking forward, Glencore CEO Gary Nagle said the company remained focused on its... →
What conflict in Ukraine would mean for oil, gas and food
By: Bloomberg 15th February 2022 Tensions over Ukraine are entering a critical period, driving up prices of raw materials key to the global economy, and piling pressure on governments already struggling with surging inflation. The US has warned that Russia could attack its neighbor as early as this week, even though Moscow has... →
Mincor starts stockpiling ore
By: Esmarie Iannucci 15th February 2022 ASX-listed Mincor Resources has delivered a maiden parcel of high-grade nickel ore from its Northern operations at the Kambalda nickel project, to diversified miner BHP’s Nickel West Kambalda nickel concentrator. The company on Tuesday said that this marked a key milestone towards the resumption... →
Commodity prices drive BHP profits up
By: Esmarie Iannucci 15th February 2022 Diversified miner BHP has reported a 50% increase in profit for the half-year ended December, amid higher commodity prices, but has warned of cost increases in the near future. Profit from operations for the half-year reached $14.8-billion, while underlying earnings before interest, taxes,... →
Rio Tinto assembles team to explore new approaches to carbon mineralisation technology
By: Mariaan Webb 14th February 2022 Diversified major Rio Tinto will lead a team of climate innovation and research leaders to explore new approaches to carbon mineralisation technology to store carbon in solid rock form. Carbon mineralisation uses natural chemical reactions to convert captured carbon dioxide into rock and store... →
Aluminium and nickel climb on Russian supply angst
By: Reuters 14th February 2022 Aluminium and nickel prices headed towards multi-year highs on Monday due to escalating fears that reduced supplies from Russia would exacerbate existing shortages of both industrial metals. A Russian invasion of Ukraine could mean sanctions against Russian firms which include Norilsk Nickel... →
Red tape delaying R90bn investment in ready-to-go projects – Minerals Council
By: Martin Creamer 14th February 2022 Red tape is delaying investment worth R90-billion in ready-to-go mining-related projects, at a time when the South African economy is in desperate need of such projects proceeding, to create jobs and to stimulate economic growth. Projects worth R30-billion would be able to proceed if the 4... →
Weekly Commodities Market Wrap
By: Creamer Media Reporter 14th February 2022 ENERGIES - Coal continues strong although a market correction is imminent once European physical supplies are assured. The current strong physical premiums being enjoyed are likely to align back to paper market levels, especially considering that natgas, power and carbon markets were softer on... →
Green hydrogen strategy supporting development of R270bn Northern Cape pipeline
By: Martin Creamer 11th February 2022 Over the past year, the South African government has built on its successful hydrogen strategy to make major strides in positioning the country as a global leader in the green hydrogen market, President Cyril Ramaphosa stated during his State of the Nation Address. This positioning included the... →
Renault and US carmaker Rivian back moratorium on deep-sea mining
By: Reuters 11th February 2022 France's Renault and US carmaker Rivian have backed a moratorium on deep-sea mining and will exclude seabed metals from their supply chains in a blow to an industry that aims to capitalise on demand from electric vehicle and other industries. French President Emmanuel Macron has said deep seabed... →
Boliden sets extra dividend as metal price rise buoys profits
By: Reuters 11th February 2022 Swedish mining and smelting group Boliden unveiled an extra payout to shareholders on Friday as higher metal prices and record milled volumes at some of its main mines lifted earnings. The company said in a statement it was proposing an extra payment to shareholders of 15.50 Swedish crowns... →
Sherritt on earnings growth path with narrowed loss a share for FY21
By: Marleny Arnoldi 11th February 2022 Nickel and cobalt miner Sherritt International Corporation says it met its 2021 production and unit cost targets at each of its business units, despite continued sanctions against Cuba, where it is a 50% partner in the Moa project; rising input costs; and persistent Covid-19 impacts. This while... →
Republican US senator presses Energy Department on seabed mining
By: Reuters 11th February 2022 A top Republican US senator urged the US energy secretary this week to provide information on the Biden administration's strategy for domestic mining of minerals for electric vehicle batteries on the seabed floor. Seabed mining is a new industry that backers say can supply many of the metals... →
Foreseen renewables demand providing opportunity for job creation, just energy transition
By: Martin Creamer 10th February 2022 Demand already foreseen is providing South Africa with the far-reaching and very welcome opportunity to create sufficient new jobs – “and then some” – to ensure a just energy transition away from the country’s current climate-threatening carbon intensity, Mining Weekly can report. South Africa’s... →
From left, clockwise, Paul O’Flaherty, Dr Tsakani Mthombeni, Hein Reyneke, and Andre de Ruyter
Nornickel's core earnings jumped 37% in 2021
By: Reuters 10th February 2022 Norilsk Nickel said on Thursday its full-year core earnings jumped 37% in 2021 thanks to higher revenue from surging metal prices and the sale of stockpiled palladium left over from 2020. Nornickel, the world's largest producer of palladium and high-grade nickel, said earnings before interest,... →
Nickel Mines completes first part of capital raise
By: Esmarie Iannucci 10th February 2022 ASX-listed Nickel Mines has raised an initial A$`48-million as part of its larger $225-million equity raise to fund an initial 30% buy in the Oracle nickel project in Indonesia. The miner has completed the institutional component of the capital raise, issuing 108.1-million shares, at a price of... →
Glencore clinches marketing relationship with US metals business
By: Martin Creamer 9th February 2022 Diversified mining and marketing company Glencore has entered a strategic global marketing relationship with United States Strategic Metals, formerly Missouri Cobalt. Involved is a long-term offtake agreement for 100% of the US company’s products, which include cobalt and nickel sulphates,... →
Santa Rita has had 'outstanding' year - Atlantic Nickel
By: Mariaan Webb 9th February 2022 Atlantic Nickel, the owner of Brazil nickel and copper assets that Sibanye Stillwater previously planned to buy, has had an “outstanding” year at its Santa Rita nickel/copper mine, leaving the company in its strongest financial position yet. Santa Rita in 2021 produced 107 000 dry metric tonnes... →
Nickel Mines to raise $225m for Oracle buy
By: Esmarie Iannucci 9th February 2022 ASX-listed Nickel Mines has unveiled plans to raise $225-million to fund the acquisition of an initial 30% stake in the Oracle nickel project, in Indonesia. Nickel Mines in December has inked a definitive agreement with partner Shanghai Decent Investment to acquire a 70% equity interest in the... →
Metals, engineering need govt support to ensure sustainable economic recovery
By: Martin Creamer 8th February 2022 South African businesses in the metals and engineering sector have faced enormous challenges over the past few years, with the Covid-19 pandemic compounding an already difficult situation, Steel and Engineering Industries Federation of Southern Africa (Seifsa) said on Tuesday. Seifsa is a... →
Directors face potential liability for climate change risks – Webber Wentzel
By: Martin Creamer 8th February 2022 Directors face potential liability if they fail to carry out their fiduciary duties to curb climate change risks and do not make complete disclosures about climate-related risks, Webber Wentzel partner Merlita Kennedy and associate Tobia Serongoane stated on Tuesday. In a release to Mining... →
Electric vehicles drive up nickel, cobalt and lithium prices
By: Reuters 4th February 2022 Accelerating sales of electric vehicles have fuelled a scramble for nickel, cobalt and lithium, propelling prices of the battery materials to multi-year highs Phasing out internal combustion engine (ICE) cars in favour of electric vehicles is part of the energy transition and efforts to cut... →
EPA approves Oz Minerals' West Musgrave
By: Esmarie Iannucci 4th February 2022 The Western Australian Environmental Protection Authority (EPA) has backed copper/gold miner Oz Minerals' plans for its West Musgrave operations. Oz Minerals is proposing to develop two openpits, accommodation, an airstrip and processing facilities 100 km east of Warburton, near the South... →
Australian resource exports rise in 2021 - ABS
By: Esmarie Iannucci 4th February 2022 New data from the Australian Bureau of Statistics (ABS) has shown that Australia’s resources and energy exports in 2021 were up almost one-third on the previous year. The ABS’ International Trade in Goods and Services data for December 2021 shows total resources and energy exports were worth... →
Glencore enters battery recycling JV, targeting renewable-powered facility
By: Martin Creamer 3rd February 2022 Diversified mining and marketing company Glencore has entered a battery recycling joint venture (JV) with strategic partner and battery pioneer Britishvolt, a UK battery cell technologies and research and development investor. →
Mercedes-Benz CEO says raw material scarcity could delay e-mobility - Die Zeit
By: Reuters 2nd February 2022 Scarce supply of raw materials for electric cars could slow the transition from fossil-fuel burning vehicles to electric ones, Mercedes-Benz CEO Ola Kaellenius said in an interview with German paper Die Zeit on Wednesday. "The industrialization of mines and refinery capacities may not progress... →
Glencore reports 43% higher ferrochrome production
By: Martin Creamer 2nd February 2022 Diversified mining and marketing company Glencore on Wednesday reported 43% higher ferrochrome production in its full year 2021 production report. →
Construction starts at Nickel West's solar plant
By: Esmarie Iannucci 2nd February 2022 Construction has started on one of the world’s largest off-grid mining solar and battery energy storage systems at mining major BHP’s Nickel West Mt Keith and Leinster operations. The Northern Goldfields solar project, being built by TransAlta, includes a 27.4 MW solar farm at Mt Keith, a 10.7 MW... →
The squeeze in the nickel market is getting worse
By: Bloomberg 1st February 2022 The nickel market is showing more signs of stress. Stockpiles held by the London Metal Exchange extended their decline on Tuesday, with the last increase coming in October. Buyers are paying a massive premium for immediately deliverable futures. The key cash three-month spread, which briefly... →
Mitsui expresses interest to partner with Magna at Sudbury nickel project
By: Mariaan Webb 1st February 2022 TSX-V-listed Magna Mining has entered into a nonbinding memorandum of understanding (MoU) with global trading and investment group Mitsui & Co in what it hopes will be a long-term partnership to create a nickel mine in Sudbury, Canada. Mitsui will potentially acquire between 10% and 12.5% in... →
South Africa needs to embrace Ubuntu principles in going green, webinar hears
By: Martin Creamer 31st January 2022 In decarbonising and going green, South Africa needs to embrace the principles of Ubuntu and show humanity towards others. That view was expressed by Gold Fields South Africa executive VP Martin Preece during the 'Decarbonisation & Going Green in the Mining Sector' webinar hosted by Creamer Media... →
From top left, clockwise, are Abel Sakhau, Martin Preece, Jevon Martin, Nikisi Lesufi and James Mackay.
IGO in strong position for Western Areas buy
By: Esmarie Iannucci 31st January 2022 Metals miner IGO has reported a strong financial quarter and first half of 2022, with the company continuing to advance its acquisition of fellow listed Western Areas. Nickel production from the Nova operation reached 6 987 t during the second quarter ended December, up slightly from the 6 889 t... →
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