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Nickel News

Horizonte awards EPCM contract for Brazil ferronickel project

By: Mariaan Webb     23rd March 2022 Nickel developer Horizonte Minerals has awarded the engineering, procurement and construction management (EPCM) contract for the construction of its Araguaia ferronickel project to Pöyry Tecnologia, a Brazilian subsidiary of global engineering services firm AFRY. In parallel with the award of... 

London nickel trading shows signs of recovery after two weeks of chaos

By: Reuters     22nd March 2022 The London Metal Exchange's (LME) benchmark nickel contract fell again on Tuesday but for the first time since resuming trade on March 16 the contract didn't hit its downside limit and metal was changing hands. The pick-up in activity suggests the market is starting to return to normal after... 

Parliaments must act swiftly to reduce climate change – Mapisa-Nqakula  

By: Martin Creamer     22nd March 2022 National Assembly speaker Nosiviwe Mapisa-Nqakula on Monday urged heads of the world's Parliaments gathering at the 144th plenary assembly of the Inter-Parliamentary Union to undertake all necessary efforts to deal with climate change through oversight and the constitutional powers of the... 

South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula
South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula

Nickel drops 12% in another glitchy start to London trading 

By: Bloomberg     18th March 2022 Nickel dropped by the maximum allowed for a third day in another glitchy opening for trading in London, as the price continues its retreat from an unprecedented short squeeze last week. Nickel dropped 12% to the daily limit of $36 915/t, although at least three trades went through at a price... 

Ardea's WA nickel project granted Major Project status

By: Esmarie Iannucci     18th March 2022 ASX-listed Ardea Resources’ A$1.16-billion Kalgoorlie nickel project has been granted Major Project status by the federal government. The project will produce cobalt-nickel ore which will undergo a process to produce mixed hydroxide precipitate, which is used as raw material in the growing... 

Image shows dump truck and nickel ore stockpiles

Now’s the time for full energy freedom, says green hydrogen stalwart Andrew Forrest 

By: Martin Creamer     17th March 2022 Let’s give energy sovereignty to the world. Renewable energy is everywhere. Every country can produce it. Now is the time to capture it, and have full energy freedom, enthused Fortescue Metals Group nonexecutive chairperson Andrew Forrest, while being interviewed by CNN anchor Christiane... 

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Photo by Creamer Media
Fortescue Metals Group nonexecutive chairperson Andrew Forrest (right), being interviewed by CNN anchor Christiane Amanpour.

Horizonte closes project finance for Araguaia

By: Creamer Media Reporter      16th March 2022 Dual-listed Horizonte Minerals has closed agreements with two export credit agencies for senior project finance debt of $346.2-million to advance its Araguaia nickel project, in Brazil. The senior debt facility will include a commercial senior facility of $200-million, an export credit agency... 

LME nickel trading halted in chaotic market resumption

By: Reuters     16th March 2022 The London Metal Exchange (LME) halted nickel trading on its electronic system shortly after it reopened on Wednesday after technical issues allowed a small number of trades to be executed below the new daily price limit. The nickel market was suspended on March 8 after China's Tsingshan Holding... 

Markets must adapt to lack of Russian, Ukrainian commodities, Glencore says

By: Reuters     16th March 2022 Global commodity markets will need to adapt to a lack of supply from Russia and Ukraine, global miner and commodities trader Glencore said in its annual report on Wednesday. "Over time, global commodity trade flows will need to adapt to some or all of Russian/Ukrainian supply being unavailable,... 

Caution reigns as nickel trading resumes in London

By: Reuters     16th March 2022 Nickel trading on the London Metal Exchange (LME) resumes on Wednesday a week after it was suspended with limits on price movements to prevent disorderly trading after wild swings triggered a rare market shutdown. China's Tsingshan Holding Group bought large amounts of nickel to reverse bets on... 

Sipho Nkosi’s red tape cutting role crucial to encourage investment – Menar  

By: Martin Creamer     15th March 2022 The appointment of mining stalwart Sipho Nkosi to cut red tape is crucial to encourage new investment and expand existing investment in South Africa, says Menar MD Vuslat Bayoglu, whose private investment company has about R1.5-billion worth of investment being delayed by regulatory processes.... 

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Menar MD Vuslat Bayoglu interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Altus sells nickel/cobalt licence to Firering

By: Marleny Arnoldi     15th March 2022 TSX-V- and Aim-listed Altus Strategies will sell its Toura nickel/cobalt licence application, in Côte d'Ivoire, to Aim-listed Firering Strategic Minerals for €15 000 and a gross revenue royalty (GRR) of up to 1% on future production from the project. Altus’ business model includes the... 

Nornickel not changing long-term view, despite logistical issues

By: Reuters     15th March 2022 Russian mining giant Nornickel on Tuesday said it was not changing its long-term view on the metals sector and that it would continue to carry out its plans, despite acknowledging logistical issues. "On the long-term horizon, we are not changing our view in principle," said Senior Vice President... 

Nornickel not changing long-term view, despite logistical issues

Karora moves to capitalise on nickel opportunities

By: Mariaan Webb     15th March 2022 Toronto-headquartered gold junior Karora Resources is making every effort to capitalise on the strong nickel price environment and is moving “as quickly as possible” to bring new nickel areas into production, CEO Paul Andre Huet said on Monday. He said Karora, which focuses on precious metals in... 

Karora moves to capitalise on nickel opportunities

Equivalent of a Koeberg arising in solar projects – AmaranthCX  

By: Martin Creamer     14th March 2022 The equivalent of a Koeberg power station is arising in the form of new largely mine-linked private-sector solar power photovoltaic projects across Southern Africa, according to AmaranthCX director and founder Paul Miller, whose company is working on the second edition of its electronic map of... 

Creamer Media screenshot
AmaranthCX director Paul Miller interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Senators urge Biden to invoke defence act for battery materials

By: Bloomberg     14th March 2022 US Senators sent a bipartisan letter to the Biden administration Friday afternoon asking the President to invoke the Defense Production Act to accelerate production of battery materials that are needed to power electric vehicles. The letter, signed by Democrat Joe Manchin and Republicans Lisa... 

IGO/Western Areas deal delayed

By: Esmarie Iannucci     14th March 2022 Russia’s invasion of Ukraine, and the subsequent volatility in the nickel market, has resulted in a delay in ASX-listed Independence Group (IGO’s) takeover of fellow listed Western Areas. Western Areas on Monday told shareholders that in response to the recent significant nickel price... 

Richest Russian dissents on Putin’s tit-for-tat over sanctions

By: Bloomberg     11th March 2022 Billionaire Vladimir Potanin, Russia’s richest man and one of the few tycoons to escape sanctions, tore into every aspect of his country’s retaliation against international penalties enacted over President Vladimir Putin’s invasion of Ukraine. The biggest shareholder in Norilsk Nickel warned... 

An image of Vladimir Potanin
Norilsk Nickel's biggest shareholder, Vladimir Potanin

Chinese tycoon tells banks he wants to keep shorting nickel

By: Bloomberg     11th March 2022 The Chinese tycoon whose big short bet on nickel helped trigger one of the most dramatic price spikes in history has told his banks and brokers that he doesn’t intend to reduce his position, according to people familiar with the matter. The move is a characteristic display of self-confidence... 

Philippines expecting a dozen new mines this year, mostly nickel

By: Reuters     11th March 2022 About 12 new metallic mines in the Philippines should begin commercial operations this year, mostly nickel projects, adding to a "bright" outlook for a sector enjoying cash windfall from high prices, the local industry regulator said on Friday. The Mines and Geosciences Bureau also said in a... 

Nickel Mines cancels A$18m SPP amid market volatility

By: Esmarie Iannucci     11th March 2022 ASX-listed Nickel Mines has shelved plans for an A$18-million share purchase plan (SPP), despite applications far exceeding its target. The company in February announced the SPP as part of a larger A$225-million funding plan to finance the acquisition of an initial 30% stake in the Oracle... 

Karelian expands Northern Ireland minerals search into nickel/copper

By: Mariaan Webb     10th March 2022 Developer and explorer Karelian Diamond Resources is expanding its exploration programme in Northern Ireland into nickel, copper and platinum, the company announced on Thursday, stating that it had applied for two licences covering about 500 km2 adjacent to its existing KDR-1 licence. The... 

Gratton says Canada should do more to seize mining opportunities 

By: Mariaan Webb     10th March 2022 Canada has long been the dominant global mining nation – in mineral production, mining finance, mining services and supplies, and sustainability and safety, but Mining Association of Canada (MAC) president and CEO Pierre Gratton has warned that there are signs this position is slipping. Citing... 

MAC president and CEO Pierre Gratton has warned that Canada's position as mining leader is slipping
MAC president and CEO Pierre Gratton has warned that Canada's position as mining leader is slipping

Lithium Americas CEO says mining reform needed for EV metals supply

By: Reuters     10th March 2022 The United States should do more to streamline permitting of new mines for electric vehicle metals and not expect to rely solely on recycling of old batteries for supply, the CEO of Lithium Americas said on Wednesday. "You have to actually build out all the infrastructure and get these materials... 

Investors flee as aluminium, others spiral lower after nickel suspension

By: Reuters     10th March 2022 Base metals slumped on Wednesday, including aluminium despite continued worries about Russian supply, as cautious investors slashed positions in the wake of a halt in trading of skyrocketing nickel. Many metals saw losses of over 5% while tin tumbled nearly 20%. Traders had been warning in... 

Canada Nickel announces C$25m offering

By: Mariaan Webb     9th March 2022 TSX-V-listed Canada Nickel has announced a C$25-million bought-deal financing, which CEO Mark Selby says will provide the company with the flexibility to remain well-funded with a broader base of institutional shareholders to support the company as it continues to advance the Crawford project, in... 

LME suspends nickel trading after prices soar past $100 000

By: Reuters     8th March 2022 The London Metal Exchange (LME) halted nickel trading on Tuesday after prices doubled to a record $100 000/t, fuelled by a race to cover short positions after Western sanctions threatened supply from major producer Russia. The rare move underscores the market panic created by Russia's invasion... 

LME suspends nickel trading after prices soar past $100 000

Nickel surge may have Vale reworking its base metal calculations

By: Bloomberg     8th March 2022 There’s one simple reason why Vale SAwas one of the few shining lights among major Brazilian shares Monday -- nickel. While Vale gets most of its earnings from iron-ore, it’s also one of the world’s biggest producers of nickel. The metal that helps makes steel stainless and is used in... 

Nickel surge may have Vale reworking its base metal calculations

Carmakers face soaring metal costs with Russian supplies at risk

By: Reuters     8th March 2022 Saving up for a new ride? Better start putting more cash aside. Russia's invasion of Ukraine is ramping up the price of metals used in cars, from aluminium in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are likely to the... 

Canada forges new EV supply chain path in bid to secure growth

By: Bloomberg     8th March 2022 Canada, a major car and parts producer, is bolstering its battery and electric vehicle supply chain to ensure future growth for its vital $10-billion auto industry. On Monday, General Motors and Posco Chemical announced a $400-million investment in a new Quebec facility to produce cathode active... 

Brazil selects Centaurus' Jaguar as ‘strategic’ project

By: Creamer Media Reporter      7th March 2022 Brazil has selected the Jaguar project as a “strategic minerals” project, recognising its status as a significant long-life nickel sulphide project, ASX-listed Centaurus Metals reported on Monday. The Strategic Minerals Policy is part of the Investment Partnership Programme, a new Brazil... 

Nickel prices spike 30% to 15-year high

By: Reuters     7th March 2022 Nickel prices jumped 30% to near 15-year highs and aluminium climbed to a record above $4 000/t as fears of major disruptions to supplies due to financial sanctions on Russia fuelled a buying frenzy. Russia supplies the world with around 10% of its nickel needs mainly for stainless steel and... 

Ukraine invasion sets back Musk's dream for cheaper EVs, for now

By: Reuters     7th March 2022 Surging raw materials costs, made worse by Russia's invasion of Ukraine, could set back the dream of Tesla CEO Elon Musk and other auto executives to roll out more affordable electric vehicles. Rising prices of nickel, lithium and other materials threaten to slow and even temporarily reverse the... 

An image of Elon Musk
Surging raw materials costs could set back the dream of Tesla CEO Elon Musk to roll out more affordable EVs.

Weekly Commodities Market Wrap

7th March 2022 ENERGIES – The price gyrations in oil, gas and coal have been spectacular and eye-watering. Coal has been the biggest winner in the European Union (EU) energy complex by far. But this is very much a spot crisis, as curves remain steeply backwardated. With most distressed buyers having already... 

A table showing the latest spot market prices for various commodities

Commitment to green economy is crucial, says ARM’s Patrice Motsepe 

By: Martin Creamer     7th March 2022 Diversified mining company African Rainbow Minerals (ARM) has reiterated its commitment to transitioning from coal to renewable energy, with its executive chairperson Patrice Motsepe describing the global commitment to the green economy as being not only important but crucial. Motsepe was... 

Creamer Media photograph
Photo by Creamer Media
African Rainbow Minerals executive chairperson Patrice Motsepe.

Copper soars to record as metals surge on Russia supply fears

By: Bloomberg     7th March 2022 Metals are breaking new records with copper spiking to an all-time high and nickel surging more than 16%, as soaring energy prices and fears of supply shocks rattled commodities markets amid war in Ukraine. The White House said it’s talking to allies about a possible oil embargo on Russia,... 

An image of copper and nickel production

Decarbonisation standing out as key metals/mining value driver – Wood Mackenzie  

By: Martin Creamer     4th March 2022 As pressure mounts for the world to align meaningfully with the 1.5 °C global temperature rise scenario, decarbonisation is standing out as a key driver of metals and mining value. “This has strengthened our view that the mining industry now has a clear pathway towards long-term transformative... 

Creamer Media screenshot taken during webinar.
Wood Mackenzie future facing mined commodities forum covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining companies may pause growth plans amid Ukraine war, inflation

By: Reuters     4th March 2022 Flush with cash after bumper earnings, mining companies straddle a delicate balancing act as they benefit from soaring commodity prices amid the Ukraine-Russia crisis but also potentially face high inflation that could hit short-term demand and slow down growth plans, analysts said. The world's... 

Mining companies may pause growth plans amid Ukraine war, inflation
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