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Nickel News
Sephaku splits sale of its gold and nickel assets
By: Loni Prinsloo 14th October 2010 JSE-listed diversified minerals exploration and development company Sephaku Holdings said on Thursday that it would split the planned sale of its gold and nickel assets. Initially, Sephaku envisaged that Mandra Capital and private investor Mong Seng Wu (Wu Group) would buy 100% of Sephaku Gold... →
Poseidon to start production in next two years
By: Creamer Media Reporter 14th October 2010 ASX-listed Poseidon Nickel on Thursday reported that its Windarra deposit, in Western Australia, would start production within the next two years. Speaking at the Paydirt Nickel Conference, Poseidon CEO David Singleton said that the company would spend just under an initial $55-million to move... →
European Nickel sees strong interest in Turkey project
By: Esmarie Iannucci 14th October 2010 ASX- and Aim-listed nickel developer European Nickel on Thursday said that its funding arrangements for the Çaldağ mine, in Turkey, should be completed within the next two months. Finance director Mark Hanlon told Mining Weekly Online that the company still needed to secure around $300-million... →
Western Areas to raise A$20m for Finland project in early 2011
By: Esmarie Iannucci 14th October 2010 Australian nickel producer Western Areas was aiming to have a financial partner for its Finland project on board by the beginning of next year. Speaking on the sidelines of the Paydirt Nickel Conference, Western Areas operations director Daniel Lougher told Mining Weekly Online that the company... →
Nickel price ‘sustainable’ at $20 000/t – Alto Capital
By: Creamer Media Reporter 13th October 2010 Investment bank and advisory service Alto Capital has predicted that the $20 000/t nickel price was sustainable in the medium term, however foreign exchange currency movements could unbalance the price strength. Research analyst Carey Smith told delegates at the Paydirt Nickel Conference that... →
Corazon declares 1,8Mt nickel resource at Lynne Lake in Canada
By: Esmarie Iannucci 13th October 2010 ASX-listed explorer Corazon Mining has declared a maiden resource for the El mine, part of the Lynn Lake nickel sulphide project, in Canada. Using the Paydirt Nickel Conference in Perth as a platform, MD Brett Smith said that the project now had an inferred resource of 1,8-million tons, grading... →
Metallica to start Queensland nickel DFS next year
By: Creamer Media Reporter 13th October 2010 ASX-listed Metallica Minerals on Wednesday reported that it was likely to start a definitive feasibility study (DFS) into its Nornico nickel mine, in Queensland, by early next year. The DFS process would take an estimated 12-months, which would allow for maiden production to start by late 2013. →
Vietnam’s first underground nickel mine may open in 2011
By: Esmarie Iannucci 13th October 2010 TSX-listed Asian Mineral Resources was looking to produce the first nickel at its Ban Phuc nickel project, in Vietnam, by late 2011. The $95-million project, which was Vietnam’s first underground nickel mine, was currently around 65% complete, said company president Robert Guest at the first day... →
WA nickel sector on recovery path
By: Esmarie Iannucci 13th October 2010 Western Australia’s nickel industry is on a stable path to recovery, following the end of the global financial crisis, Western Australian Mines and Petroleum Minister Norman Moore said on Wednesday. He told delegates at the Paydirt Nickel Conference, in Perth, that figures from the Department of... →
IMF says 'few signs' metals supply can keep up with demand
By: Esmarie Iannucci 7th October 2010 An era of scarcity and rising prices for base metals is likely to continue for some time, as there have been "few convincing signs" that supply would catch up with demand, the International Monetary Fund (IMF) reported. "Analysis suggests that base metal prices are only about halfway through the... →
Ivory Coast to open iron, nickel mines in 2014
By: Reuters 6th October 2010 Ivory Coast will start extracting iron ore and nickel from proven deposits in its west and exporting them via a planned rail link to the port of San Pedro by 2014, the state mining company said on Tuesday. The West African nation is better known for its cocoa, which feeds two thirds of world... →
Niger Uranium to invest $3,6m in SA, Zimbabwe nickel JV
By: Chanel de Bruyn 5th October 2010 Aim-listed Niger Uranium has committed to investing $3,6-million in a nickel exploration joint venture (JV) with Southern African Nickel (SAN) over the next 20 months. SAN held an interest in a portfolio of nickel assets in Southern Africa, including the Burgersfort project in South Africa and... →
Talks to end Voisey's Bay strike break down – Vale
By: Liezel Hill 4th October 2010 The latest round of contract negotiations between Brazilian miner Vale and unionised workers at its Voisey's Bay nickel operations, in Newfoundland and Labrador, ended without a settlement, the company reported on Monday. The United Steelworkers Union is bargaining on behalf of 130 striking mine... →
Vale gets $1bn loan from Canada's EDC
By: Liezel Hill 4th October 2010 Export Development Canada will provide up to $1-billion in financing to Brazilian mining group Vale, to help fund projects in Newfoundland and Labrador and Ontario, and for the purchase of Canadian products and services for the group's international operations. Up to $250-million will be... →
Crowflight plans another stoppage at Bucko Lake, Jinchuan offer expired
By: Liezel Hill 1st October 2010 Canadian nickel miner Crowflight has not received an extension to an offer letter from China's Jinchuan Group, and so considers the takeover offer received from Jinchuan to have expired, the company said on Friday. Crowflight also announced that it will temporarily suspend operations again at... →
Liberty shares rise on higher production
By: Liezel Hill 1st October 2010 TSX-listed Liberty Mines increased ore throughput at its Redstone nickel concentrator, in Ontario, by 69% in the third quarter, to 95 587 t, compared with 56 520 in the second quarter, the firm said on Friday. Shares in Liberty jumped on the news, rising 19,44%, to 21,5 Canadian cents apiece, by... →
Nyota raises £21,6m for Ethiopia project
By: Mariaan Webb 29th September 2010 Gold and nickel explorer Nyota has raised £21,58-million through a placing of shares to fast track exploration and development work at its Tulu Kapi deposit in Ethiopia, it announced on Tuesday. The deposit remains open in three directions and at depth and the additional funding would allow the... →
Vale announces share buyback, plans Hong Kong listing
By: Liezel Hill 24th September 2010 Shares in Vale, the world's second-biggest mining company, rose on Friday after the company said it will buy back up to $2-billion worth of shares, pay a $1-billion extraordinary dividend and plans to list on the Hong Kong Stock Exchange. Over the next 180 days, Vale will repurchase up to... →
African Eagle says Dutwa prefeasibility study delayed
By: Chanel de Bruyn 23rd September 2010 The completion of a prefeasibility study (PFS) at London-listed African Eagle’s Dutwa nickel project, in Tanzania, would be delayed until the third quarter of 2011, chairperson Euan Worthington reported on Thursday. The exploration company had initially expected the PFS to be completed by the... →
Crowflight still battles issues at Bucko Lake
By: Liezel Hill 17th September 2010 Nickel-miner Crowflight Minerals will miss its productiont target for this month at the Bucko Lake mine, in Manitoba, the company said on Friday. The mill was unavailable six days early in September for relining of the nickel concentrator rod mill, and so Crowflight does not expect to meet its... →
Franconia Minerals mulls asset sales, other deals
By: Liezel Hill 16th September 2010 TSX-listed Franconia Minerals has launched a process to look at potential transactions that could get the best value for shareholders and help advance the company's Birch Lake project, in Minnesota. The company has formed a strategic review committee of independent directors, and appointed... →
SA mining output drops, gold down 3,4%
By: Creamer Media Reporter 9th September 2010 South Africa’s mining output fell by 1% year-on-year in July, with gold output down 3,4% year-on-year, Statistics South Africa revealed on Thursday. Iron-ore production fell by 4,5%, copper output by 31,5%, platinum-group metals (PGMs) declined by 0,7%, nickel by 3,8% and coal output dropped by... →
Mirabela Nickel plans to raise up to $165m
By: Esmarie Iannucci 8th September 2010 ASX- and TSX-listed Mirabela Nickel was looking to raise between $135-million and $165-million through an institutional share placement, the company said on Wednesday. Subject to shareholder approval, it would also seek to raise a further $7-million through a share placement to directors, and a... →
Western Areas reports record nickel output
By: Esmarie Iannucci 7th September 2010 ASX- and TSX-listed Western Areas has reported record nickel production of 6 278 t for the first two months of the 2011 financial year. The company said in a statement on Tuesday that the production exceeded its target by 60%, and provided further confidence that the 2010/11 goal of 25 000 t/y... →
Crowflight still talking to Jinchuan on offer
By: Liezel Hill 3rd September 2010 Nickel-miner Crowflight Minerals is still in negotiations with representatives from China's Jinchuan Group on a potential takeover of the company, Crowflight said on Friday. The offer technically expired on August 31, but talks continue and Crowflight intends to seek an extension to the validity... →
Quadra FNX names new COO
By: Liezel Hill 1st September 2010 Vancouver-based Quadra FNX Mining has appointed Michael Winship as COO, starting September 1, the company said on Wednesday. He replaces Jack Miller, who is retiring. →
Lundin boosts copper reserves at Neves Corvo
By: Liezel Hill 31st August 2010 Toronto-based Lundin Mining has increased both reserves and resources of copper at its Neves-Corvo mine, in Portugal, since its last update six months earlier. Lundin, which reported resource and reserve estimates for its mines in Europe and Africa as of June 30, said on Tuesday that copper... →
First Quantum mulls second arbitration case after DRC mine suspended 
By: Liezel Hill 30th August 2010 Base-metals miner First Quantum Minerals may go to international arbitration to protect its rights to the Frontier mine, in the Democratic Republic of Congo, after it suspended operations last week. CEO Philip Pascall said on a conference call that the arbitration case would be heard by... →
Western Areas achieves A$14,2m profit
By: Esmarie Iannucci 26th August 2010 Nickel producer Western Areas on Thursday reported that it had achieved its first full year of profit, topping A$14,2-million in the financial year ended June 30. This was compared with a loss of A$35,1-million for the previous financial year. →
First Nickel plans C$30m loan facility
By: Liezel Hill 26th August 2010 Toronto-based First Nickel has signed an engagement letter to appoint Societe Generale and Commonwealth Bank of Australia to act as exclusive lead arrangers for a senior secured project loan facility up to C$30-million, the firm said on Wednesday. First Nickel plans put the funds towards... →
BHP Billiton's Southern African aluminium smelters going ex-growth?
By: Martin Creamer 25th August 2010 Southern Africa's aluminium smelters appear to be heading for an ex-growth future. BHP Billiton CEO Marius Kloppers, who has announced a 16%-higher $12,5-billion profit for the world's largest mining company in the 12 months to June 30, indicates that new "ubiquitous" aluminium technology and... →
Exxaro just misses injury rate reduction target
By: Jonathan Faurie 20th August 2010 In an effort to follow in Anglo American’s footsteps to aim towards zero fatalities across all of its operations, diversified black economically-powered mining major Exxaro has decreased its lost-time-injury-frequency rate (LTIFR) by 13% to 0,30. →
Mincor back in the black, posts A$28m profit
By: Esmarie Iannucci 19th August 2010 Nickel producer Mincor Resources has returned to profitability after the end of the global financial crisis, reporting a net profit of A$28,1-million for the year ended June. MD David Moore said that the return to profit laid the foundations for the next phase of the company’s growth. →
Crowflight Q2 loss widens, Jinchuan offer still on
By: Liezel Hill 17th August 2010 Canadian nickel-miner Crowflight recorded a net loss of C$5,1-million for the second quarter of 2010, compared with a C$3,3-million loss a year earlier. The company said that it has received confirmation from Chinese suitor Jinchuan that its cash offer for the company remains valid. →
Quadra FNX now targets 2014 for Sierra Gorda start-up
By: Liezel Hill 13th August 2010 Canadian base-metals miner Quadra FNX is now looking at 2014 for first production from the Sierra Gorda project, in Chile, but won't have any firm details until it completes a feasibility study on the project, which is expected later this year. Quadra FNX was created in May by combining Quadra... →
Botswana partners study $140m base-metals retreatment plant
By: Creamer Media Reporter 12th August 2010 Botswana-based base-metals miner BCL has signed an agreement with fellow Botswana-based group, Global Initiatives, to investigate constructing a $140-million plant to retreat mine tailings and smelter slag at BCL’s Selebi Phikwe mine. The parties have agreed to form a public–private partnership... →
First Quantum says DRC arbitration could take years
By: Matthew Hill 12th August 2010 Vancouver-based First Quantum Minerals (FQM) expects its arbitration with the Democratic Republic of Congo (DRC) government over the rights to a copper mine could take years to resolve. Speaking on a conference call on Wednesday, FQM president Clive Newall said that there would be a hearing in... →
SRK report confirms viable restart of Mwana’s Trojan mine
By: Loni Prinsloo 10th August 2010 Mwana Africa said on Tuesday that consultancy firm SRK had completed a competent person's report that confirmed the viability of the restart of its operations at the Trojan mine in Zimbabwe. The report would also enable Mwana's majority-owned Bindura Nickel Corporation (BNC) to complete... →
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