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R/$ = 17.1436 Change: 0.0442
Au 1741.82 $/oz Change: -16.42
Pt 992.00 $/oz Change: 8.00
 

Nickel News

Exploration junior Dwyka flies in to fill nickel gap, promote Swazi gold project

By: Martin Creamer     18th March 2009 London and Australian-listed exploration company Dwyka Resources flew into Johannesburg on Wednesday to hold talks with fund managers interested in filling BHP Billiton’s shoes in what appears to be a promising nickel project in Burundi – and, at the same time, provided an update of its gold... 

HudBay interim chief Benner preaches 'realism' amid market uncertainty

By: Liezel Hill     16th March 2009 Colin Benner, who stepped in as interim CEO of Canadian base-metals miner HudBay Minerals just under a week ago, set a sombre tone on Monday as he briefed analysts and investors on his plans. Benner replaced Allen Palmiere, who resigned after shareholder disapproval prompted the company to... 

Australia’s Lindian to explore for platinum, nickel in Guinea

By: Creamer Media Reporter      4th March 2009 ASX-listed mineral exploration company Lindian Resources has been granted four exploration licences for a potential platinum, nickel and copper project, in Guinea. The company told shareholders in a statement on Wednesday that the licences covered a total of 394 km2, situated at Dinguiraye, in... 

State finance body aids fledgling Finnish nickel producer Talvivaara 

By: Martin Creamer     4th March 2009 Fledgling Finnish nickel producer Talvivaara had been granted a facility from a financial company owned by the State of Finland, the London-listed company said on Wednesday. The company said that it might also seek a secondary Nasdaq OMX listing in Helsinki in March-April. 

Norilsk Nickel reviews the profitability of African assets

By: Jonathan Faurie     4th March 2009 Russian mining major Norilsk Nickel confirmed on Wednesday that it was reviewing its African assets, but rejected speculation that it was looking to terminate its involvement on the continent. Norilsk Nickel Africa MD Gerhard Potgieter said that the company is evaluating the profitability of its... 

Vale Inco, battling nickel slump, will cut 900 jobs

By: Liezel Hill     3rd March 2009 Nickel producer Vale Inco will eliminate about 900 full-time jobs at its global operations, in response to “ongoing challenges” in the world nickel market, the firm announced on Tuesday. The job cuts will mainly affect corporate management and “business support” employees.  

Albidon suspends Zambia’s Munali nickel mine on low prices

By: Creamer Media Reporter      3rd March 2009 ASX-listed African focused exploration company Albidon has suspended operations at its Munali nickel project in Zambia, with immediate effect, owing to depressed nickel prices. The company stated on Tuesday that equipment availability constrained mine production during January, but that this had... 

Western Areas produces first nickel concentrate from Cosmic Boy

By: Creamer Media Reporter      27th February 2009 ASX- and TSX-listed nickel sulphide company Western Areas’ Cosmic Boy nickel concentrate plant has produced its first nickel concentrate product. MD Julian Hanna stated that the concentrator would operate at a capacity of 300 000 t/y of ore, or 25 000 t/m, once it has reached steady state.  

Sherritt in talks with partners on funds for $4,5bn Ambatovy project

By: Liezel Hill     25th February 2009 Toronto-based Sherritt International is in talks with its partners on the large Ambatovy nickel project, in Madagascar, on financing alternatives, after hiking the estimated cost to build the mine to $4,52-billion, from a previous figure of $3,4-billion. Sherritt will not deplete its cash... 

Motsepe's Arm to spend R9bn, firm up African opportunities 

By: Martin Creamer     23rd February 2009 Cash-flush diversified mining company African Rainbow Minerals (Arm) would spend R9-billion in capital in the next three years, ARM executive chairperson Patrice Motsepe said on Monday. Although that was down on the R13-billion that the company was scheduled to spend to June 2011, it reflected... 

Expert calls for circumspection in deploying international mine closure toolkits

By: Leandi Kolver     20th February 2009 South African mining companies need to be careful when deploying international mine closure toolkits and must avoid simply transplanting ideas that might be relevant to another country, but are irrelevant to local circumstances, says the Centre for Sustainability in Mining and Industry’s... 

Norilsk suspends production at Australian nickel mines 

By: Esmarie Iannucci     16th February 2009 Russian metals giant Norilsk Nickel has announced that it would suspend its Black Swan and Lake Johnston nickel operations, in Western Australia, and would place the projects on care-and-maintenance, effective immediately. The decision came after a structural review, as well as the company’s... 

Crowflight ships first concentrate from Manitoba nickel mine

By: Liezel Hill     13th February 2009 TSX-listed Crowflight Minerals has shipped the first nickel concentrate from its Bucko Lake mine, in Canada's Manitoba province, the firm announced on Friday. The next milestone for the operation will be to reach commercial production, which is expected to be achieved early in the second quarter... 

Kiwara confirms high-grade nickel sulphide at Zambian project

By: Esmarie Iannucci     12th February 2009 JSE-listed Kiwara has verified the presence of high-grade nickel sulphide minerals at its Kawako project, in Zambia. The company on Thursday stated that various analytical techniques, by independent laboratories had also confirmed that there were no elements, which might adversely affect mining... 

Minara Resources withdraws from W Australian JV

By: Esmarie Iannucci     11th February 2009 Perth-based mineral exploration company Gryphon Minerals has received notification from Australia’s second largest nickel producer, Minara Resources, of its withdrawal from the Collurabbie and Mount Rankin project joint venture (JV). Both projects were fully owned by Gryphon, but Minara had sole... 

Xstrata Nickel cuts Sudbury jobs, curtails operations

9th February 2009 Xstrata Nickel will put its Fraser complex, in nickel-rich Sudbury, Northern Ontario, on care and maintenance, shelve a development project and cut 686 permanent jobs, the group announced on Monday. Xstrata, which cited "ongoing challenging market conditions", bought the assets when it acquired... 

Dutwa likely to be viable despite low nickel prices – African Eagle

By: Chanel de Bruyn     9th February 2009 The prospects for the Dutwa nickel laterite project, in Tanzania, were looking good, with diversified minerals exploration company, African Eagle Resources, reporting that the project could be economically viable even at the current low commodity prices. African Eagle MD Mark Parker told... 

FNX cancels $100m credit facility as borrowing costs soar

By: Liezel Hill     6th February 2009 Base-metals miner FNX Mining has opted not to renew a $100-million line of credit facility, because the costs involved would be "significant", and the company believes its balance sheet is strong enough to support planned spending in 2009. "As a result of the current global credit crisis, the... 

Vale agreed to cap Voisey's Bay shipments at 55 000 t/y for four years

By: Liezel Hill     4th February 2009 Nickel-miner Vale Inco will not export more than an average of 55 000 t/y of nickel in concentrate from Newfoundland and Labrador for the next four years, the firm said on Monday. Last week Vale reached an agreement with the Canadian province on plans to build a new nickel processing plant,... 

Norilsk reports higher nickel, copper output for '08

By: Liezel Hill     30th January 2009 Norilsk Nickel, the world's biggest producer of nickel, increased its production of the metal by 8,5% last year, to 299 700 metric tons (t), compared with 276 000 t in 2007. Copper production also rose, to 419 000 t, from 415 000 t a year earlier, the group said in a report on Friday. 

Vale, Canada province agree on nickel plant; concentrate shipments to resume

By: Liezel Hill     29th January 2009 Nickel-miner Vale Inco has reached an agreement with the government of Newfoundland and Labrador on plans to build a new nickel processing plant in the Canadian province, and concentrate shipments from the company's Voisey's Bay mine will resume "immediately" a company spokesperson said on... 

Ambatovy partners working on new development plan – Sherritt

By: Liezel Hill     28th January 2009 The owners of the Ambatovy nickel/cobalt mine, in Madagascar, will likely reach an agreement in the next few weeks on a plan to restructure the project, Sherritt International chairperson and CEO Ian Delaney said on Wednesday. Sherritt owns 40% and partners Sumitomo and Korea Resources each have... 

Sherritt CEO takes leave of absence, chairperson Delaney will step in

By: Liezel Hill     27th January 2009 Canadian diversified mining and energy firm Sherritt International has appointed chairperson Ian Delaney to assume the responsibilities of CEO, effective immediately. He will take over from president and CEO Jowdat Waheed, who has asked for a leave of absence “to deal with a family health... 

OSC orders HudBay vote on Lundin deal

By: Liezel Hill     23rd January 2009 The Ontario Securities Commission has set aside a decision by the TSX and ordered Canadian base-metals miner HudBay Minerals to hold a shareholders' vote on its plans to buy Lundin Mining. 

OZ Minerals arranges bridge loan

By: Liezel Hill     22nd January 2009 The world's second-biggest zinc producer, OZ Minerals, has secured a bridging finance facility of up to A$140-million, the firm announced on Thursday. The company has been struggling to refinance about $560-million of debt for months, and will use the money available through the bridge facility... 

Lundin will close Galmoy zinc mine in May

By: Liezel Hill     22nd January 2009 Base-metals miner Lundin Mining will permanently stop production at its Galmoy zinc/lead/silver mine, in Ireland, in May this year. The company, which is battling depressed metals prices, indicated in November that it would likely close the mine earlier than planned, after announcing that it... 

BHP Billiton announces cutbacks, to shed 6 000 jobs

By: Chanel de Bruyn     21st January 2009 Diversified miner BHP Billiton, which employed just over 100 000 people worldwide, would cut about 6 000 jobs at a number of operations by end June, the miner announced on Wednesday. “We believe as a result of the changes to production or investment decisions announced today we are likely to... 

Anglo halts Venezuela nickel mine, cites transport costs

By: Liezel Hill     20th January 2009 Diversified miner Anglo American has temporarily stopped production at the Loma mine, in Venezuela, the firm said on Tuesday. Operations were halted because of high slag transport costs, Anglo said in a presentation on its website.  

Hard Creek Nickel studies using Activox at BC mine

By: Liezel Hill     20th January 2009 Vancouver-based Hard Creek Nickel has contracted Norilsk Process Technology to determine the viability of using Norilsk's Activox technology to extract nickel and cobalt from concentrate produced at Hard Creek's Turnagain project, in British Columbia. The Activox technology, which has yet to be... 

Braemore study confirms viability of Oz nickel project

By: Esmarie Iannucci     20th January 2009 Nickel and platinum processor Braemore Resources on Tuesday reported that a detailed scoping study of its Leinster nickel tailings project, in Western Australia, confirmed the project viability, at an average production rate of 12 500 t/y. Preliminary results also indicated low operating costs... 

Norilsk Nickel expects revenue to fall to $8bn

By: Esmarie Iannucci     20th January 2009 The world’s biggest producer of nickel and palladium, Norilsk Nickel, expects its revenue for the 2009 financial year to drop to $8-billion, a company spokesperson confirmed on Tuesday. During the first half of 2008, the company reported revenue of about $8,3-billion, and total revenue for the... 

Albidon restructures Zambia nickel project to reduce costs

By: Esmarie Iannucci     20th January 2009 Africa-focused base-metals-miner Albidon has suspended the development of the northern decline at its Munali nickel project, in Zambia, as the current nickel price environment did not warrant the capital expenditure on the project. The Perth-based company explained that only lower grade mining... 

New Australian cobalt discovery could be one of world’s top producers

By: Chanel de Bruyn     15th January 2009 The Mount Thirsty cobalt/nickel/manganese project, in Western Australia, had the potential to become one of the world's top cobalt producers with a net present value of A$450-million, ASX-listed exploration and mining company Barra Resources announced. The miner said in a statement on Thursday... 

Base-metals-miner Oz Minerals shuts Australian mine

By: Esmarie Iannucci     13th January 2009 The world’s second-largest zinc producer, Oz Minerals, on Tuesday announced that it would put the Scuddles mine, at its Golden Grove operations in Western Australia, on care-and-maintenance. The company stated that operating costs would be reduced by about $15-million, and zinc production for... 

African Eagle restricts operations to Dutwa nickel project

By: Creamer Media Reporter      9th January 2009 In a bid to conserve cash and steer the company through the current period of economic turmoil, diversified minerals exploration and development company, African Eagle Resources, would cut its operating costs, review and renegotiate all its active contracts and place most of its advanced projects... 

Victory Nickel wraps up acquisition

By: Liezel Hill     5th January 2009 TSX-listed Victory Nickel has completed its acquisition of fellow Canadian Independent Nickel, after the transaction was approved by Independent shareholders on December 23. As of December 31, 2008, Victory owned about 84% of the then issued and outstanding Independent shares.  

Norilsk halts Tati nickel ops after fault at BCL smelter

By: Liezel Hill     24th December 2008 The world's biggest nickel producer, Russia's Norilsk Nickel, will halt its Tati mine and concentrator in Botswana for 12 days, after a furnace breakdown at the smelter that processes most of the concentrate from the mine. The company will assess its options during the shutdown, and will place... 

Oz Minerals reports increased gold, copper, zinc resources

By: Liezel Hill     24th December 2008 The world's second-biggest zinc miner, Australia's Oz Minerals, increased its mineral resources of gold, copper and zinc year-on-year, the company said on Tuesday. On June 30, the firm's mineral resources stood at 19-million ounces of gold, 5,9-million tons of copper and 18,2-million tons of... 

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