LME fights to regain trust after last year’s nickel crisis

Mining News Pro - The embattled London Metal Exchange is still trying to rebuild faith in its nickel contract after an epic short squeeze last year, according to chief executive officer Matthew Chamberlain.

Nornickel board recommends no dividend for first time in 14 years

Mining News Pro - The board of Russian mining group Norilsk Nickel has recommended not paying dividends on its 2022 results for the first time in 14 years, citing “negative geopolitics”, but may consider paying interim dividends, the company said on Friday.

Philippines to woo investors in nickel ore processing

Mining News Pro - The Philippines is working to woo investment into its domestic nickel processing sector, the environment minister said on Thursday, as the resource-rich country looks to squeeze value out of its metals and minerals industry.

Horizonte closer to beginning production at Brazil nickel project

Mining News Pro - Horizonte Minerals (AIM, TSX: HZM) said on Monday it was on track to begin production at its Araguaia nickel mine in northern Brazil in the first quarter of 2024.

LME brokers see big gains in 2022 from volatility after nickel debacle

Mining News Pro - Most brokers and banks trading on the London Metal Exchange (LME) had a bumper year in 2022 in a highly-volatile market, but a provision by JP Morgan due to a nickel crisis weighed on its profits, according to results and industry sources.

Indonesia nickel giant lists at top of range raising $672 million

Mining News Pro - Metal and mining firm PT Trimegah Bangun Persada advanced in its Jakarta debut after raising 10 trillion rupiah ($672 million) in Indonesia’s largest initial public offering this year. The sale shed light on the growing investor appetite for the country’s electric-vehicle sector.

AQR leads 10 hedge funds suing LME over nickel trade debacle

Mining News Pro - AQR Capital Management formally filed a London lawsuit against the London Metal Exchange, joining nine other hedge funds in a series of claims targeting the exchange’s decision to cancel billions of dollars in nickel trades last year.

LME nickel to trade in Asian hours for first time since crisis

Mining News Pro - The London Metal Exchange will reopen nickel trading during Asian trading hours from March 20, in what is likely to provide an important liquidity boost for the market that has struggled to recover after last year’s crisis.

Teck, PolyMet launch NewRange Copper Nickel JV to advance Minnesota projects

Mining News Pro - Teck and PolyMet have launched the NewRange Copper Nickel joint venture with the aim to supply critical minerals for the clean energy transition across North America. Together, they plan to become the second nickel producer in the US.

Trafigura tells its banks they aren’t exposed to nickel fraud

Mining News Pro - Trafigura Group is briefing lenders that none of its banks have direct exposure to the nickel deals at the center of what the commodity trader is calling a systematic fraud perpetrated against it.

Vale Indonesia breaks ground on $2.5 billion ferronickel smelter

Mining News Pro - Nickel miner PT Vale Indonesia broke ground on a 37.5 trillion rupiah ($2.48 billion) ferronickel smelter Sulawesi island on Friday, an Indonesian senior minister said.

Stillwater expands resource, nickel by more than half at Montana project

Mining News Pro - Stillwater Critical Minerales has increased its resource estimate tonnage significantly at its Stillwater West battery and platinum metals project in Montana as it looks to emulate world-leading neighbour Sibanye-Stillwater.

SPC Nickel enters agreement with Vale to consolidate deposits in Sudbury camp

Mining News Pro - SPC Nickel has entered into a cooperation agreement with Vale Canada that would see the company consolidate the West Graham and Crean Hill 3 nickel-copper deposits located in the Sudbury mining camp into a single project.

World’s biggest nickel projects

Mining News Pro - Nickel is used mainly in the steelmaking process, but also in production of batteries for electric vehicles, and it is the metal that has grabbed the most headlines so far this year.

Continuation of pressures on China's nickel sulfate

Weakening demand continues to add pressure to Chinese nickel sulfate, MHP markets

Mining News Pro - Nickel sulfate prices in China fell again in the week to December 9 due to continuing production cuts by downstream sectors, market sources told Fastmarkets.

Nickel Ore Inventories at Chinese Ports Up 235,000 wmt WoW

Mining News Pro - As of December 16, port inventories of nickel ore in China added 235,000 wmt to 9.12 million wmt compared with last Friday.

LME says it saved nickel market from $20 billion ‘death spiral’

Mining News Pro - The LME on Monday provided its most detailed account yet of the historic short squeeze this year when prices soared 250% in little over 24 hours, in a filing outlining its defense against lawsuits from Elliott Investment Management and Jane Street.

Tesla-backed nickel miner cuts output after waste dam leak

Mining News Pro - The troubled Goro nickel mine — one of the world’s largest deposits, which is part-owned by Trafigura Group and backed by Tesla Inc. — has been forced to reduce production to address a leak from its tailings dam.

Responsible copper mining framework extended to nickel, zinc and molybdenum

Mining News Pro - Brülhart says smelters and refiners that have been audited are not included in this figure to eliminate the possibility of double counting as metal passes through the supply chain.

Electra Battery’s nickel refinery plans starting to take shape

Mining News Pro - Canadian firm Electra Battery Materials has announced the highlights of a scoping study for an integrated nickel refinery, as part of its vision of creating an electric vehicle (EV) battery materials park in Ontario.

Vale sees 44% increase in global nickel demand by 2030

Mining News Pro - Brazilian mining company Vale said on Wednesday that global demand for nickel should increase 44% by 2030 compared to that expected for this year, due to high demand for use in batteries that power electric vehicles.

EU, US step up Russian aluminum, nickel imports since Ukraine war

Mining News Pro - The European Union and United States have ramped up buying key industrial metals from Russia, data showed, despite logistical problems spurred by the war in Ukraine and tough talk about starving Moscow of foreign exchange revenue.

FPX outlines 43,500 t/y integrated nickel sulphate operation in scoping study

Mining News Pro - FPX Nickel has announced results of an internal engineering scoping study evaluating the production of nickel sulphate for the electric vehicle battery market from the high-grade awaruite to be produced by the company’s Baptiste nickel project in central British Columbia.

Vale sees 44% increase in global nickel demand by 2030

Mining News Pro - Brazilian mining company Vale said on Wednesday that global demand for nickel should increase 44% by 2030 compared to that expected for this year, due to high demand for use in batteries that power electric vehicles.

Vale Indonesia signs $2 billion nickel project deal with Shandong Xinhai

Mining News Pro - Nickel miner PT Vale Indonesia on Tuesday signed an investment deal with China’s Shandong Xinhai Technology Co. Ltd and a unit of China Baowu Steel Group Corp. Ltd to develop a processing plant on Sulawesi island.

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