The company plans to increase capital expenditure to an average of $2.3 billion to $2.5 billion a year in 2019 and 2020 from about $2 billion in 2018.
Nickel Mining News
Brazil's Vale SA denied that it had decided to postpone the sale of a stake in the New Caledonia nickel mine, saying it is continuing to look for a partner.
COO Sergey Dyachenko told Reuters ahead of a strategy update to investors that the cost cuts were part of a comprehensive cost reduction programme.
The miner denied it had decided to suspend the sale of a stake in its loss-making New Caledonia nickel mine (VNC), and added that its plan to find a partner is still a go.
President Rodrigo Duterte's decision not only ignores demands from pro-mining groups but also from members of his own government, including the current environment minister Roy Cimatu.
Ontario is number one.
The sale may be delayed for up to a year, a setback to efforts by the world’s largest iron ore producer to offload non-core assets.
“We have a strong sense of urgency,” chief executive Andrew Mackenzie told reporters following the company’s annual general meeting in Melbourne.
The Swiss commodity giant is reportedly finalizing a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty vehicle.
Under the terms of the collective agreement, employees do not get paid when work is not available.
The Arkyd-6 spacecraft includes core technology that will be used in the company’s asteroid exploration program.
The mining veteran could face competition from internal candidates, including former head of UK gas company Centrica, Sam Laidlaw, who now sits on Rio’s board.
Trafigura Group provides $200m in funding to Finland's Terrafame nickel mine, which plans to start producing material for electric vehicle batteries by 2020.
Global deficit in nickel supply to drop 53,000 tonnes in 2018 from 98,000 tonnes this year, partly due to recovery in Chinese production growth.
This year, copper was shoved out of the London limelight by new hot metals such as lithium, cobalt and nickel.
BHP CCO Balhuizen says while 2017 marks "tipping point" for EVs entering mainstream of metals demand forecasting, in terms of sales mass move is further off.
Mike Beck gives a provides a detailed analysis on lithium, uranium, and nickel.
World's biggest miner is getting ready to provide enough copper for the 140 million electric cars forecast by 2035.
Commodity markets are being turned upside down by the EV revolution.
Battery boom promises new and growing market for high-grade nickel products, but half the world's supply of the metal is unsuitable for battery production.
Russia's Norilsk Nickel, the world's second-largest nickel and top palladium producer, reaffirmed its previous 2017 output forecast on Monday after a strong third quarter.
Prices for cobalt metal, used in production of electric vehicle batteries, have tripled to nine-year peaks above $30 a pound from below $10 a pound in late 2015.
"Barrick must be stopped!", a junior miner wrote.
While an estimated 61 larger miners will pay more, about 30,000 smaller miners seen as larger job creators will pay less.
Mines minister says will follow new recommendations of environment regulator reviving projects like giant Tampakan, Silangan copper-gold mines.