Mining at the project in the Pacific nation will start in December, with ore shipments expected to begin in the first quarter of next year.
Nickel Mining News
The East African nation seeks to reassure potential investors that it isn’t involved in “conflict minerals.”
No gas or balloons needed.
Several global metals producers have also set their sights on Indonesia's nickel reserves, looking to tap an expected surge in demand for the battery metal.
Agreements give a majority stake in the giant Grasberg copper and gold mine to a local state-owned firm, becoming the country’s biggest divestment by a foreign resources company.
Two major shareholders of Brazilian mining company Vale SA are likely to reach an agreement on Wednesday to pay 2.82 billion reais ($692 million) to Eletron to settle a dispute over Vale shares.
Down 18% in H1.
BHP Billiton said on Monday its Kalgoorlie nickel smelter has been closed after a fire that broke out over the weekend and the plant will remain shut while it assesses the damage.
Deal will see China’s No.1 producer of lithium supplying 20 percent of its production to the electric cars maker.
But the court upheld part of the previous ruling requiring the miner to re-apply for its environmental licensing and start a community consultation process.
Until now, the Australian miner had been advancing exploration projects in Latin America focused mainly on gold, but with significant exposure to copper, molybdenum and zinc.
Vale on top.
Nickel has finally succumbed to the base metals price rout.
Indonesia has laid out new rules for commodities exporters to guarantee funding for shipments through Indonesian banks or branches of foreign banks in the country.
The U.S.-led trade war fans concern that the showdown will derail otherwise-strong economic growth in the world’s two largest economies.
Altius entered into an agreement with Vale Canada Limited and certain of its subsidiaries to comprehensively settle their long-standing litigation.
SMM said that it and nickel miner PT Vale Indonesia are conducting a feasibility study to build a nickel processing project in Pomalaa, Southeast Sulawesi.
Top four mines are all located in the Democratic Republic of the Congo.
The focus on lithium-ion batteries seems to reflect supply and demand of lithium and cobalt but it would be very wrong not to include nickel.
A unit of the company, Black Mountain Metals LLP, will buy the Lanfranchi nickel project in the state of Western Australia for $15.1 million from Panoramic Resources.
Nickel, which recently hit its lowest since December, could climb as high as $16,000 a tonne by the end of 2018 and $18,000 a year later.
The original sale of the stake was disputed in a London court by aluminium producer Rusal, which owns a stake in Nornickel.
More than 9,000 ounces, or $10 million worth of gold, were recovered in a four-day period.