Nickel Mining News

Industrial metals surge to near two-month highs

Industrial metals surged nearly 3 percent to end at its priciest in nearly two months Wednesday, as repressed buyers flooded the market after a Greek parliament vote to accept austerity measures bolstered risk appetite.

BHP Australia refinery resumes nickel production

BHP Billiton said on Wednesday that production at its Kwinana nickel refinery in Western Australia had restarted as planned in early June. "In line with our previous guidance, production at Kwinana resumed in early June," a spokesman told Reuters.

Right time to get into commodities, says Barclays Capital

The world seems set to enter a period of slower growth and higher inflation and investors would do well to gain some direct exposure to commodity markets, said Barclays Capital MD Kevin Norrish on Wednesday.

Invest in commodities rather than producers

Investing directly in commodities through indexes gives an investor more direct exposure to commodity prices than investing in the producers, whose returns were more aligned with equities.

Proto Resources: Government grants mining lease for new Tasmanian project

The Directors of Proto Resources & Investments Ltd are pleased to announce that the Tasmanian Government has granted Mining Lease ("ML") 1872P/M over the area of the company's Barnes Hill project near Beaconsfield.

Nickel prices continue to slide

Nickel is projected to be in a surplus over the next year and a half, as weak stainless steel demand has caused cuts in production. There are supporting factors as the market heads for its bottom.

BIV: Quadra FNX agrees to wage increases in Sudbury

Vancouver-based Quadra FNX announced a three-year collective agreement with United Steelworkers that includes a 3% wage increase, BIV reports: “This agreement breaks a pattern in the mining industry of attempts by employers to impose concessions on their workers,” said Wess Dowsett, Steelworkers area coordinator for Northeastern Ontario.

Is nickel a bellwether for copper?

Is this year’s worst-performing LME metal a canary in the coal mine for copper? And is there any hope in sight for nickel prices? Tolstoy once wrote, “Happy families are all alike; every unhappy family is unhappy in its own way.”

Does nickel price fall foreshadow copper price performance?

Is this year's worst-performing LME metal a canary in the coal mine for copper? And is there any hope in sight for nickel prices? New York (Hard Assets Investor)

CMJ: CaNickel revives Bucko Lake

Canadian Mining Journal reports: Crowflight Minerals of Vancouver has received all the necessary approvals and will begin trading under its new name, CaNickel Mining Limited, on June 23, 2011. The company has also moved its business to British Columbia from Ontario. CMJ reports that since Crowflight restarted nickel mining at Bucko Lake near Wabowden, Manitoba, the mine has shipped 85 tonnes of nickel concentrate to Xstrata's smelter in Sudbury, ON. The mill is currently processing 600 tonnes per day. Image of the Bucko Lake mill, by Crowflight Minerals Inc.

Pitchstone finalizes summer Athabasca drilling plans

Pitchstone Exploration Ltd. ("Pitchstone") has finalized plans for summer exploration activities in the eastern Athabasca Basin, Saskatchewan. Work will include 2,250 meters of diamond drilling at Gumboot and Johnston Lake, plus 2,000 meters of diamond drilling at Wolverine. Additionally, Pitchstone has recently staked three new claims in the eastern Athabasca Basin.

First Point Announces Cliffs to Assume Management of 2011 Exploration Program on the Decar Nickel-Iron Alloy Project

First Point Minerals Corp. (TSX VENTURE:FPX) ("First Point" or the "Company") is pleased to announce that Cliffs Natural Resources Exploration Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) ("Cliffs"), has assumed management of, and is starting the 2011 exploration program on the Decar nickel project in central British Columbia. Cliffs has hired Caracle Creek International Consulting (CCIC), a professional geological, geophysical and engineering services consulting company, to supervise the 2011 exploration program at Decar.

Demand destruction looms to hit gold and base metals in H2 2011

After an unrivalled rally, commodity prices are likely to soften during the second half of the year, according to Bank of America Merrill Lynch. At a seminar in London on Wednesday, commodity strategist Francisco Blanch said commodity prices will come off during the latter part of the year as demand destruction looms on the horizon.

Glencore shares dip on results, bid denial

Commodities trader Glencore (GLEN.L: Quote) is not considering a bid for embattled miner ENRC, its chief executive said, dismissing reports of a takeover after it disappointed the market with its maiden frst-quarter results. Shares in the world's largest diversified commodity trader dropped 2 percent as weaker-than-expected results from its metals and mining trading unit held back its operating profit.

Nickel heading for major oversupply and prices could dive – Analysts

At a time of scarcity in everything from crude oil to copper to corn, nickel is heading for the biggest glut in four years, driving prices lower into 2012. Next year's surplus will rise to 60,000 metric tons from 12,000 tons in 2011, making nickel the most oversupplied metal relative to output or use, according to Bank of America Merrill Lynch, the most-accurate forecaster tracked by Bloomberg over two years.

Chinese power issues could affect aluminum, steel, nickel pig iron out…

Tightness in the Chinese power market could mean lower output of aluminum and nickel pig-iron, plus deceleration in steel production and a probable increase in thermal-coal imports, says Deutsche Bank. More than 10 provinces started […]

The Ultimate Guide to Nickel Investing – Seeking Alpha

Nickel is one of the oldest known metals, with uses tracing back more than 5,000 years. Historically, nickel has been often confused with silver thanks to its physical appearance. The metal, first classified as a […]

Commodity prices should snap higher in H2, dollar unlikely to recover until 2012 – Morgan Stanley

Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies.

Two miners killed at Canadian nickel operation

Two workers died after they were hit by waste debris being removed from Brazilian miner Vale's (VALE5.SA) Stobie underground copper-nickel mine in Sudbury, Ontario, officials said on Thursday. The employees were working in a shaft about 1,000 metres below the surface on Wednesday evening when the accident occurred, and were dead when rescuers reached the scene, the company said.

Anfield Nickel closes in on 100-million-tonne target

To show-off its size in a nickel belt with the likes of Hudbay Minerals as a neighbour, Anfield Nickel (TSX-V: ANF) set 100 million as a key tonnage threshold to cross at its Mayaniquel nickel project in Guatemala. In its latest resource update, Anfield clawed ever closer to the self-imposed target, important perhaps psychologically more than anything.

Proto Resources & Investments announces a new development project in Germany

Proto Resources & Investments Ltd (“Proto”, “the Company”) has acquired rights over a nickelcobalt development project located in Saxony, Germany. The Kiefernberg project area is within the Granitulite Mountains licence that Proto has entered into […]

The charges against big nickel

In 1946, in New York City, the Anti-Trust Division of the Department of Justice filed a complaint against Inco and its wholly owned U.S. subsidiary, International Nickel Co. Inc. Canada's Inco, at the time, owned 90% of the world's nickel ore and supplied 90% of U.S. nickel needs.

South Africa mining output rebounds strongly, possible industrial action looms

South African mining output rebounded strongly in April, rising by 12.4% year-on-year, after contracting 1.4% in the previous month, a report by Statistics South Africa showed on Thursday. Year-to-date production increased by 5.2%, on the back of surging output of nickel, manganese, platinum group metals and copper but gold production continued to lag, only managing a 1.5% increase. Analysts warned that the outlook for the rest of year was clouded by scheduled wage negotiations across the industry that could lead to strikes and a strong currency which hampers competitiveness.

Commodity prices should snap higher in H2, dollar unlikely to recover until 2012 – Morgan Stanley

Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies. He argues that it was perhaps inevitable that […]

Western Areas NL: 100,000 tonnes nickel concentrate exported from Esperance

The Board of Western Areas (TSX:WSA)(ASX:WSA) is pleased to announce an important milestone for the company. Since the first shipment ten months ago, Western Areas has exported over 100,000 tonnes of high grade nickel concentrate from Esperance Port to Jinchuan in China. This represents a gross value of over US$300 million based on average nickel prices since shipping commenced.