Reuters Africa reports a company chaired by Australian iron ore magnate Andrew "Twiggy" Forrest wants to reopen a nickel mine in Western Australia shut more than 15 years ago. A successful restart of the Mount Windarra mine by Poseidon Nickel Co , would mark Forrest's return to nickel mining after quitting the board of Anaconda Nickel in 2002 and founding Fortescue Metals Group , Australia's third-largest iron ore company.
Nickel Mining News
First Quantum Minerals on Tuesday said production of 265,000 tonnes of copper and 175,000 ounces of gold is forecast for 2011 reflecting lower production to date as well as lower expected sulphide ore grades in the short-term at Kansanshi and lower acid availability in Zambia. The company said its average cash cost is $1.35 per pound of copper and the revised forecast is a result of higher costs to date, lower production and higher input costs. Its Ravensthorpe nickel project in Australia is set for commercial operation before the end of the year.
Minmetals is not finished acquiring companies to add to its stable of base metal mines, according to Bloomberg. The state-run Chinese miner, with operations in Australia and Laos, a month ago snapped up Anvil Mining for $1.3 billion, thus expanding its reach into Africa. Anvil’s key asset is the Kinsevere mine, located in the Democratic Republic of Congo. Bloomberg reports the firm is planning more takeovers because it needs to extend the life of its mines and boost valuations. Minmetals' stock is undervalued compared to other comparable raw materials producers and consummating more deals would help raise its valuation, says the story, quoting a manager at First Asset Investment Management Inc.:
Anglo American (LON:AAL) has discovered what could be Europe's largest nickel deposit in a bog in Finnish Lapland. Helsingin Sanomat reports exploration drilling by the British-American mining giant has found samples of ore containing 4% nickel in the Viiankiaapa mire area north of Sodankylä. That compares to 0.4% nickel in the nearby Kevitsa deposit being developed by First Quantum Minerals (TSE:FM), which has spent about 300 million euros constructing a new copper-nickel mine. The news site says Anglo American plans to double the number of drill holes to chart the width and depth of the deposit. The ore body is believed to extend to the surface and measure one kilometre long by half a kilometre wide.
London-listed ENK has announced the first nickel production from its Acoje pilot plant located 250 km north of Manila in the Philippines. Approximately 50 kg (dry weight) of nickel hydroxide product (NHP) was released from the filter press on October 25.
Royal Nickel (TSE:RNX) plans to advance its Dumont Nickel project, which is estimated to generate $1.1 billion after tax NPV, after receiving a prositive pre-feasibility study. The company, which made the announcement on Tuesday, expects production to start in 2015. On Wednesday afternoon Royal Nickel's stock was down 1.27% to 78 cents a share. The company says there will be a staged development so it can lower cost and risk. Initial capital expenditure of $1.1 billion for 50 ktpd operation is planned.
Australian copper and zinc miner Kagara Ltd. (ASX:KZL) is selling its Lounge Lizard nickel mine. "Kagara and its adviser Goldman Sachs & Partners Australia have commenced discussions with potential purchasers of Kagara’s nickel assets. Kagara expects to finalise the sale process during the first quarter of 2012," Kagara said in a statement on Monday. Reuters reported that Kagara's mining partner, Western Areas, is not interested.
A new minimally-invasive procedure that can safely and effectively treat brain aneurysms without open surgery by implanting an FDA-approved device consisting of a flexible braided mesh tube made of platinum and nickel-cobalt chromium alloy directly into the artery has been chosen by research facility Cleveland Clinic as one of the top 10 medical innovations for 2012. The 90-year old multispecialty academic medical center which has pioneered among others coronary artery bypass surgery and performed the US's first face transplant also included a new Concussion Management System for Athletes, Genetically Modified Mosquitoes to Reduce Disease Threat and Wearable Robotic Devices in the top 10.
The company's board has approved a strategy that envisages investments to the tune of $35 billion between 2011 and 2025 to expand its resource base and raise output. The board of Russian miner Norilsk Nickel has approved a strategy that envisages
The long-running struggle between rival oligarchs Oleg Deripaska and Vladimir Potanin for control of Norilsk Nickel, Russia's biggest miner by market value, is a poor advertisement for Russian corporate governance. Mr Deripaska's aluminium grou...
Canada's number one coal producer and world-leading nickel miner, Sherritt jumped 10.2% on Wednesday after reporting a doubling of quarterly net earnings and good progress at its massive Ambatovy project in Madagascar. Sherritt will start production at Ambatovy in the first quarter of next year. The company has already spent more than 90% of the planned $5.5 billion to build what will be the world's biggest nickel mine with the capacity to produce 60,000 tonnes of nickel and 5,600 of cobalt a year. Sherritt and its Asian partners have made the largest investment in the island's history and will make nickel the country's number one export for the next 27 years.
Oct. 27 (Bloomberg) -- Nickel, the second-worst performing metal on the London Metals Exchange in the past six months, is set to rebound as Chinese steelmakers lead a recovery in demand. Nickel’s 20 percent slump this year has made it cheaper than pi...
Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to announce that it has engaged a syndicate of agents led by NCP Northland Capital Partners Inc. and including Stifel Nicolaus Canada Inc. and Secutor Capital Management Corporation (the "Agents") to complete a private placement financing, on a reasonable efforts basis, of units (the "Units") at a price of $0.21 per Unit and flow-through common shares (the "Flow-Through Shares") at a price of $0.23 per Flow-Through Share, in any combination, for aggregate gross proceeds of up to $7,000,000.
One of the Seven Great Wonders of the World is being threatened by mining. Reuters reports that legal and illegal mines operating below the Great Wall of China are tearing chunks of the wall away and allowing the historic landmark to crumble: About 200 km (124 miles) southwest of Beijing, in rural Laiyuan county in Hebei province, dozens of small mines are threatening the stability of the centuries-old wall as prospectors dig for copper, iron, molybdenum and nickel, state news agency Xinhua reported. Some mines have excavated within 100 meters of the wall.
Hard Creek Nickel Corporation – Updated Preliminary Economic Assessment models production of saleable concentrate
(VANCOUVER) - Hard Creek Nickel Corporation (TSX - HNC) is pleased to release the results of a new Preliminary Economic Assessment (PEA) of its wholly owned Turnagain Nickel Project in Northwestern British Columbia. Please click on the following link
Kennecott Eagle Minerals, a wholly owned unit of Rio Tinto, has awarded Veolia Water Solutions & Technologies a contract for the wastewater treatment plant at its Eagle mine located in Michigan's Upper Peninsula. Kennecott's Eagle Mine will be the only primary nickel mine operating in the USA and is expected to produce some 300 Mlb of nickel and 250 Mlb of copper over the life of the mine.
Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce that it has retained the services of Wardrop, A Tetra Tech Company ("Tetra Tech") and AMEC, two large multi-disciplinary engineering companies to complete the required studies for the development of its Broken Hammer deposit in Sudbury, Ontario. Tetra Tech will complete the Pre-Feasibility study ("PFS") and the subsequent Feasibility Study ("FS"). AMEC will complete the Environmental and permitting requirements. "The successful delivery of the bulk sample and its expected results have brought this project to the next phases of development namely Pre-Feasibility, Feasibility, and permitting."
Quadra FNX Mining Ltd. ("Quadra FNX" or the "Company") (TSX:QUX) announces that consolidated payable production for the three months ended September 30 increased 9% compared to Q2 2011 and 30% compared to Q1 2011 and totaled 60 million pounds of copper, 26 thousand ounces of total precious metals ("TPMs") and 3 million pounds of nickel. Paul Blythe, President & CEO comments; "This is our strongest quarter since 2009, driven by Robinson and continuing strong performance from our Sudbury operations. We are seeing continuing and significant improvements in production at Robinson. The various measures that we have taken are delivering increased flexibility and productivity.
Talvivarra Mining (LON:TALV) got massacred on the markets today on news that its CEO, Pekka Perä, has resigned. The London-listed Finnish base metal miner shed 55.83 pence to close at 198.66p — a 21.67% drop. It is clear that investors saw the departure of Perä — the driving force behind the company and its largest shareholder, owning 23% of the stock — as a major negative, says an analyst quoted in The Daily Telegraph:
Reuters reports that Albania is inviting bids for 151 mining licences this year, with 20 of them to be allocated through weekly competitions.
Reuters reports Zambia has lifted a ban on metal exports just two days after imposing it to sort out revenue collection and increase transparency in Africa's top copper producer, a minerals ministry official said on Thursday. It's good news for the Zambian mining sector – a lengthy suspension could have further pressured mines already dealing with volatile metal prices in recent weeks. Newly elected President Michael Sata has been concerned – analysts say with good reason – about copper exporters misreporting the amount of ore leaving Zambia, and earlier this week suspended export permits, to put new guidelines in place. Cobalt, gold and nickel also fell under the ban and now all export payments need to be routed via the central bank.
Asian stocks rebounded strongly Thursday after positive U.S. data provided some relief to investors gripped by the recent turbulence in markets, with regional commodities and oil plays surging.
Canada's North American Palladium said it plans to expand its flagship mine in Northern Ontario at a cost of around $75 million for the first phase of the project. Phase 1 of the Lac des Iles expansion should be completed in the fourth quarter of next year when the shaft will begin operating at a rate of 3,500 tonnes per day. The mine is located northwest of the city of Thunder Bay, and its primary deposits are palladium with some platinum, gold, nickel, and copper by-products. The company, which also operates two gold mines in Quebec, received a bump at the opening of trade in New York with the stock up 3.3% in a softer broader market.
Commodity prices may advance 20 percent over the next year as growth in emerging markets offsets the impact of the sovereign-debt crisis in Europe and a slowdown in developed economies, according to Goldman Sachs Group Inc.
Liberty Mines of Toronto plans to restart production at its Timmins operations in Q1 2012. Mining and milling was suspended in February 2011 due to maintenance and tailings pond issues.