Canadian developers of cobalt and lithium mines stand to benefit from a round of investments from the makers of EVs and the batteries powering them.
Nickel Mining News
The future of New Caledonia mine is considered a key test for CEO Schvartsman, who pledged to improve shareholder returns.
The company also said is ready to shut Caledonia mine mid-next year if it has not found a strategic partner ready to buy a 20 to 40% stake in the project.
Brazil's Vale is prepared to unleash as much as 50 million metric tons of spare capacity to balance the market if prices get too high.
The Brazilian miner revealed these expectations in a presentation to investors in New York on Wednesday.
BaseCore Metals will be independently operated and have its own board of directors.
After pumping billions into the Indonesian mine for almost 25 years, Rio might be able to see a decent return as the country’s government plans to acquire the miner’s 40% stake in the coveted operation.
After a nine-month search, the miner has picked the current leader of the remuneration committee, Simon Thompson, to assume the post in March 2018.
Cobalt is rarely found in high concentrations and is mostly produced as a byproduct of copper and nickel.
Surging demand for metals like copper, and cobalt for use in EVs promises to overturn balance of power between mining companies and their customers.
The five-year cooperation agreement covers the exchange of information and expertise on the exploration and mining of out-of-earth resources.
Decision comes in the wake of a full-scale investor revolt led by the Investor Forum, a London-based body representing some of the world’s biggest money managers.
Clive Palmer says he will look to use the proceeds from his $US150 million ($197.4m) legal victory over Chinese corporate giant Citic to reopen his shuttered Townsville nickel refinery in north Queensland.
Legal proceedings were held last week in Toronto related to a case against a Canadian mining company that formerly was operating through a subsidiary in Guatemala.
Precious, base and energy metals are all benefiting from the commodity supercycle, says Louis James, editor of International Speculator
Slowing demand from China's stainless steel mills and rising supplies have halted a frenzied price rally and are likely to keep weighing on prices.
Miner has one of biggest deficit outlooks on back of steel use; firm doesn’t expect material EV impact on nickel until 2020.
Mike Beck discusses the electric vehicle market, battery metal company investments, and battery metal supplies in interview with Palisade Radio.
PT Aneka Tambang Tbk (Antam) is targeting 11 million tonnes in nickel ore sales next year, a jump from an estimated 4.2 million tonnes this year.
Overall commodity returns have been lackluster this year, and face more poor performance in 2018, according to JPMorgan Chase & Co.
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.
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.