Businessweek quotes a confidential report prepared for South Africa's mining CEOs as saying South Africa’s ruling party is closer to some form of nationalization than at any other time since the end of apartheid. A government takeover of mines could choke investments in a country with metal and mineral reserves estimated at 2.5 trillion and lead to a collapse of the currency, the rand. Firebrand Julius Malema (pictured), the leader of the youth wing of the ruling African National Congress which often acts as kingmaker in the country’s politics, is spearheading the campaign to seize mines, farms and banks. Malema is never far from headlines in the country with racially charged comments but now an anti-corruption police unit is probing a trust fund owned by him allegedly being used to funnel payments in exchange for securing government tenders.
Nickel Mining News
Contractor VDM Group has signed a $40 million contract with BHP Billiton at its Kambalda nickel operations.VDM's Perth-based subsidiary Cape Crushing and Earthmoving Contractors will handle the five years of work at the Kambalda Nickel Concentrator.The
Finnish mineral processing company Outotec more than doubled its profits for the first half of 2011.
European Nickel (LON:ENK) remains well funded with cash of US$7.54 million, its latest quarterly update reveals. This compares with US$10.91 million at the start of period, though the company’s direct shipments from its Acoje project in the Philippines.
Commodity Online reported that Mirabela Nickel Limited has sold 3909 tonnes of nickel in Q2 2011, up by 88% QoQ. Production at its Brazilian mine boosted by 20% to 3395 tonnes. However, cash costs also rose by 13% to USD 7.85 from USD 6.97 during the
Bloomberg reports nickel surplus may narrow on increasing stainless-steel demand from China and stalled mining projects have lowered prices.
Post by Krista Smith, Nickel Researcher Reuters Africa reports Norilsk Nickel (LON:MNOD) sold 136,400 tonnes of nickel in the first half of the year at an average price of $25,923 per tonne. The market news is quoted as saying, Sprogis said investor
Anglo American, one of the world's largest miners, today reported strong first half growth with operating profit ahead 40% to $6bn. Chief Executive Cynthia Carroll said that investments made during the downturn would stand them in good stead in the near-term future. "We believe that the fundamentals for the mining industry are very, very strong, and therefore the longer-term outlook is extremely positive." Image by shizhao
Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) has signed a binding Letter of Intent with Otterburn Ventures Inc. (CSNX:OTB). The LOI gives Otterburn the option to earn up to an 80% interest in Nortec's Läntinen Koillismaa project, a 100% owned palladium-platinum–gold–copper-nickel property in north central Finland.
First Point Minerals is making rapid headway in Canada with its work on naturally occurring nickel-iron alloys
What, pray, is a nickel-iron alloy ore? That’s a question that holds no mystery to the management and shareholders of First Point Minerals, which has just identified its first drill-ready nickel-iron alloy target on the Klow project in central British Columbia.
Gerard H. Brimo is the speaker for the next Philippine Mining Luncheon on August 5. 2011. His topic is a Rebuttal to the Save Palawan Movement that is calling on Filipinos to support the 'No to Mining in Palawan'. Brimo is President and CEO of Nickel Asia Corp (NAC) and a member of the Audit Committee of the board.
Australia's Highlands Pacific and China Metallurgical Group can now power on their $1.5 billion Ramu nickel project in Papua New Guinea after a judge threw out the environmental challenge to the project's planned deep-sea disposal of tailings after an 18-month legal battle. Ramu is situated on Papua New Guinea's north-west coast and is completely built – annual production is estimated at more than 31,000 tonnes of nickel and 3,300 tonnes of cobalt for over 20 years.
Bloomberg reports nickel is the only base metal traded on the LME to record a decline in its inventories this year. Refined nickel usage exceeded output by 24,000 metric tons in the first half, according to estimates by Barclays Capital.
First Point Minerals Corp. has outlined a drill target on the Klow property based on exploration field work on its nickel-iron alloy project.
With the metal production in surplus, Western industrial growth seemingly stalled and Chinese demand slack prospects for the nickel price are seen as precarious
At the once-feared commodity trading arms of Goldman Sachs and Morgan Stanley, the pressure to do better in the second half of this year has never been more intense.
A new cost-effective way to process nickel laterites known as the DNi Process will be thoroughly examined by a test plant currently being built in Western Australia.
Victory Nickel Inc. CA:NI today announced further results from drilling conducted on the North Limb nickel-mineralized domain at its 100% owned Minago Nickel Project located on the Thompson Nickel Belt approximately 485 kilometres north of Winnipeg, Manitoba.
First Nickel Inc. (TSX:FNI) has finalized copper and nickel hedging contracts with two international banks that will help the miner begin operations again in northern Ontario, the Winnipeg Free Press reported:
Vancouver-based Quadra FNX Mining increased second-quarter copper production by 20% compared with the first three months of the year, and still expects to meet its full-year forecast of within 10% of 240-million pounds.
RIA Novosti reports that Norilsk Nickel has sold 8.06 percent of its shares to two offshore companies, Delmonico Group and Crelios Investment, for over $2.77 billion, the company said in documents obtained by RIA Novosti on Monday.
AusNiCo has intersected 181 meters at 0.25% nickel from drilling at the Pembroke prospect, supporting extensions to its large low grade nickel sulphide mineralized system.
Manila Bulletin reported that the mining industry has urged government to encourage processing of mineral ore into high value added products by granting incentives but they opposed a plan to prohibit direct shipping of ore for exports.
Nautilus Minerals' (TSX:NUS)(AIM:NUS) Tongan subsidiary, Tonga Offshore Mining Ltd. ("TOML"), has become one of the first private sector organizations to be granted exploration licences in the highly prospective Clarion Clipperton Zone ("CCZ") of the Eastern Pacific. As a result of exploration conducted in the 1980s, the CCZ is known to host significant deposits of polymetallic nodules, which are golf ball sized nuggets, rich in copper, nickel, manganese and cobalt, lying on the seafloor in water depths starting at 4500 metres.
According to a new report by Business Monitor International Russia's mining sector is set to grow slowly over the forecast period to 2015, marking a reversal of the declining output seen since 2006. Business Monitor forecasts the value of the mining sector to reach US$259bn in 2015 from US$134bn in 2010, marking an annual average growth rate of 2.6%.