Thunder Bay-based Zenyatta Ventures has ended its dispute with Constance Lake First Nation after the leadership of the 1,470-strong community decided to no longer pursue a motion of injunction against the junior explorer in exchange for better co-operation and preferential job opportunities. Zenyatta can now advance its Albany project south of the so-called Ring of Fire in the James Bay lowlands where it is exploring for nickel and platinum group metals with a purported value in excess of $1 billion.
Nickel Mining News
Strong metal and oil stocks lift the TSX Composite Index Tuesday as the loonie rallies on expectations of eventual rate hike.
Commodities don’t all perform in the same way. In any given year, a particular commodity will go gangbusters and outperform the group.
Special Metals Corp. announced this weekend that it will relocate operations from Rockford, Ill., to Elkhart, Ind., creating up to 100 new jobs by 2014. The inventor and producer of high-nickel, high-performance engineering alloys will move its A-1
The London Metal Exchange (LME) will double the amount of metal required to be delivered from the biggest stockpiles to ease a backlog in Detroit, home to a quarter of global stockpiles. The so-called load-out rate will be increased to a daily minimum of 3,000 metric tons for a warehouse company storing more than 900,000 tons at a single location in April. The new rules may help to remove aluminum faster from warehouses holding the biggest stockpiles. Withdrawing metal from warehouses in Detroit, the only location with stockpiles above 900,000 tons, can take as long as seven months.
Norilsk Nickel, world number one nickel and palladium producer and Russia's biggest miner, announced on Friday it is restarting operations at its Maggie Hays mine near Lake Johnston in West Australia. Norilsk mothballed Maggie Hays bought from BHP and the other Australian operations it acquired in 2007 two years later as the financial crisis cut demand. Stainless steel production accounts for around two-thirds of nickel consumption.
Business Standard reports that tin and nickel saw a sudden jump in prices today in India after steady trading in London.
Falls among commodity issues sapped the strength of Britain’s top share index yesterday, as worries over global growth clouded the demand outlook for metals and oils. At the close, the FTSE 100 index was down 59.48 points.
Nickel prices rebounded from a sharp fall in June, but slow demand and concerns about an impending sharp rise in output will exert downward presure, or at least limit upside prospects in the next month or two. The London Metal Exchange three-months nickel price was last indicated at $23,920 a tonne. "We've got a situation of rising production and slowing stainless demand growth," said independent consultant Angus MacMillan. Against this backdrop, he said prices were more likely to move lower than higher.
The prospect of mining the ocean floor may seem far-fetched, but China, motivated by its insatiable hunger for resources, has opened its eyes to the idea. According to a story in The Japan Times, China will attempt to plunge the Jialong - the world's deepest-diving manned submersible - 5,000 metres below the surface of the Pacific Ocean between Hawaii and North America, exceeding the craft's previous depth of 3,759 metres.
Fletcher Nickel Inc. President Frank Smeenk, Suite 1000, 141 Adelaide Street West, Toronto, Ontario exercised a total of 1.4 million warrants, expiring July 13, 2011, to acquire Fletcher Nickel Inc. (the "Company") common shares from treasury at $0.06 each (the "Transaction").
Pure Nickel Inc. (TSE:NIC,OTC:PNCKF) reports it has reached an agreement with Skye Mineral Partners, LLC regarding a copper project in Utah.
Australia's no. 2 nickel miner Minara Resources , which is resuming full production runs following repair work at its Murrin Murrin ore processing plant, trimmed its full-year production guidance on Wednesday. Minara, 71 percent-owned by commodities trader Glencore International , cut its guidance to 29,000-32,000 tonnes of nickel in 2011 from between 33,000 and 37,000 tonnes.
Reuters reports that nickel went untraded today, but still managed to fall as copper, aluminum and zinc also fell.
Carpentaria Exploration Limited today announces a plus A$3.5 million budget for greenfields exploration in the 2011/12 financial year, continuing its aggressive exploration programs across eastern Australia
LME non-ferrous trading climbs 16 per cent in H1, 2011 Read more : non-ferrous metals,ferrous metals,lme,commodity derivatives LONDON (Commodity Online): Non-ferrous trading registered a growth of 16% in volumes at London Metal Exchange (LME) t with 68.6
Shares in Anfield Nickel's jumped more than 4% to within striking distance of a year-high on Friday after the company released the results of its economic assessment of the Mayaniquel project in Guatemala. Anfield said the project may generate approximately 700 permanent jobs and 800 direct jobs during the three year construction period and potentially $1.8 billion in taxes and government royalties payable to the Guatemalan government.
A mine rescue agency said that Zambian mines are well equipped and can react to any eventualities. In an apparent reaction to the recent development at Zambia’s sole nickel producer, Albidon mining where a sink hold affected production at the mine for another three weeks.
First Point Minerals Corporation announced positive metallurgical results from test work completed by Cliffs Natural Resources Exploration Inc an affiliate of Cliffs Natural Resources Inc CLF +1.35% FR:CLF +6.43% for the Decar nickel project in central
Reportedly, Burundi, the Central African nation has planned to start nickel production next year after first discovering this stainless steel making ingredient more than 35 years ago. Because of lacking fundamental infrastructure, the country?s nickel
Reuters Africa reported that the Jinchuan Group’s (FRA:GDZD) bid for Metorex (JNB:MEMTX) is higher than Vale’s (NYSE:VALE) offer. The market news is quoted as saying: Jinchuan, China’s dominant nickel producer, added almost 22 percent to Vale’s offer, making 8.90 rand per share for a cash bid at current exchange rates of around $1.32 billion.
Proto Resources & Investments has received a mining lease from the Tasmanian Government for the firm's Barnes Hill project near Beaconsfield, Tasmania, for an initial period of 15 years.
Canadian base metal and coal miners were the nation's economic bright spot in April, according to report from Statistics Canada released on Thursday. The study, which looked at gross domestic product by industry, found that mining grew strongly while the rest of the economy was mostly flat.
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 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.