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.
Nickel Mining News
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%.
Financial markets — including commodities — surged after details from the highly-anticipated EU Summit were released. Germany's demand that private investors be a part of any Greek bailout, which will likely be considered a partial default by ratings agencies, seems to have been met.
Industrial metals touched its priciest levels in more than three months on Tuesday as upbeat demand prospects in two of the world's biggest consumers helped to keep a surprisingly strong summer rally intact.
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.
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.