Nickel Top Stories

Indonesia’s state miner agrees on price scheme to acquire Vale unit

Mining Industry Indonesia will use the average stock price for…

Battery nickel price regains premium over metal

Nickel sulphate is back to trading at a premium to…

Latest Stories

Try keeping a poker face while bidding on this $150,000 diamond and meteorite slice gambling set

One of the more unique lots at Christie's Magnificent Jewels auction on November 29 in Hong Kong is likely to be a set of poker chips made by the Swedish artist and jeweller Kristian Ståhl. The 120 chips are made of 18K white gold and are set with a total of 5,160 calibrated top-quality diamonds, rubies and sapphires. But what makes the set truly unique is that each chip was sliced from the 1 million year old Muonionalusta meteorite that contains iron, nickel and rare earths. The set is estimated at $100,000 – $150,000 and Stahl said he was inspired to create it after his Siberian mammoth ivory dice sold well at auction last year.

World’s lightest material is made out of nickel

Scientists have succeeded in making the world's lightest material, so light it can float on top of dandeloin fluff, and they made it out of nickel. The metal used matters less than the structure. The material, developed by researchers at HRL Laboratories, LLC, is made out of micro-lattices that maximize strength in relation to the amount of material used. The structure is actually 99.99% air. Nickel was used by the researchers since it was the easiest material to work with.

Great Lakes Nickel signs option agreement with Rio Tinto

TORONTO, Nov. 18, 2011 /CNW/ - Great Lakes Nickel Limited ("GLN" or the Corporation") is pleased to announce that it signed an agreement today with Rio Tinto Exploration Canada Inc. ("RTEC") regarding an option by RTEC to acquire a 100% undivided interest in certain mining properties located in Pardee Township, Ontario (the "Pardee Property"). The basic terms of the agreement are that RTEC may exercise the option upon paying $5,500,000 to the Corporation over the course of seven (7) years, at which time it will grant the Corporation a 2% net smelter returns royalty.


Nickel surplus likely to jump, says top Japanese producer

Japan's top nickel producer, Sumitomo Metal Mining Co., is predicting a glut in the supply of the metal. Bloomberg reports a global nickel surplus may soar in 2012 to the highest in four years as Europe’s debt crisis and a sluggish U.S. economy cuts demand: Supply will likely exceed demand by 54,000 metric tons in 2012, the biggest surplus since 2008, said Toru Higo, Sumitomo Metal Mining Co.’s general manager of nickel sales and raw materials. Demand outstripped supply by 63,000 tons last year, the first deficit since 2006, before moving to a surplus of 11,000 tons this year, Higo said.

Hungry for more acquisitions, Minmetals turns to nickel

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 discovers huge nickel deposit in protected Finnish bog

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.

Royal Nickel planning to build $1.1 billion nickel mine

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.

Australia’s Kagara gives Lounge Lizard nickel mine the heave-ho

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.