Nickel Top Stories

Sherritt offers 50% haircut for bonds in out-of-court recovery

Company is offering to buy back $443 million of its…

Lithium price: EVs will be $350bn market in just 15 years

Revenues for global energy storage market to grow at 15%…

Latest Stories

Russia’s mining sector reverses output declines

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%.

PGMs, nickel explorer ends dispute with Constance Lake First Nation

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.

LME will double metal deliveries to ease Detroit backlog

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.

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Norilsk restarts Australia nickel mine mothballed during recession

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.

Japan Times: China raises spectre of undersea mining with world’s deepest diving submersible

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.

Minara Resources trims full year guidance

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.

Anfield Nickel shares close to year-high after positive Guatemala project study

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.