The global nickel markets have witnessed significant shifts, largely due to Indonesia’s assertive entry, offering cheaper supplies and thereby reshaping the competitive landscape. Notably, the price of nickel plummeted by more than 40% over two years, illustrating the impact of Indonesia’s aggressive market strategy. Despite this, there’s a consensus among experts that Russia, with its superior quality nickel and coal,...
Base Metals
Marubeni Corporation Secures $2.5 Billion for Sentinella Copper Mine Expansion
Marubeni Corporation has successfully negotiated a loan agreement amounting to $2.5 billion, or approximately 370 billion yen, with eight financial institutions spanning Japan, Canada, South Korea, Germany, and other countries. This funding is earmarked for the expansion of the Centinela copper mine in Chile, a venture Marubeni co-owns with the British firm Antofagasta. The expansion, decided upon last December, is...
Indonesia Sets Ambitious Production Quotas for Nickel and Other Metals
Indonesia has taken a significant step in the mining sector by issuing production quotas totaling 152.62 million metric tons for nickel ore and 44,481.63 tons for tin ore within the current year, as stated by a senior official from the mining ministry during a parliamentary session on Tuesday. This move is part of the government’s broader initiative to regulate and...
Glencore Reopens Zinc Smelter in Nordenham Amid Fluctuating Zinc Prices
Glencore has resumed operations at its Nordenham zinc smelter in Germany. The facility, which ceased operations in November 2022 due to surging electricity costs across Europe, is now back in action as of the end of 2023. This move comes amid fluctuating zinc prices on the London Metal Exchange (LME), which saw a drop to their lowest in seven months...
Vale Indonesia Explores New $2 Billion Nickel Processing Plant
In a recent announcement from Jakarta, PT Vale Indonesia is set to potentially invest in a new high-pressure acid leaching (HPAL) plant located on Sulawesi island. The project, which carries an estimated cost of 30 trillion rupiah (approximately $1.91 billion), aims to enhance the production of mixed hydroxide precipitate (MHP). MHP is a crucial component in the manufacturing of electric...
Boliden Announces Major Investments in Copper and Precious Metals Production
Boliden, a key player in the metals industry, has announced a significant investment of SEK 4.8 billion (approximately USD 460.8 million) in a new tank house at its Rönnskär site. This strategic move is set to boost the production of copper cathodes and precious metals, reaching full capacity by the latter half of 2026. Alongside this development, Boliden has also...
China’s Primary Aluminum Production Rises by 5.5% in Early 2024
China’s production of primary aluminum reached 7.1 million tons in the first two months of 2024, marking a 5.5% increase compared to the same period last year. This growth comes as producers in Yunnan province resume operations that were previously halted due to power restrictions. Industry experts predict that the resumed production could boost the province’s annual output by an...
Mineral Resources Announces Transformation of Nickel Plant into Lithium Hub
In a strategic move to bolster its lithium processing capabilities, Mineral Resources (MinRes) has confirmed a $15 million acquisition of a nickel concentrator plant, previously owned by Poseidon Nickel. The initiative marks a significant pivot towards repurposing the facility into a lithium processing hub located in the Goldfields region. Under the leadership of Chris Ellison, MinRes disclosed the agreement, emphasizing...
Copper Prices Rise on LME Amid Production Cuts in China; Gold Dips Slightly on COMEX
Copper futures experienced an uptick on the London Metal Exchange today, spurred by production reductions in China. According to recent reports, leading Chinese copper smelters have agreed to scale back operations at facilities that are not turning a profit. This decision comes in the wake of decreased processing fees and copper treatment charges. “With the anticipation that the base metal’s...
Chinese Investment Boosts Economic Growth in Southwest Papua with New Nickel Smelter and Steel Plant
The Southwest Papua Provincial Government has expressed strong support for a Chinese investor’s plan to establish a nickel smelter and steel plant in the Sorong Special Economic Zone (SEZ), heralding a significant boost for the region’s economic development. This initiative aims to optimize the potential of the Sorong SEZ, aligning with the central government’s objectives to foster economic growth in...