Capstone Copper Corp. (TSX: CS) and Orion Mine Finance have entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and Scotia Capital Inc. under which the underwriters have agreed to purchase, on a bought deal basis from Orion, 50,000,000 common shares of Capstone at a price of $5.70 for gross proceeds to Orion of...
Queensland Pacific Metals Ltd (ASX:QPM) has struck a binding ore supply deal with New Caledonian company Société Minière Georges Montagnat (SMGM), one of the original supporters of QPM and the TECH Project. The companies have formalised the 10-year ore supply agreement for up to 200,000 wmt per annum, targeting a typical limonite ore specification of 1.5% nickel and 0.18% cobalt....
Nickel is one of the critical metals which plays an instrumental role in the energy transition and it’s likely that the electrification of transport will see nickel prices remain strong over the coming decades. The metal’s inclusion in the US critical minerals list, underpinned by the US Government’s Inflation Reduction Act, along with the recently announced Critical Raw Materials Act...
Gold miners have shed the exuberant skin they formed as failing banks sent investors rushing for safe havens early this week. That has been replaced by a nervous atmosphere, with nailbiting all round as gold producers wait to see where the US Fed heads with interest rates tonight. Prices fell over 2% overnight, with the London Bullion Marketing Association reporting...
Russian diversified metals producer Nornickel is rehauling its Taimyrsky mine, and the upcoming completion of the Bolshoi Gorst area project is set to increase its production capacity, the company announced. Nornickel launched the investment project targeting the Bolshoi Gorst area in 2009. The project was divided into five parts, and the final one is nearing completion. The cost of the...
Takeover target Mincor Resources has told its shareholders to wait for a better offer after mining billionaire Andrew Forrest lobbed a $760 million bid for one of Western Australia’s biggest nickel producers. Shares in the Perth-based Mincor shot up 41 per cent, or 43 cents, to $1.47 a share on Tuesday, well above the $1.40 a share offer put on...
Posco Future M will invest 392 billion won ($300 million) to build a high-nickel cathode plant in Pohang, to seize the opportunity that is the growing demand for the high-density battery. The facility in North Gyeongsang will produce 30,000 tons of high-nickel nickel-cobalt-aluminum (NCA) cathodes annually, which is enough to supply batteries for 300,000 EVs. The investment comes as the...
Copper yesterday settled up by 0.48% at 758.35 as worries over a global banking crisis eased, with copper further supported by improving consumption in China. Measures by authorities to avert a global banking crisis lifted market confidence as investors welcomed a historic Swiss-backed acquisition of troubled Credit Suisse (SIX:CSGN) by UBS Group and emergency dollar liquidity from top central banks....
The London Metal Exchange (LME) has discovered that some of its registered nickel is missing. Nine warrants, equivalent to 54 tonnes, have been declared invalid after being found to be “non-conformant with the contract specifications”, the LME said in a March 17 notice. What should have been bags of nickel briquettes grading at least 99.8% pure metal have turned out...
Canadian mining firm McEwen Mining has pushed out plans for going public with its copper venture to later in the year or early next year, chairperson and chief owner Rob McEwen said on Tuesday, noting that the recent investments by European automotive group Stellantis and diversified major Rio Tinto have reduced the urgency to do an initial public offering (IPO)....
