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...
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...
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...
Indonesian metal and mining firm PT Trimegah Bangun Persada is set to kick off its initial public offering as soon as Wednesday and is looking to raise about $650 million, according to people familiar with the matter. The company, also known as Harita Nickel, plans to offer shares at 1,220 to 1,250 rupiah each, said the people, who asked not...
Nickel companies are driving a record year for public listings in Indonesia, in a crucial test of investor enthusiasm for President Joko Widodo’s ambition to make the country a top participant in the global electric car market. Harita Nickel, a subsidiary of Harita Group with a significant project in North Maluku, is holding its investor roadshow this week and hoping...
Trafigura Group is carrying out a “major internal audit” after being hit by an alleged nickel fraud, Chief Executive Officer Jeremy Weir said in his first public comments on the subject. “You’ve got to learn from experiences like this,” he said in an interview with Bloomberg TV. He emphasized that the alleged fraud was limited to a particular line of...
Aurubis, a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide, officially kicked off construction of its state-of-the-art and energy-efficient bleed treatment plant at its Olen site in Belgium today. The new BOB (Bleed treatment Olen Beerse) facility, in which valuable metals like nickel and copper will be recovered from the electrolyte stream (the bleed),...
