Nickel

Samsung eyes investment in $2.2bn Metals X nickel mine

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By David Fickling and David Winning

Munali Nickel of Zambia to Resume Output in January, Times Says

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By Anthony Mukwita

Zambia’s Munali nickel mine, operated by Albidon Ltd. (ALB), will resume production in mid-January after operations were halted earlier this month, the Times of Zambia reported, citing the Mineworkers Union of Zambia. Read more

Talvivaara Says Nickel Mine to Stay Open as Cuts Pollution

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By Kati Pohjanpalo

Talvivaara Mining Co. said its mine in Finland already has approval to keep operating from regional authorities after Environment Minister Ville Niinistoe told a state broadcaster today the site must “quickly” cut pollution.

Investigators responsible for making sure the nickel mine meets the requirements of its environment permit didn’t find any reason to close the site in a recent probe, Chief Executive Officer Pekka Pera said in a phone interview today. Read more

Nickel Surplus May Climb to Four-Year High as Demand Slows, Sumitomo Says

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By Jae Hur and Ichiro Suzuki

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, said Japan’s top producer.

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. Read more

Mirabela Deal Seen With Minmetals Chasing South American Nickel: Real M&A

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Minmetals Resources Ltd. (1208), backed by China’s biggest metals trader, is transforming companies from Mirabela Nickel Ltd. (MBN) to Alumina Ltd. into takeover targets as it eyes $7 billion of nickel, bauxite and alumina deals.

Minmetals, which agreed a month ago to buy copper producer Anvil Mining Ltd. (AVM) after losing a bidding contest for Equinox Minerals Ltd., is planning more takeovers, its chief financial officer said Oct. 28. The Hong Kong-listed mining company is turning to dealmaking with its own stock selling for less relative to earnings than any raw-material producer in the world, according to data compiled by Bloomberg. Read more

Norilsk Nickel envisages $35bn worth of investment to 2025

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The board of Russian miner Norilsk Nickel has approved a strategy that envisages investing $35 billion in 2011-2025 to expand its resource base and raise output, Norilsk said on Thursday.

“It is expected that by improving efficiency of production operations at the current deposit and initiating new projects in Russia, nickel production will grow by at least 19 percent, copper production by 49 percent and platinum-group metals production by 42 percent by 2025,” a Norilsk statement said.

Kagara close to sale of Lounge Lizard nickel sulphide deposit

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BASE metals miner Kagara expects to sell its non-core Lounge Lizard nickel sulphide deposit in Western Australia by the end of the year.

New chief executive Geoff Day said the copper, lead and zinc-focused company was working hard on the Lounge Lizard sale. Read more

NICKEL MINING: Liberty Mines to restart Timmins operations

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Liberty Mines of Toronto plans to restart production at its Timmins operations in Q1 2012. Mining and milling was suspended in February 2011 due to maintenance and tailings pond issues.

The company spent the last six months analyzing the tailings pond problems. It will embark on a project to raise the tailings dam to provide an additional three years of capacity. Read more

Rebels Raid Sumitomo Metal Mining’s Philippines Nickel Mine

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By Cecilia Yap and Jae Hur

Sumitomo Metal Mining Co., Japan’s largest nickel producer, said rebels raided its Taganito nickel mining project in the Philippines today.

No demands have been received from the rebels, according to a statement from the company. While four of its staff were confirmed safe, there are no reports on the safety of Japanese construction workers at the site, the statement said. Read more

Big Australian nickel mine due for start-up at year-end

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By Kevin Skinner

Canada’s First Quantum, the new owners of the revitalised big Ravensthorpe nickel project in Western Australia have committed to commence production at year’s end and will aim for an average output of 39,000 tonnes of nickel concentrate for at least the first five years of life.

Speaking in Perth on the second day of the 2011 Paydirt Australian Nickel Conference, Read more

China may get its first nickel ETF this year

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A financial firm backed by a Chinese bank plans to launch China’s first physical-nickel backed exchange-traded fund (ETF) later this year, which could raise the country’s import demand for the metal, trading sources said on Thursday.

“(Details) will be out after October,” a trading source with direct knowledge of the proposed ETF said. “The ETF is aimed to launch this year.” Read more

Chinese firm to double investment in Quebec nickel mine

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Jilin Jien Nickel Industry Co. will invest an additional $400-million in its project to extract nickel in Nunavik in northern Quebec.

Wu Shu, the mining company’s CEO, made the announcement Monday in Beijing after a meeting with Premier Jean Charest. Read more

NICKEL PERMIT: Licence granted for Minago mine

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The Manitoba government has granted the environmental licence for the construction, operation and closure of the Minago nickel mine 225 km south of Thompson. The owner, Victory Nickel of Toronto, plans to begin development this winter with pre-stripping of the pit.

“We have completed the feasibility study, improved the economic results of that feasibility study, increased the resource in the Nose deposit, expanded the amount of nickel within the proposed pit and identified the potential for an additional resource in the North Limb, Read more

Albidon Wants Bigger Stake in Jinchuan’s Nickel Mine, Post Says

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By Anthony Mukwita

Albidon Ltd. (ALB) wants to increase its stake in Munali Nickel, the Zambian mine that is 51 percent owned by Jinchuan Group Ltd., the Post reported, citing unidentified officials at the Australian company.

A pressure group called Action Albidon, led by the Australian investors, has been formed to spearhead the fight for a bigger share of Munali, the Lusaka-based newspaper said. Jian- Hua Sang, the chief executive officer of the mine, has resigned as a result of the “power wrangle,” it said. Read more

Minara flags 22pc cut to output after outage at Murrin Murrin plant

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By David Fickling

OPERATIONS at Minara Resources’ Murrin Murrin nickel plant have restarted following a failure last month but production will be up to 22 per cent below previous forecasts, the company said today.

The company packaged 7157 metric tonnes of nickel during the second quarter to June 30 and expects to produce 29,000 tonnes to 32,000 tonnes in the full year, against previous guidance of 33,000 tonnes to 37,000 tonnes in an April update. Read more

Minara Resources cuts nickel production after equipment failure

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By David Fickling

MINARA Resources has cut production at its Murrin Murrin nickel processing plant after the failure of a heat exchanger.

Minara said today that the acid plant — where acid is run through the ore to extract a nickel-rich solution — has been taken offline as a result of the failure. Read more

Itochu to acquire stake in Ivanhoe Nickel subsidiary

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By Euan Rocha

Japanese trading firm Itochu Corp said on Friday it agreed to acquire an 8 percent stake in Beales Ltd, which controls the Platreef platinum and nickel project in South Africa, for about $280 million.

Beales is a subsidiary of privately-held Ivanhoe Nickel & Platinum, headed by well known mining financier Robert Friedland. Read more

Vale inaugurates Brazil’s first nickel plant in Pará

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By Dorothy Kosich

Vale announced Monday that it has opened its first nickel production plant in Brazil, Onça Puma, one of the largest ferronickel production facilities in the world. Read more

Zambian Nickel Mine Targets 56,000 Tons of Concentrate: Post

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By Anthony Mukwita

The Munali Nickel Mine in Zambia, owned by China’s Jinchuan Group Ltd. and Australia’s Albidon Ltd. (ALB), plans to produce 56,000 metric tons of concentrate this year, the Post reported, citing a statement from the company. Read more

Norilsk Considers Mining Copper, Nickel in Central Russia

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By Ilya Khrennikov

OAO GMK Norilsk Nickel, a Russian miner with production north of the Artic Circle, is considering mining copper and nickel in Voronezh region, central Russia.

Norilsk is asking the government to tender rights for unallocated subsoil reserves, the company said today in an e- mailed statement. Norilsk had already planned to invest 2.7 billion rubles ($97 million) by 2018 on exploration, it said. Read more

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