Weekly Nickel News

Top Stories : November 14 to 20
Fund Raising/Grants
BHP has revised the offer price up by 13pc to A$28.25/share from A$25/share in its original offer. “This offer price represents the best and final price BHP is willing to offer under the Revised Proposal, in the absence of a competing proposal,” BHP said. The revised price corresponds to an enterprise value of A$9.6bn for Oz Minerals.

Economy
MMC Norilsk Nickel, the largest producer of palladium and high-grade nickel and a major producer of platinum and copper, developed three scenarios for the global economy and climate change through 2050 and presented them during the 27th Conference of the Parties to the UN Framework Convention on Climate Change in Egypt.

Production/Operations
Ardea Resources has made a processing breakthrough with bench-scale metallurgical test work on ore samples from the company’s proposed Kalgoorlie nickel project Goongarrie Hub in the Goldfields region of WA. Ardea’s new lab results suggest the company could process an additional 200,000 tonnes of feed grading 1 per cent nickel per annum by matching the project’s various mineralisation styles to its proposed processing circuit.

Blackstone Minerals has validated its process for the company’s proposed Ta Khoa nickel refinery project in Vietnam after its metallurgical test work program was successful in producing battery-grade nickel and cobalt sulphates in addition to processing third-party cobalt supply.

Western Australian explorer NickelX has commissioned a low-level drone magnetometer survey as the initial stage of its field program at the Dalwallinu nickel-copper-platinum group element project. Dalwallinu is located 208km northeast of Perth and is NickelX’s target for mineralisation similar to that at the now famed Julimar discovery near the town of Toodyay, owned by Chalice Mining (ASX: CHN).

FPX Nickel reports an upgraded resource estimate for the Baptiste nickel project in central British Columbia. The new estimate includes the results of infill drilling done in 2021 and is based on a new geological modelling approach. For the first time, the total nickel content and potential byproduct cobalt and iron are included.

Flying Nickel Mining Corp. is pleased to announce that it has filed its independent Technical Report titled “NI 43-101 Technical Report on the Mineral Resource Estimate for the Minago Nickel Project” with a report date of September 22, 2022 and an effective date of February 28, 2022.

In parallel with workstreams relating to the restart of its Nifty copper project, Cyprium Metals (ASX: CYM) has uncovered copper, zinc, gold and nickel from drilling at the Cue project earlier this year.

Canada Nickel Company Inc. today announced the results from initial phases of pilot plant testing on 34 tonnes of material from the Company’s Crawford Nickel Project with the major focus on testing an updated magnetite recovery circuit and generation of both nickel and magnetite concentrates for further downstream testing.

Nimy Resources (ASX: NIM) has firmed-up further anomalies following an ongoing data review from a first pass moving loop electromagnetic (MLEM) survey across its Mons nickel project in Western Australia.

Palladium One Mining Inc. is pleased to announce sample assay and drone-based magnetometer (“Mag”) survey results on the Canalask Nickel-Copper-PGE Project, located beside the Alaskan Highway in the Yukon, Canada. “The Canalask Project is compelling because it hosts a footwall nickel-copper deposit of unknown origin, suggesting that a larger deposit is present at depth within the ultramafic dyke.

Archer Exploration Corp. announces that it has completed its previously announced acquisition (the “Asset Acquisition”) of all of the nickel assets, rights and obligations located in Quebec and Ontario (the “Nickel Assets”) from Wallbridge Mining Company Limited (“Wallbridge”).

SLN, the New Caledonian nickel producer controlled by French mining group Eramet, is seeking help from a court-appointed expert to lead talks with stakeholders as it faces a cash squeeze from production setbacks and soaring costs, it said on Friday.

Nickel Industries Limited is pleased to advise that the Company’s 70%-owned Oracle Nickel Project within the Indonesia Morowali Industrial Park (“IMIP”) in Central Sulawesi has produced its first batch of nickel pig iron (“NPI”). Having previously reported the electrification and ignition of ONIâ??s first RKEF line in late October, a maiden â??NPI tapâ?? was completed on 14 November, well ahead of the scheduled delivery date of February 2023. Oracle Nickelâ??s other three RKEF lines will be progressively commissioned over the coming months, with all four RKEF lines anticipated to have commenced operations by the end of the first quarter of 2023.

The company is highly optimistic that the Callisto mineralised system within the Norseman Project can host higher grades of palladium and nickel. Galileo Mining Ltd – Galileo Mining increases palladium and nickel grades

Talon Metals (TSX: TLO) announced the closing of its recent bought deal offering of common shares. For the price of $0.49 per share, the company issued an aggregate of over 75 million shares, including 8.8 million shares issued upon the partial exercise of the over-allotment option granted to underwriters in connection with the offering, for aggregate gross proceeds of $36.8 million.

GM and Vale announced that they have come to an agreement for the former to get a significant part of the nickel sulfate that Vale plans to produce at its upcoming new Quebec Battery Valley factory.

Gungnir Resources Inc. is pleased to report further, near-surface massive sulphide drill intersections at the Company’s Lappvattnet nickel deposit in northern Sweden. Highlighted holes include LAP22-25 and LAP22-23 which were drilled 80 metres west and east, respectively, of hole LAP22-19 which cut 9.0 metres of 2.35% Ni including 5.66 metres of 3.02% Ni in the central part of the Lappvattnet resource.

Contract/Orders
Estrella Resources has signed an offtake and ore processing agreement with Glencore subsidiary Murrin Murrin Operations for 2000 to 4000 tonnes of bulk metallurgical sample from its 5A nickel mine near Kambalda. The company says a positive process outcome from the bulk metallurgical sample will give Estrella a strong base from which to fully develop the 5A nickel mine using simple pit cutback methods.

Investment
Located in Morowali Regency, Central Sulawesi Province, Indonesia, the PT Indonesia Morowali Industrial Park (IMIP) is an integrated nickel-oriented industrial site covering about 3,200 hectares. It was first built in 2013 as a joint venture between Indonesia’s Bintang Delapan Group and China’s stainless steel giant Tsingshan Iron and Steel Group.

Business Expansion
Privately owned Australian firm Wyloo Metals, which earlier this year bought Noront Resources for its high-grade nickel deposits in the Ring of Fire district of Ontario, is expanding in Canada, with its eye on nickel and copper in the Grenville region of Quebec.

News Stories
Vendor/ Supplier Related
Future Metals NL (ASX:FME, AIM:FME) has delivered near-surface sulphide mineralisation in its ongoing diamond drilling program, providing further evidence for a large nickel-copper-PGE system at its Panton Project in the East Kimberley Region of Western Australia.

Squire Patton Boggs has advised Redwood Materials, the Nevada-based battery recycling and components production company, on an agreement with Panasonic Energy of North America, the largest supplier of battery cells for electric vehicles in the US, to supply high-nickel cathode to Panasonic’s new Kansas plant starting in 2025.

The effort underway in the United States to cut carbon emissions in half by 2030 is placing increased emphasis on going all electric. The electrification of transportation is well underway, but is creating a huge demand for battery energy storage. With China dominating the lithium market, it’s time to shore up the domestic production of lithium.

Investor Relations
The Stainless Monthly Metals Index (MMI) moved sideways with a modest 1.41% decline from October to November. All in all, the stainless steel price movement primarily reacted to volatility in nickel trading.

The London Metal Exchange (LME) said on Wednesday it was conducting enhanced monitoring of nickel trading after prices fell as much as 12% in volatile and illiquid conditions.

London Metal Exchange (LME) nickel trading has turned wild again this week.

During this bear market you can follow full-time trader Chris Capre & get his options trades signals in real-time. Lygend Resources has passed listing hearings at the Hong Kong Stock Exchange and is said to be looking to raise $1 billion. The company is on track for strong growth with the rapid uptake of high-nickel batteries for electric cars

Nickel prices jumped 15% on Monday to their highest since May as funds and traders reversed bets on lower price in an illiquid market ahead of contract settlement on Wednesday, traders said. Benchmark nickel on the London Metal Exchange was up 2.4% at $27,565 a tonne at 1108 GMT after earlier touching $30,960 a tonne, the highest since May 5.

As of November 18, the inventory of nickel ore across Chinese ports decreased by 98,000 wmt to 9.04 million wmt compared with last Friday. The total Ni content stood at 71,000 mt. Port inventory of nickel ore across seven major Chinese ports stood at 4,792,000 wmt, 58,000 wmt lower than last week.

The London Metal Exchange (LME) is hiking initial margins by 28% on nickel, which the exchange has targeted for heightened monitoring due to heavy volatility in recent days. A notice released on Wednesday said the initial margin for nickel would climb to $6,100 a tonne effective after close of business on Friday, from $4,765 previously.

The London Metal Exchange’s decision not to ban Russian metal from its warehouses has triggered a rush to conclude contracts with the country’s two big producers.

Share Purchase Plan: Closing Date (Markit Digital Advertising)
Auric Mining Limited (ASX: AWJ) (Auric or the Company) advises that its Share Purchase Plan (SPP) is due to close on Thursday, 24 November 2022. The SPP Prospectus and Application form are now available to Shareholders via the Company’s website at the following link: https://www.auricmining.com.au/investor-centre/

IGO held its annual general meeting today Acting CEO Matt Dusci outlined the global supply and demand outlook for lithium and nickel Alongside most ASX lithium shares, the IGO share price has screamed higher in 2022 up 33% The IGO Ltd (ASX: IGO) share price closed 0.69% lower at $15.86 today. The dip came as the IGO annual general meeting took place in Perth.

Contract/Orders
Indonesia’s state miner PT Aneka Tambang Tbk and Chinese precursor manufacturer CNGR Advanced Material Co. Ltd. signed a framework agreement to build a nickel industrial park in Indonesia, the companies said on Wednesday.

General Motors Co (GM.N) aims to slash the cost of electric vehicle battery cells and has added Vale to its growing roster of battery material suppliers as the automaker girds for increasing EV competition beyond 2025, GM said on Thursday.

Production/Operations
Russian miner Nornickel is reportedly looking for new ways to supply its large nickel plant in Harjavalta, Finland, with raw materials after local rail operator VR refused to carry Russian cargo. “The company is considering the possibility of working with other operators, as well as deliveries directly by sea,” according to Russian newspaper Kommersant. Analysts consider the last option the most realistic.

A lot of volatility in nickel contracts after they had recently risen by almost 40%. Was the lack of liquidity on the LME market to blame Or the LME itself Emptying stainless steel stocks in China, strong ferronickel and NPI demand and lack of supply are driving prices. Scrap in short supply in Italy, prices rise. And is Outokumpu possibly planning a takeover

Panasonic will source Redwood’s cathode material for battery cell production in Panasonic’s new Kansas plant, targeted to come online in 2025. This will be the first time cathode has been produced in North America at Gigafactory scale and used in U.S. battery cell manufacturing.

The country’s mining industry has been “decarbonizing” its operations and has developed processes to recycle mine tailings to help beat climate change, mine leaders said at this year’s Mine Safety and Environment Conference here.

“There is renewed, growing concern that nickel supply will come under pressure as the Russia/Ukraine conflict continues,” one dealer said. Market participants pointed to a number of factors that have shrunk supply and pushed prices higher.

Stepping into Mustajab Syahrir’s home in the village of Papan Loe feels like treading on a beach of fine sand. “What am I supposed to do” Mustajab said. “As long there is wind, the dust is going to get inside.”

The troubled Goro nickel mine — one of the world’s largest deposits, which is part-owned by Trafigura Group and backed by Tesla Inc. — has been forced to reduce production to address a leak from its tailings dam.

Ores that contain metals such as nickel, cobalt, and copper are widely used to produce products like cables and batteries needed in the energy industry. Once those elements have been harvested through mining, leftover remnants are usually discarded.

The U.S. Treasury Department on Friday issued sanctions targeting Russian involvement in the Guatemalan nickel sector, according to a statement.

Magna Mining commences drilling activity at Crean Hill

Oz Minerals Says West Musgrave Nickel Processing Looks Promising

Quebec Nickel Corp provided a sweeping update on the recent exploration activities at its Ducros nickel-copper-cobalt-gold-platinum-group elements (PGE) project, 80 kilometers (km) northeast of Val-d Or, in Quebec.

The London Metal Exchange’s nickel platform has been rocked by volatility this year, driven by a physical shortage of pure nickel, the sanction spree on Russia (which accounted for 17% of global production of high-grade output), a gigantic bet gone wrong, and pretty questionable corporate governance practices.

Survey captures 3D data for Legend at copper-nickel prospect

Landore Resources Ltd (AIM:LND, OTC:LNDLF) said it intersected significant palladium-enriched nickel mineralisation on the Felix-Lamaune prospects at its Junior Lake Property in Ontario, Canada. Results from the 21.74-metre (m) intersection from one drill hole included 0.34 grammes a tonne (g/t) palladium and 0.11g/t platinum

According to SMM research, the bonded zone inventory rose slightly to 4,800 mt this week. The inventory of nickel briquette was 1,050 mt, and that of nickel plate stood at 3,750 mt. Spot import losses soared to around 35,800 yuan/mt as the SHFE/LME nickel price ratio fell to 7.04 affected by the price difference between the domestic and overseas futures prices

Nickel M & A is back on the agenda, with private equity leading the charge in a massive bet on the future of electric vehicles and the battery market. Last year Andrew Forrest’s Wyloo Metals pipped BHP (ASX:BHP) to Canada’s Noront Resources, now known as Ring of Fire Metals, a frontier explorer seeking to develop a major new nickel, copper, cobalt and chromium district in remote northern Ontario.

In an effort to reduce China’s dominance in the electric auto battery industry, ease looming supply bottlenecks and lead to mass-market electric vehicles, U.S. and European startups are racing to develop new batteries using sodium and sulfur, two abundant and inexpensive raw materials.

JOHANNESBURG (miningweekly.com) Latest news from Sedibelo Platinum Mines in North West province is that the company’s Pilanesberg platinum mines situated in the Bushveld Complex, 207 km west of Johannesburg, will not only have abundant solar power on site plus a world-first smelterless processing technology that consumes 82% yes

EV battery makers race to develop cheaper cell materials, skirting China

Auto Makers Shift to Lower-Cost Batteries for Electric Vehicles

The company is working with the Ngarluma Aboriginal Corporation to complete follow-up heritage clearance surveying focussed on planned drill pads and associated access tracks with a view to starting drilling in December.

The rig will this week start drilling up to two holes totalling 1,100m to test a large electromagnetic anomaly for high-grade massive nickel-copper sulphides with platinum group metals at the prospect within the Platinum Springs project.

The three other RKEF lines will be progressively commissioned over the coming months, with all four RKEF lines anticipated to have started operations by the end of the first quarter of 2023. Oracle Nickel has a nameplate capacity of 36 000 t/y of nickel and similar to the Angel nickel project is expected to operate in excess of 130% of nameplate capacity once fully ramped up.

Pricing
Nickel prices soar as “thin” trading conditions boost volatility

Nickel dogged by liquidity concerns and price volatility

Studies/Surveys
Researchers looking to make a new generation of supercomputers desire to have inspired by the most complicated and energy-efficient computer ever built: the so-called human brain. In a few of their initial forays into creating brain-inspired computers, scientists are looking at various nonbiological materials whose properties could be customized to show proof of learning-like behaviors.

Scientists looking to create a new generation of supercomputers are looking for inspiration from the most complex and energy-efficient computer ever built: the human brain. In some of their initial forays into making brain-inspired computers, researchers are looking at different nonbiological materials whose properties could be tailored to show evidence of learning-like behaviors.

Data center operators face continual pressure to deliver more with less: to improve data centers reliability, safety, and sustainability, all while working under economic constraints. In this attempt, many have overlooked the uninterruptible power supply (UPS) system

Legal Action
Ecuador’s Shuar Arutam indigenous people said on Friday they will not allow mining on their territory, threatening a large copper mining operation in the Andean country, after a court ruled their rights to prior consultation were violated.

Fund Raising/Grants
Indonesia, already the world’s largest nickel producer, has been on a campaign to attract investments to secure further dominance over the global supply of key battery metals, essential for the production of electric cars. Its biggest backer right now China.

Management Change
Dundas Minerals Ltd (ASX:DUN) has appointed a highly regarded and experienced independent nickel consulting geologist to assist with the company’s exploration program. Grant ‘Rocky’ Osborne will bring his international experience to DUN’s exploration for nickel, copper and gold in the prospective Albany-Fraser Orogen, Western Australia.

Government/Regulatory
The Indian government will help domestic companies, including private entities, to pick up strategic assets in critical mineral spaces such as lithium and nickel in Australia to ensure a steady supply of the ore for the country’s clean tech safari.

Indonesia, home to a quarter of the world’s nickel reserves, is proposing the creation of an organization similar to OPEC for the metal used in battery-making to coordinate supply. Investment Minister Bahlil Lahadalia expressed the idea of creating an “OPEC-like” cartel in a meeting with Canada’s International Trade Minister Mary Ng on the sidelines of the Group of 20 Summit in Bali on Tuesday

Stock/Shares
Wallbridge Mining (TSX: WM, US-OTC: WLBMF) has completed the sale of all its nickel assets namely the Grasset and RUM projects in Quebec and Sudbury and NW projects in Ontario to Vancouver’s Archer Exploration (CSE: RCHR).

Awards/Accolades
On its first full year of commercial operations, the Balabag Gold and Silver Project of TVI Resource Development Philippines Inc. (TVIRD) in Bayog Municipality, Zamboanga del Sur was recently honored with the Presidential Mineral Industry Environment Award (PMIEA) the country’s highest accolade for excellence in environmental, social, and health and safety practices.

Merger/Acquisitions
Power Metal Resources PLC (AIM:POW) said it had completed the transaction to increase its interest in Kalahari Key Minerals to 87.7%. The London-listed exploration company said Kalahari Key holds a 100% interest in Molopo Farms project in southwestern Botswana, where a large-scale nickel platinum-group metal discovery is being targeted.

Investment
Canada has a new foreign investment rule that is sure to send ripples through the mineral and metal mining sector. Indeed, the country recently requested that China immediately sell its holdings in three Canadian mining companies. According to media reports, national security is the primary reason for the new order.

Earnings/ Financial Results
Global Ferronickel Holdings Inc. (FNI) said it recorded a net income of P2.3 billion in January to September, 23 percent higher than last year’s P1.86 billion. FNI said its revenues from the sale of medium-grade nickel rose on the back of favorable foreign exchange rate and higher average realized price, while shipment volumes reeled from inclement weather and a lower price for low-grade ore.