Patrick Buffet, chairman and CEO of French mining and metallurgical group Eramet, recently commented that the nickel market is in an oversupply "crisis."
Nickel prices are very likely to see a boost if Indonesia goes through with a proposed ban on unprocessed ore exports on January 1, 2014.
Glencore Xstrata and Vale are reportedly again in talks about combining their nickel-mining operations in Canada's Sudbury Basin.
Like many other major miners, today's weak pricing environment has forced Russia's Norilsk Nickel to rethink its focus and overhaul its operations.
PolyMet Mining Corp. (TSX:POM,NYSEMKT:PLM) has completed and posted its supplemental draft Environmental Impact Statement to the Minnesota Department of Natural Resources, for the NorthMet Project. The supplemental draft EIS will be published in the Minnesota Environmental Quality Board Monitor Dec. 9, 2013, and the Federal Register Dec 13, 2013. The public comment period administered by the co-lead agencies will formally open on Dec. 14, 2013, and continue through March 13, 2014.
North American Nickel Inc. (TSXV:NAN,OTCBB:WSCRF) announced preliminary results from this year's VTEM Plus helicopter borne geophysical survey at Maniitsoq: 389 electromagnetic (EM) responses were detected, and a preliminary review of the survey results has identified one hundred new conductor zones.
Gateway Mining Ltd. (ASX:GML) announced the completion of a reverse-circulation drill program at its flagship Gidgee project, located in Western Australia. Drilling was focused at the Cup prospect area.
France 24 reported that Patrick Buffet, chairman and CEO of Eramet SA (EPA:ERA), is blaming losses at Societe Le Nickel, the company's New Caledonia-based subsidiary, on a "violent crisis" that he says is gripping the nickel market.
North American Nickel Inc. (TSXV:NAN) CEO & Chairman, Rick Mark, spoke with Resource Investing News about the Maniitsoq Project in Greenland.
Polymet Mining Corp. (TSX:POM) CFO Douglas Newby spoke with the Investing News Network during PDAC 2013 in Toronto. Polymet is a Canadian company with a large copper-nickel deposit, the NorthMet project, in Northeastern Minnesota. The company is currently at the permitting stage for its Minnesota project. Mr. Newby commented that obtaining permits can sometimes be challenging in the US, but once a project is fully permitted it is an advantageous jurisdiction.
Bloomberg reported that yesterday, Citigroup Inc. (NYSE:C) raised its 2014 nickel price forecast from $16,375 to $17,000 per metric ton (MT) due to its belief that "the Indonesian export ban is essentially being mispriced."
Mineweb reported that according to analysts at UBS AG (NYSE:UBS), Indonesia's ban on the export of nickel ore has a "low likelihood" of happening. The firm believes that a "phased ban that doesn't put near the same pinch on nickel supply" is more likely.
The Financial Times reported that Indonesia's chamber of commerce has warned that if a planned ban on the export of raw minerals goes forward, the country's mining industry will collapse. Many believe the government will ultimately change its mind about the ban.
MetalBulletin reported that this week, Jinchuan Group Ltd., China's largest nickel producer, has raised its benchmark nickel price by almost 5 percent. The move follows the metal's price gains on the London Metal Exchange.