By Leia Michele Toovey- Exclusive to Nickel Investing News

^[1]On Monday, LME Nickel was on the upside with prices jumping 5.5 per cent. Nickel was just one of the metals ^[2] that rallied on Monday, after news that there would be coordinated steps taken outside the US to combat a global recession. Nickel for three-month delivery on the London Metal Exchange rose to $12,850 a tonne from $12,175 at the close on Friday. On the MCX, Nickel Futures were bullish, Nickel October contract gained 3.73 per cent at Rs 603.50 per kg; down from its opening price of Rs 606.90, but up compared to Friday's closing price of Rs 581.80. Nickel November contract jumped higher 4.01 per cent at Rs 619.50 per kg as compared to its previous closing of Rs 595.60. Similarly, Nickel December contract increased by 3.48 per cent at Rs 625. It opened at Rs 624.90 as compared to its earlier closing of Rs 604.

Company News

United Company RUSAL ^[3] has called for an extraordinary meeting of Norilsk Nickel ^[4] shareholders in an attempt to reconfigure the board. The board of Norilsk is controlled by Vladimir Potanin, who has been accused to be leading the way for inside deals between the board of directors that enable Mr. Potanin to tighten his reins of control over Norilsk. Since July, there has been a juggling of board of director members and Norilsk Nickel executives, and all these moves have increased Mr. Potanin's control.

Rusal believes that these moves were approved due to allies on the board of directors formed by common relationships with Interros, and these strategic moves do not have the general shareholders best interests in mind. To make sure the board of directors is unbiased; Rusal suggested expanding the nine member board to a total of 13 members. Rusal owns 25 per cent of Norilsk, Russia's largest mining company. Rusal intends to propose Fiat SpA chairman Luca Cordero di Montezemolo, Kinross Gold Corp chief executive officer Tye Burt and James Goodwin as new non-executive directors. Rusal also challenged Norilsk's decision to use cash held by its subsidiaries to buy back company shares. "The only goal of the buyback was to concentrate further Potanin`s control over Norilsk Nickel," Rusal said.

A major stakeholder in Noront Resources Ltd. is waging to gain control over the junior miner. Rosseau Asset Management Ltd. said Thursday it has proposed to replace Noront's standing board of directors with its own slate after the company "squandered" its leading position at the McFaulds Lake discovery near James Bay.

This move comes approximately one year after Noront announced it had discovered a potential massive deposit of high grade nickel and copper on its North Bay, Ontario property. This announcement garnered a lot of attention to this area from exploration companies, and many companies began work in the area now dubbed "The Ring of Fire. ^[5]" Rosseau currently holds 9.2 per cent of outstanding common shares in Noront, valued at $11.3 million.

Further drilling by Noront has since shown its find to be smaller than initially believed, however there remains much interest in developing the project, estimated to hold more than three million tonnes of ore. Rosseau said it has begun distributing a circular to shareholders ahead of Noront's annual meeting on October 28.

A group of EU delegates were taken on a mine tour in Africa by Tati mine chief for the first time since the signing of a Euro 2 million agreement for exploration at Selkirk and Phoenix mines in 2005. The System for stabilizing export earnings for mineral products (SYSMIN) facility had lent funds to the government of Botswana; the money was given as loans with low interest rates or grants to African, Caribbean and Pacific (ACP) countries for mining companies to buy equipment like drilling equipment and cranes. The purpose of the tour was to see first hand how funds have been used to increase mining activities in the region.