A Vancouver native, Charlotte recently graduated from Simon Fraser University, where she majored in English and Humanities. During her time there, SFU’s Writing and Communications program caught her attention, and she began working towards a Certificate in Editing. After completing an editorial internship at Vancouver’s Western Living magazine in the fall of 2010, she knew that she wanted to pursue editing further.
Charlotte is excited to have joined the Investing News Network as an editorial assistant, and looks forward to gaining more knowledge about the commodities sector. She plans to complete her certificate in the spring of 2013.
The nickel market is set to record a 90,000 MT surplus in 2013. Here’s a look at what factors are at play in the situation and what needs to happen for that surplus to be reduced.
MetalMiner reported that primary three-month nickel prices sank to $15,250 per metric ton (MT) on the London Metal Exchange (LME), while primary cash nickel prices fell to $15,195 per MT, also on the LME.
MetalMiner reported that Chinese primary nickel declined 4 percent after increasing by 1 percent the previous week. It has also seen declines on the LME and in India.
Belvedere Resources Ltd. (TSXV:BEL) released its financial and operating results for 2012, commenting that it produced 2,282 tonnes of nickel and saw $28.9 million euros in revenue. That’s up from 2011′s 2,157 tonnes and $24.7 million euros in revenue.
North American Nickel Inc. (TSXV:NAN,OTCBB:WSCRF) announced that it has started getting ready for this summer’s drill program at its Greenland-based, nickel-copper-cobalt-platinum group elements Maniitsoq project. At least 3,000 meters of drilling are planned, with fieldwork scheduled to start in May and drilling set to commence in June.
Royal Nickel Corp. (TSX:RNX) announced that it has signed a memorandum of understanding (MOU) with Tsingshan Holding Group Company Ltd., a top innovator in developing vertically integrated nickel pig iron. Among other things, the MOU outlines the companies’ objectives regarding downstream concentrate processing.
Noront Resources Ltd. (TSXV:NOT), along with Matawa First Nations Management’s Kiikenomaga Kikenjigewen Employment and Training Services (KKETS) and Confederation College of Applied Arts and Technology, signed a memorandum of understanding that cements its commitment to cultivating a skilled aboriginal workforce to help with its Eagle’s Nest nickel-copper-platinum-palladium project.
Reuters reported that in a revision to the deal originally laid out, Russian tycoon Roman Abramovich will pay the firms of Vladimir Potanin and Oleg Deripaska directly for his stake in Norilsk Nickel (MCX:GMKN). Analysts have said that means the money won’t go to minority investors and that Norilsk will likely have to borrow money in order to increase dividends as it has promised.
Bloomberg reported that Norilsk Nickel (MCX:GMKN), the world’s largest nickel miner and reportedly the biggest contributor to sulphur-dioxide pollution, is planning to initiate the first stage of a facility aimed at reducing these emissions in 2016.
Nickel North Exploration Corp. (TSXV:NNX) announced assay results from the diamond-drill program at its Quebec-based Hawk Ridge nickel-copper-platinum group elements project, commenting that the program focused on three areas and consisted of seven drill holes.
