By Leia Michele Toovey- Exclusive to Nickel Investing News Miners across the globe are a worried lot, what with the plunging price of nickel putting pressure on companies to streamline operations. Mines in Australia have been especially hard hit, due to the weakening Australian dollar; down 10 per cent against the US greenback since mid [...]
BHP Billiton’s Ravensthorpe laterite development could struggle to turn a profit at full capacity if nickel prices continue to decline. BHP’s Chief financial officer Alex Vanselow said: The mine and complex processing plant in the south of Western Australia, which was due to hit full production in 2010, would not necessarily make an acceptable profit [...]
Victory Nickel Inc. made an offer to acquire all outstanding common shares of Independent Nickel Corporation. Rene Galipeau, Victory Nickel’s Vice-Chairman and Chief Executive Officer, said: This transaction is a natural fit for our two companies which are focused on developing nickel projects in Manitoba. For more information, click here
The closure of Xstrata’s Falcondo Nickel mine is a possible sign of things to come. With prices down so much, analysts are speculating that more mines could be shut down. For more information, click here
Pacific Coast Nickel Corporation reported commencement of drilling at its Burwash Yukon project. For more information, click here For company’s website, click here
Hard Creek Nickel Corp. reported analytical results for the recently completed exploration drilling program at its Turnagain Project. Mark Jarvis, President of Hard Creek Nickel, said: We have been successful at confirming additional Ni-PGE mineralization in the Cliff Zone proximal to that drilled in 2007. For more information, click here For company’s website, click here
By Leia Michele Toovey- Exclusive to Nickel Investing News Nickel futures continued to exhibit a weak trend backed by high inventories and poor demands from stainless steel makers. On India’s MCX, August 2008 contracts were down by 26 per cent to trade at Rs 806 per kg on Monday. The ongoing downside movement is expected [...]
Latest data from International Nickel Study Group (INSG) showed that the global nickel market moved further into surplus in June. They also reported that refined nickel production of 117,000 tonnes in June versus consumption of 109,000 tonnes. For more information, click here
Nickel futures prices may remain weak over the next few days due to higher inventory level and weak demand from stainless steel mills. For more news, click here
War between Norilsk Nickel and RUSAL is continuing as Mr Vladimir Strzhalkovsky, GD of Norilsk Nickel, refuted charges made by RUSAL CEO via a letter. Mr Vladimir Strzhalkovsky said: On the issues of improving the environment in the regions where the company operates, I deem it necessary that your letter should generate a response in the [...]
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