By Leia Michele Toovey- Exclusive to Nickel Investing News London Metal Exchange nickel dropped by approximately five per cent to two week’s low as the stronger greenback made the metal more expensive for holders of other currencies. Nickel dropped by 4.7 per cent to US$19,300 a tonne, it’s lowest since August 20, 2008. LME inventories [...]
Fox Resources reported that the net loss of nickel and base metals has soared 240 per cent to $28.4 million after the company made write downs after the suspension of its Radio Hill operations. Fox Resources managing director Bruno Seneque said: With our Radio Hill operations on care and maintenance, the Directors regarded it necessary [...]
Nickel prices could drop another 25 per cent by the end of this year, unless orders from stainless steel producers in Europe increases in the next two to three weeks, industry sources and analysts reported. Wright was quoted as saying: If demand from the stainless steel mills does not pick up in the fourth quarter, [...]
OZ Minerals is proud to announce that its Avebury mine made its first shipment of nickel concentrate on Sunday, 24 August. OZ Minerals’ Chief Operating Officer, Brett Fletcher, said: This is an outstanding effort by the team at Avebury to get us to this point and our focus is now on meeting next month’s shipment [...]
The international workshop dedicated to prevention and management of emergencies in the Arctic region including environmental emergencies commenced its work today in Dudinka. General Director of MMC Norilsk Nickel Vladimir Strzhalkovky said: The Arctic is not a theoretical but a practical issue to us. Here, in the Taimyr Peninsula, our operations are united in one [...]
Reuters reported that, Nickel prices may fall another 25 percent by the end of this year, unless orders from stainless steel producers in Europe increase in the next two to three weeks. Wright was quoted as saying: If demand from the stainless steel mills does not pick up in the fourth quarter, we could see [...]
Reuters reported that PT Aneka Tambang Tbk of Indonesia, state owned miner, has revised its nickel sales target up by nearly 6% for 2008 from an earlier target to increase revenue as nickel prices lessen. Mr. Alwin Syah Loebis, president director of Antam, was quoted as saying: We plan to increase ferronickel sales in anticipation [...]
Panoramic Resources Limited announced a full year NPAT of $53.3 million, down by 39.5% on the last year’s result. The company reported despite the production increase of 13% and decreased unit costs, profit was hurt by a 17% fall in the average realised nickel price for the year. For full information click here
Resources investor Lion Selection Ltd. (LST.AU) on Monday reported that the sale of its 20.5% stake in nickel miner Albidon Ltd. (ALB.AU) has failed because of weak market conditions. For full information click here
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