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.
Articles Tagged "norilsk nickel"
Reuters reported that Russia’s Norilsk Nickel might halt operations at its nickel mine in Botswana due to a sharp drop in the prices of metals.
Reuters reported that nickel prices have reached its lowest in four years at $15,092 per ton.
Marketwatch reported that United Co. Rusal PLC said it expected Norilsk Nickel’s 2012 year-end results to adversely impact its overall 2012 earnings. The company has a 27.8% stake in Norilsk Nickel, which posted a net profit of $2.1B, lower by 41% as a result of its $976M write-off.
The land down under is known for its dominance of the iron ore market, but its nickel mining history is also long and colorful.
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.
Reuters reported that a feud between Vladimir Putin and Oleg Deripaska over Norilsk Nickel (MCX:GMKN) was ended when the two men agreed to give Roman Abramovich the largest voting stake in the company.
Reuters reported Norilsk Nickel (LSE:MNOD) will cancel 10 percent of its shares by mid-April 2013 in an effort to re-balance power.
Reuters reported Norilsk Nickel (LSE:MNOD) may delay a cancellation of treasury stock which could have boosted its share price due to a legal dispute with shareholder RUSAL .