By Kishori Krishnan Exclusive To Nickel Investing News Nickel prices recently recovered from a seven week-low, but obviously not enough for Canadian mineral exploration company Crowflight Minerals Inc (CML.TO) which has decided to down shutters at its Bucko Lake nickel mine in Manitoba for three months. Around 45 employees are to get the pink slip, [...]
Mining Reporter Major nickel mining operations in Sudbury, Ont., will come to a standstill for the first time in more than a century this summer after Brazil’s Vale Inco revealed its plans to shutter its Sudbury mines and smelters for two months. For full story, click here
Vale completed the purchase of Inco in 2007 to become the world’s second-largest nickel producer after Russia’s MMC Norilsk Nickel. Prices of nickel for delivery in three months plunged 56 percent in 2008 on the London Metal Exchange as the global credit crisis reduced demand for stainless steel. For full story, click here
FNX Mining has announced that it will raise up to C$15-million by selling 2,17-million flow-through shares, to fund exploration on the company’s Sudbury properties, in Ontario. For full story, click here
Xstrata Nickel’s Greater Sudbury reported that its operations at the still-under-development Nickel Rim South are now closed. For full story, click here
When Vale Inco’s layoffs will be put in work, the City of Greater Sudbury will have lost about 3,450 direct and indirect mining sector jobs since early fall. Dick DeStefano, executive director of the Sudbury Area Mining Service & Supply Association, stated: Our guys are really worried more about the impact on the community. For [...]
By Leia Michele Toovey- Exclusive to Nickel Investing News Under the weight of high inventories, nickel is anticipated to be one of the slowest industrial metals to rebound. LME stocks of nickel are at their highest since around mid-1995. The world refined nickel market was in surplus by 42,900 metric tonnes in January-November of 2008, [...]
Overview Bold Ventures Inc. (BOL: TSX.V) is an exploration company with three Canadian projects. The Company’s main emphasis is on two Nickel-Copper-PGE exploration properties located in the McFaulds Lake area ‘Ring of Fire’. In addition, Bold continues to actively investigate additional opportunities in the ‘Ring of Fire’ area. Investment Highlights: Option agreement with Noront Resources [...]
By Leia Michele Toovey- Exclusive to Nickel Investing News Nickel futures traded higher on India’s Multicommodity Exchange (MCX) today due to increased buying interest. A favourable response to the stimulus packages that will be put in action by the incoming U.S. administration lifted most of the base metals. On the MCX, Nickel December 2008 contract [...]
By Leia Michele Toovey- Exclusive to Nickel Investing News The sharp retreat in the price of nickel in 2008 as demand from the key stainless steel sector plummeted has forced several producers to curb output or defer projects. So far, in 2008, and extending into 2009, mines in Australia, Canada, Finland, Africa and Asia have [...]
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