Jinchuan May Have to Compete with BHP to Secure Nickel Supply
Jinchuan’s supply contract with Western Areas runs out at the end of the year, while BHP closed its Perseverance nickel mine in Western Australia in October and needs to source new supply to feed its Nickel West smelter, Western Area’s Managing Director Dan Lougher said in an interview by phone.
“We can give them more if they pay the right dollar,” Lougher said May 9. “Jinchuan is always keen to talk about life-of-mine contracts. The competitive tension that you can get around the smelters is quite important for us.”
Nickel, used to make stainless steel, rose to a two-year high this month on concern that Indonesia’s ore export ban is reducing global supplies. Nickel may rise to more than $30,000 a metric ton next year, according to Citigroup Inc. It traded at $20,760 at 3:35 p.m. Sydney time.
Read more at: http://www.businessweek.com/news/2014-05-12/jinchuan-may-have-to-compete-with-bhp-to-secure-nickel-supply
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