MOSCOW – Russia’s Norilsk Nickel, the world’s largest nickel and palladium maker, expects 2014 average nickel prices to rise 16% from current four-year lows, Interfax news agency reported on Tuesday, citing its first deputy CEO.
Tag Archives: Nickel
LONDON (SHARECAST) –Xstrata has announced that its Koniambo Nickel project in New Caledonia has gone into production after producing its first metal this week, a key milestone for the five billion-dollar greenfield project.
Nickel miner PT Vale Indonesia, whose shares are traded on the bourse under the code INCO, is planning to spend up to US$216 million to support its business this year.
The Tokyo-based company forecast refined copper output will fall to 423,000 metric tons in the year started April 1 from the previous year’s estimated output of 436,000 tons, it said in astatement today. The company plans to increase electrolytic nickel production by 30 percent to 53,200 tons, it said.
Net income at the Indonesian unit of global nickel giant Vale last year fell to less than a quarter of the figure a year earlier, unaudited results released on Thursday showed, a dramatic plunge the company blamed on lower global prices for the metal.
Vale Indonesia posted a net income of $67.5 million in 2012, down 80 percent from $333.8 million the previous year. Revenue fell to 19 percent to $967.3 million from $1.2 billion.
BHP Billiton (ASX, NYSE: BHP)(LON: BLT), the world’s biggest mining company, confirmed Tuesday it has discovered a significant high-grade nickel deposit, named Venus, which could “reshape the future profitability and direction” of its struggling Nickel West business.
BHP Billiton has cranked up the potential for a $US4 billion ($3.89bn) spin-off of its ailing nickel division by making a big high-grade nickel discovery near its Perseverance mine at Leinster, 375km north of Kalgoorlie in Western Australia.
LONDON, Feb 21 (Reuters) – The world’s warehouses are packed with ever more metal like copper that industrial users think they can use if needed, but they could suffer costly surprises: big financial firms have other plans for the material.
PERTH (miningweekly.com) – Swiss-listed diversified miner Xstrata on Tuesday reported record yearly thermal coal and refined nickel volumes for the year ended December, as well as the second consecutive quarter of record Australian zinc production.
Russian mining giant OAO Norilsk Nickel (GMKN.RS) has approved an investment program worth 75.4 billion rubles ($2.5 billion) in 2013, the company said in a statement Monday.