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Nickel Laterites

Indonesia’s EV dreams at odds with deforestation pledge (Free Malaysia Today – November 16, 2021)

https://www.freemalaysiatoday.com/

JAKARTA: Global electric vehicle makers have set their sights on Indonesia, attracted by its abundant reserves of key EV battery ingredient nickel, government backing for the industry and the market potential of the world’s fourth most populous nation.

Such ambitions are on parade at the ongoing Indonesia International Auto Show, on the outskirts of Jakarta. Automakers from China, South Korea and elsewhere are counting on the Indonesian government’s push to increase EV sales, one of the ways in which Jakarta hopes to reduce the country’s CO2 output as it aims for net zero emissions by 2060.

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Battery-grade nickel demand to grow as world sets sights on low-carbon future – by Simone Liedtke (MiningWeekly.com – November 19, 2021)

https://www.miningweekly.com/

The global green transition and electrification of transport has started a paradigm shift in the demand dynamics of metals, which are required for a low-carbon future, and are set to experience a significant boost in demand in the coming decade at least, says research agency Fitch Solutions.

Battery-grade nickel, or Class 1 nickel (which contains more than 99.8% nickel content), used in rechargeable batteries is a major beneficiary, especially as the configuration of lithium/nickel/manganese/cobalt (NMC) oxide batteries used in electric vehicles (EV), is changing, with a shift from a 1:1:1 ratio (meaning nickel, manganese and cobalt were used in the same proportion) to 5:3:2, and then to the latest 8:1:1 (with eight parts nickel to one part of manganese and cobalt each).

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US adds nickel, zinc to draft critical minerals list, drops potash – by Mariaan Webb (MiningWeekly.com – November 2021)

https://www.miningweekly.com/

The US Geological Survey (USGS) has added nickel and zinc to its proposed list of 50 ‘critical minerals’ – defined as those essential to economic or national security and with a supply chain vulnerable to disruption – while four others, including potash, have fallen off the draft 2021 list.

The USGS has released its draft revised list of critical minerals and is allowing public comment until December 9. “The USGS’s critical minerals list provides vital information for industry, policymakers, economists and scientists on the most important minerals when it comes to US supply chains, says Assistant Secretary of the Interior for Water and Science Tanya Trujillo.

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Battery Boom Has Sherritt CEO Betting on Cuban Nickel Expansion – by Stephen Wicary and James Attwood (Bloomberg News – November 5, 2021)

https://www.bnnbloomberg.ca/

(Bloomberg) — Sherritt International Corp.’s new boss sees the electric-vehicle revolution stretching all the way to Cuba, with the Canadian miner planning to boost output of battery-grade nickel and cobalt.

In its first major move under Chief Executive Officer Leon Binedell, the Toronto-based company wants to increase production at its Moa joint venture in Cuba by 15% to 20% from the 34,876 metric tons produced last year.

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These green economy commodities are beating the best runs of the China supercycle – by David Rosenberg and Marius Jongstra (Financial Post – November 5, 2021)

https://financialpost.com/

The surge in commodity prices has been impressive since mid-2020, predictably resulting in calls that a new “supercycle” is underway. We have questioned that narrative, given the apparent supply-demand imbalances plaguing the globe and boosting prices in the process.

But one theme we do agree with is the long-term secular tailwinds behind a number of commodities required in the transition to a green economy in order to address climate change.

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Sherritt outlines brownfield growth strategy for Moa JV nickel and cobalt operation in Cuba – by Paul Moore (International Mining – November 4, 2021)

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Sherritt International Corporation, a world leader in the mining and hydrometallurgical refining of nickel and cobalt from lateritic ores, has reported its financial results for the three and nine months ended September 30, 2021, and announced it is embarking on an expansion strategy with its Cuban partners to capitalisee on the growing demand for high purity nickel and cobalt being driven by the accelerated adoption of electric vehicles.

The strategy, which will build on the 26-year successful track record of the Moa Joint Venture, centres on growing finished nickel and cobalt production by 15 to 20% per year from the 34,876 t produced in 2020 and extending the life of mine at Moa beyond 2040 through the conversion of mineral resources into reserves using an economic cut-off grade.

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Nickel prices surge to 7-year high, approaching $10 a pound – by Staff (Sudbury Star – October 20, 2021)

https://www.thesudburystar.com/

Driven in part by troubles with Vale’s Sudbury operations, nickel surged to a seven-year high on Wednesday. Nickel – the key mineral found in Sudbury – topped US$9.53 a pound, the highest it’s been since 2014.

Bloomberg News said concerns that there’ll be less supply of the key industrial metal to meet resilient demand from economies reopening as the pandemic retreats sparked higher prices.

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Road to Ring of Fire is Green National Priority for Ontario and Canada – by Stan Sudol

The thunder from down under has been reverberating through Ontario’s Ring of Fire mining camp – located roughly 500 kms northeast of Thunder Bay – as Australian mining giants BHP and Wyloo Metals are fighting a bruising bidding war for Noront Resources. The junior exploration company owns the Eagle’s Nest nickel/copper potential mine as well as extensive world-class chromite deposits and other mineral-rich promising ground.

BHP is the largest mining company in the world, whose current CEO, Mike Henry, is a Canadian, while Wyloo Metals is owned by Fortescue Metals, founded by mining billionaire Andrew ‘Twiggy’ Forrest, and is the world’s fourth largest iron ore miner.

“Noront’s ROF land package hosts some of the most prospective mineral deposits in the world. These deposits have the potential to become Canada’s next great mineral district, supporting the production of future-facing commodities for multiple generations”, claimed a Wyloo Metals news release in August.

The entry of multi-billion-dollar mining corporations signals a proverbial “game-change” in the stalled Ring of Fire mining camp. Noront Resource was a struggling junior company that did manage to consolidate almost half of the valuable mineral claims in the camp but did not have the funds to do significant further exploration or to build their existing mine. Newly established and well-funded explorer Juno Corporation is the largest claim holder who after extensive aerial geo-physics surveys that showcased promising anomalies, is hoping to add to future discoveries.

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Tesla inks multi-year nickel supply deal with Prony Resources – by Cecilia Jamasmie (Mining.com – October 13, 2021)

https://www.mining.com/

Electric vehicle giant Tesla (NASDAQ: TSLA) has inked a multi-year nickel supply deal with New Caledonia’s Prony Resources, which guarantees the US carmaker about 42,000 tonnes of the metal needed to produce the batteries that power its EVs.

Prony, which bought the loss-making nickel and cobalt operations in the French territory from Vale (NYSE: VALE) earlier this year, said it’s targeting production of 44,000 tonnes of nickel by 2024. That’s about double the expected 2021 output.

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Nickel: the mined commodity most exposed to biodiversity risks – report – by Valentina Ruiz Leotaud (Mining.com – October 7, 2021)

https://www.mining.com/

Nickel is the mined commodity most exposed to biodiversity risks, a recent report by Verisk Maplecroft shows.

According to the consultancy firm, the battery metal’s exposure to such risks is mainly due to the fact that some of the largest nickel operations on the planet are located in biodiverse areas such as Indonesia, New Caledonia and the Philippines.

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Jakarta to jolt sliding nickel price – report – by Frik Els Mining.com – September 29, 2021)

https://www.mining.com/

Nickel is having a bad week as China’s power crisis spreads from factories to households and its clampdown on steelmakers crimps the stainless market, still responsible for the bulk of demand.

Despite automakers’ clamour, less than 10% of nickel ends up in the battery supply chain, and market action is concentrated in Asia, specifically the Indonesia-China stainless steel industries. Nickel market watchers are not unaccustomed to ups and downs and Old Nick’s copper is having quite the year.

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Miners race for nickel as electric car revolution looms – by Henry Sanderson (Financial Times – September 12, 2021)

https://www.ft.com/

Western groups compete for assets to secure supplies of key battery metal

In remote northern Ontario, hundreds of kilometres from the nearest railway or paved road, the world’s largest mining group and an Australian metals tycoon are in a bidding war for a deposit containing millions of tonnes of nickel.

The battle between BHP and Andrew Forrest’s Wyloo Metals for the asset’s owner Noront Resources comes as miners race to meet surging demand for battery metals as electric vehicles go mainstream.

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Column: Shanghai squeeze revitalises flagging nickel market – by Andy Home (Reuters – September 9, 2021)

https://www.reuters.com/

LONDON (Reuters) – Nickel is making a comeback. London Metal Exchange (LME) three-month nickel hit a seven-year high of $20,225 per tonne on Thursday morning and has a new-found spring in its step after collapsing in February.

That is when Chinese steel group Tsingshan announced its Indonesian nickel operations would supply matte – a form of the metal used only for stainless steel production – to battery makers. That undercut a collective bet that only refined nickel would be sufficiently high grade for the electric vehicle sector.

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Hyundai, LG To Build $1.1 Billion Electric Vehicle Battery Plant In Indonesia To Tap Nickel Supply – by Ralph Jennings (Forbes Magazine – August 2, 2021)

https://www.forbes.com/

South Korean conglomerates Hyundai and LG will jointly build a $1.1 billion electric vehicle battery plant in Indonesia to take advantage of the Southeast Asian country’s potentially vast consumer market and rich natural supply of nickel.

The 50-50 joint venture, slated to operate in the Karawang regency, Indonesia’s West Java province, will break ground this year and start production in 2024 with annual capacity for 10 gigawatt hours of battery cells, Hyundai said in a statement on Thursday.

Hyundai and LG can churn out 150,000 battery-run electric vehicles at that capacity, the statement says. The factory built on 330,000 square meters of land will help Hyundai and its subsidiary Kia “secure a stable supply of EV batteries at a competitive price” for future electric vehicles, it adds.

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Nickel Deposits in Canada: A Quick Overview (Investing News Network – July 20, 2021)

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Commodity prices have seen drastic increases over the past several months as demand for materials increases in a post-lockdown world. Nickel is amongst many other metals that have seen increases in demand and prices as manufacturing scales up across the globe.

Nickel has traditionally been highly sought after for its use in the production of stainless steel. More recently, nickel has also become an increasingly important element in electric vehicle (EV) production, as the material allows for producers to create lighter, smaller and higher density batteries.

And as more and more countries around the world continue to push towards the adoption of EVs, demand for nickel has continued to increase. Analysts expect this rapidly expanding market to continue growing, with an estimated compound annual growth rate of 26.8 percent by 2031.

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