Nickel Laterites – Page 37 – Republic of Mining

Nickel production to grow for first time since 2013 — report – by Cecilia Jamasmie (Mining.com – June 19, 2017)

June 20, 2017

http://www.mining.com/

If BMI Research predictions are correct, prices risk staying at painfully low levels for years.

Global nickel production will come out of negative territory this year for the first time since 2013, driven by Indonesia’s export ban moderation, a new report published Monday shows.

Along with Indonesia, Canada and Australia will lead growth output rates from until 2021, while major miners in the number one global producer, the Philippines, will benefit from the ousting of anti-mining minister Gina López from government, BMI Research analysts say.

World nickel production is expected to grow by an average 3.4% each year until 2021, the research arm of Fitch Group said in the report. However, production growth rates during the next five years will remain lower than the 5.3% average rates achieved between 2012 and 2016, they said, citing higher nickel prices experienced before the commodities slump as the main reason.

Some Indonesian nickel smelters cease operations due to falling prices (Reuters U.S. – June 19, 2017)

June 19, 2017

http://www.reuters.com/

About a dozen newly constructed nickel smelters in Indonesia have stopped operations due to a plunge in nickel prices while others are operating at a loss, an industry association executive said on Monday.

Thirteen smelters with a combined capacity of 750,000 tonnes of nickel pig iron a year “were forced to cease operation” because nickel prices reached as low as around $8,000 a tonne, Jonatan Handojo, deputy chairman of the Indonesian Smelter Association told Reuters, declining to name the owners of the smelters.

Three-month nickel touched a one-year low of $8,680 per tonne on the London Metal Exchange last week and is down more than 10 percent so far this year. The metal was trading at $8,975 per tonne on Monday at 0800 GMT.

Zinc, tin, nickel, platinum evoke most optimism at Junior Indaba – by Martin Creamer (MiningWeekly.com – June 8, 2017)

June 9, 2017

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – UK market intelligence firm CRU is most optimistic about the prospects for zinc, tin, nickel and, to a certain extent, platinum over a 12-month time horizon and named copper, bauxite, nickel and gold as good commodities to be in over the longer term.

CRU principal consultant Ben Jones told the Junior Indaba in Johannesburg on Thursday that he expected a divergence across bulk commodities and base metals. Jones formed part of a panel discussion led by Standard Bank mining head Sandra du Toit and participated in by Regarding Capital Management chairperson Piet Viljoen and Standard Bank mining research head Tim Clark.

Clark said heart had to be taken from the mining industry finding the bottom, after a period of cost cutting, and experiencing a rebound and a restart because the waning of supply had brought it into the present healthier state.

Low prices to pile more pressure on beleaguered nickel miners – by Melanie Burton and Cecile Lefort (Reuters U.S. – June 7, 2017)

June 7, 2017

https://www.reuters.com/

MELBOURNE/SYDNEY – Global nickel miners are coming under renewed pressure to cut costs or close capacity as a flood of cheap ore pushes prices to one-year lows, with analysts seeing little prospect of recovery.

Indonesia and the Philippines are ramping up shipments of nickel ore after Indonesia relaxed an ore export ban earlier this year and a hardline Filipino environmentalist was ousted from the country’s mining ministry. Nickel ore is popular as a cheaper alternative to refined metal for China’s vast steel mills, which use the metal to add strength to stainless steel.

The renewed supply comes as the market is already struggling with softening demand and high stocks, leading a slew of banks to slash their forecasts despite prices having already fallen 60 percent since mid-2014 80 percent from their 2007 peak.

COLUMN-Nickel facing a long and rocky road to price recovery – by Andy Home (Reuters U.K. – June 5, 2017)

June 6, 2017

http://uk.reuters.com/

LONDON, June 5 Nickel touched a near one-year low of $8,700 per tonne on the London Metal Exchange (LME) last week.

It has recovered a little to $8,900 this morning but that still makes it by some margin the worst performer among the major LME-traded industrial metals with a year-to-date decline of over 10 percent. And, if you believe Goldman Sachs, the stainless steel ingredient is going to stay at these bombed-out levels for a good while.

The Wall Street heavyweight has just downgraded its three-month, six-month and 12-month price forecasts to $9,000-per tonne from $12,500, $11,000 and $11,000 respectively.

Policy upheavals buffet mining in Philippines, Indonesia – by Cliff Venzon and Wataru Suzuki (Neikkei Asian Review – May 25, 2017)

May 26, 2017

http://asia.nikkei.com/

Governments and companies struggle for common ground amid shaky recovery

SANTA CRUZ, Philippines/JAKARTA — In the eyes of Diosdado Alota, chief of Guinabon village in the northwest Philippines, the mining industry is key to his community’s health.

Until the national government ordered a suspension of operations in 2014 over alleged river pollution, a nickel mine belonging to LNL Archipelago Minerals employed 80% of the village’s men and annually financed 3 million pesos ($60,000) worth of road work, streetlights and other infrastructure.

“These anti-mining [campaigners] ruined everything,” Alota said. “They say [mining] is destructive to the environment, but I believe natural resources are God’s gift to people.” Not all villagers agree with Alota’s view. On May 14, a number of them joined a group of 20 protesters for a Mother’s Day rally against mining in front of the town hall in nearby Santa Cruz, whose surrounding hills have been stripped of vegetation by miners.

Philippines struggles to balance environment, mining (Deutsche Welle – May 17, 2017)

May 17, 2017

http://www.dw.com/en/

The fight for environmental protection in the Philippines has faced a setback with the recent downfall of the Southeast Asian nation’s outspoken environment chief, Regina Lopez, who earned the ire of the mining industry after accusing it of corruption.

Even President Rodrigo Duterte, who enjoys widespread popularity, said he was helpless to save Lopez from being dismissed by a panel of lawmakers – the Commission on Appointments (CA) – scrutinizing her appointment. Duterte suggested “lobby money” influenced the decision.

Lopez was handpicked by the president to head the Department of Environment and Natural Resources (DENR), claiming that her passion for the environment made her a natural choice for the post. The president’s pick was widely applauded by environmental groups, but less by the business sector.

COLUMN-Nickel ore oversupply looms, threatening refined prices – by Clyde Russell (Reuters U.S. – May 11, 2017)

May 11, 2017

http://www.reuters.com/

May 11 It may be going from bad to worse for the nickel price, with conciliatory comments from the new mining minister in top ore producer the Philippines adding to the risks of the market being pushed into oversupply.

Former army general Roy Cimatu was appointed by Philippine President Rodrigo Duterte on May 8 to replace Regina Lopez, whose confrontational approach to mining won her friends among environmentalists but not among enough politicians, resulting in her dismissal by the Southeast Asian nation’s Congress.

Cimatu was cautious in initial comments to the media, in stark contrast to the firebrand approach of his predecessor, who shut down almost half the country’s mines, citing environmental breaches.

New Philippines environment minister says possible to balance mining, nature – by Manolo Serapio Jr (Reuters U.S. – May 9, 2017)

May 9, 2017

http://www.reuters.com/

MANILA – The Philippines’ new environment minister said it was possible to strike a balance between mining and protecting natural resources, but added that he needed time to assess mine closures ordered by his dismissed predecessor.

President Rodrigo Duterte this week named Roy Cimatu as replacement for staunch environmentalist Regina Lopez, a move welcomed by miners in the world’s top nickel ore producer but opposed by green groups who said he does not have a track record in conservation.

“There are countries where mining contributes a lot to the economy and environmentalists are not screaming,” Cimatu told Reuters in a phone interview on Tuesday. “I think it can be done … (balancing) environment (protection) and responsible mining.”

Philippines Duterte names ex-army general as environment minister – by Manolo Serapio Jr (Reuters U.S. – May 8, 2017)

May 8, 2017

http://www.reuters.com/

MANILA – Philippine President Rodrigo Duterte has appointed a former military man as the new environment minister after Congress dismissed his first choice, who ordered the closure of more than half of the mines in the world’s top nickel ore supplier.

Former army general and ambassador Roy Cimatu will take over from Regina Lopez, a move welcomed by miners who have questioned the legality of Lopez’s measures. But environmental group Greenpeace and the Catholic Church expressed doubts that Cimatu will carry on with any meaningful reforms.

“We are confident that Secretary Cimatu shall faithfully serve the interest of the country and the Filipino people in his capacity as the new DENR (Department of Environment and Natural Resources) Secretary,” Duterte’s spokesman Ernesto Abella said in a statement on Monday.

The French Election in the Pacific – by Grant Wyeth (The Diplomat – May 3, 2017)

May 3, 2017

http://thediplomat.com/

The outcome of the French presidential election has ramifications for Paris’ Pacific territories.

While the two-candidate runoff for France’s presidency this coming Sunday poses a potential existential threat for Europe, the result will also be of great significant for France’s overseas territories in the Pacific.

Although the territories of New Caledonia and French Polynesia have some levels of autonomy and their own elected assemblies, they legally remain part of France, and are therefore afforded the right to participate in France’s legislative and presidential elections. And they are, of course, also greatly affected by France’s election outcomes.

However, despite this right and the potential for a dramatic shift in the French state’s agenda should the National Front’s Marine Le Pen win the presidency, there seems to be general voter apathy, or a disconnect, within France’s Pacific territories.

Philippines environment minister ousted over anti-mining campaign – by Manolo Serapio Jr and Enrico Dela Cruz (Reuters U.S. – May 3, 2017)

May 3, 2017

http://www.reuters.com/

MANILA – Philippine lawmakers ended a 10-month crusade by Environment Secretary Regina Lopez on Wednesday, forcing out the eco-warrior whose mining crackdown was backed by the president but led to demands for her removal by miners.

The rejection of Lopez by the Commission on Appointments is final and a mining lobby group immediately said it would seek a reversal of her measures, while President Rodrigo Duterte’s office said he would respect the decision.

Lopez characterized her campaign as a fight against greedy miners who were threatening public health and damaging nature in a country better known for mountains and beaches than resources. The 63-year-old daughter of a media mogul who left her privileged Philippine life behind when she was a teenager, had ordered the closure of more than half of the mines in the world’s top nickel ore supplier and last week banned open-pit mining.

Sherritt surrenders equity share at Ambatovy to cut $1.4B in debt – by Andrew Topf (Mining.com – May 1, 2017)

May 2, 2017

http://www.mining.com

Canada-based nickel miner Sherritt (TSX:S) has struck a deal with its partners at the Ambatovy nickel operation in Madagascar, allowing the company to eliminate $1.4 billion in debt.

In a news release, the Toronto-based firm said it will reduce its stake in the joint venture from 40% to 12%, and remain the mine operator. The nickel-cobalt mine and processing facilities are expected to run until 2024.

“After months of negotiation, I am pleased to be able to announce a resolution which removes the largest area of uncertainty for both Ambatovy and Sherritt. With this transaction, we eliminate $1.4 billion in debt from Sherritt’s balance sheet, and maintain our exposure to Ambatovy with a clean 12 per cent interest and continuity as the operator,” CEO David Pathe said in a statement.

Philippine lawmaker says ’50-50 chance’ of Lopez losing environment minister job (Reuters U.S. – May 2, 2017)

May 2, 2017

http://www.reuters.com/

There is a 50 percent chance that Philippines Environment Secretary Regina Lopez may lose her confirmation vote after holding the position for nearly a year, said the head of the country’s Senate environment committee on Tuesday.

“It’s still a 50-50 chance for Gina,” Senator Manny Pacquiao, chairman of the committee, told reporters after Lopez gave testimony at a committee hearing, referring to the minister by her nickname.

Congressional confirmations in the Philippines typically happen months after ministers start work. President Rodrigo Duterte appointed Lopez on June 30, 2016. Lawmakers will vote on her fate on Wednesday.

Philippines bans open-pit mining as minister toughens crackdown – by Enrico Dela Cruz and Manolo Serapio Jr (Reuters U.S. – April 27, 2017)

April 27, 2017

http://www.reuters.com/

MANILA – Philippine Environment Secretary Regina Lopez said on Thursday she will ban open-pit mining in the country, toughening a months-long crackdown on the sector she blames for extensive environmental damage.

The ban comes just days before the outspoken environmentalist-turned-regulator faces a confirmation hearing in Congress that could lead to her removal as minister after a storm of complaints from pro-mining groups.

Lopez, who has already ordered the closure of more than half the country’s operating mines and has previously described open pit mines as “madness”, said it was within her prerogative to ban the practice, which is allowed under Philippines mining law.