Nickel Laterites – Page 42 – Republic of Mining

Philippines’ Duterte says nation can survive without mining companies – by Manola Serapio Jr. and Enrico Dela Cruz (Reuters U.S. – August 1, 2016)

August 2, 2016

http://www.reuters.com/

MANILA – Philippine President Rodrigo Duterte on Monday warned mining companies to strictly follow tighter environmental rules or shut down, saying the Southeast Asian nation could survive without a mining industry.

“We will survive as a nation without you,” Duterte told a media briefing, referring to the country’s miners. “Either you follow strictly government standards or you close down.”

It was the boldest statement yet from Duterte against domestic miners that he warned in the weeks before he took office on June 30 to “shape up” and to “stop spoiling the land.” The Philippines has so far suspended the operations of seven domestic nickel mines for failure to comply with environmental regulations.

Eramet sees progress in nickel rescue plan, shares slide – by Gus Trompiz and Joseph Sotinel (Reuters U.S. – July 28, 2016)

July 28, 2016

http://www.reuters.com/

French mining group Eramet says in results presentation on Thursday that a mix of cost savings, divestment and extra financing including a convertible bond issue will help its nickel unit in New Caledonia stem heavy losses.

Chairman and Chief Executive Patrick Buffet says planned 100 million euros convertible bond issue “is part of measures to return as soon as possible to positive cashflow” at New Caledonian nickel unit SLN.

Says bond issue will support financing after announcement of 200 million euro ($221.76 million) French government loan to SLN, and Eramet’s own commitment to lend up to 325 million euros to SLN up to 2018.

UPDATE 1-Philippines will not allow Tampakan mine to operate as open-pit -minister (Reuters U.K. – July 27, 2016)

July 27, 2016

http://uk.reuters.com/

The Philippine minister in charge of mining said she will not allow the $5.9 billion Tampakan gold and copper mine in southern Mindanao island to operate as an open-pit site and vowed to shut more operations causing environmental destruction.

The Tampakan project is the biggest stalled mining venture in the Southeast Asian country, failing to take off after the province where it is located banned open-pit mining in 2010. Commodities giant Glencore Plc quit the project last year.

“I will not allow the Tampakan project,” Regina Lopez told reporters, as long as it is planned as an open-pit mine. She said all permits given to the project will be reviewed “but we will observe due process”. Officials at Sagittarius Mines Inc, owned by local investor Alcantara Group, which has control of Tampakan, did not immediately respond to requests for comment.

Sherritt International Corp says more than 60% of global nickel output underwater despite recent price rally – by Peter Koven (Financial Post – July 27, 2016)

July 27, 2016

http://business.financialpost.com/

TORONTO — Nickel prices have jumped almost 40 per cent since bottoming out in January, yet most miners of the steelmaking metal are still bleeding cash at a rapid rate.

Canadian nickel miner Sherritt International Corp. noted this week that more than 60 per cent of global output is losing money on a simple cash margin basis. Once capital spending and other costs are added in, the actual percentage of production underwater is even higher.

The nickel price rally has accelerated over the last few weeks, which has injected some hope back into the industry. But Sherritt’s disclosure shows that the sector is still in the midst of a severe crisis. Nickel is currently worth about US$4.69 a pound, compared to a peak of more than US$24 in 2007.

More mining firms to undergo review over alleged violations – by Louise Maureen Simeon (PhilStar.com – July 26, 2016)

July 26, 2016

http://www.philstar.com/

MANILA, Philippines — Environment Secretary Gina Lopez has bared a new list of mining companies that would undergo extensive review following complaints from the indigenous people of Mindanao.

Lopez had a dialogue with the Lumads of Mindanao Sunday afternoon to hear their sentiments. “I met with them and they wanted to stop large-scale mining in their provinces. And they were very explicit to the names [of the companies],” she said.

In a phone interview with The STAR, Lopez said the Lumads revealed eight mining firms that are allegedly committing environmental and social violations. One of which is Canadian-owned TVI Resource Development Philippines Inc. in Zamboanga del Norte which is being reviewed over alleged “human rights violation causing demolition and forced evacuation.”

Philippines’ House Speaker wants Congress to license new miners (Reuters U.K. – July 25, 2016)

July 25, 2016

http://uk.reuters.com/

The Philippines’ newly elected House Speaker said on Monday he wants new mining companies to get a legislative license before they are allowed to operate in the country as part of efforts to protect the environment.

Pantaleon Alvarez, a close ally of President Rodrigo Duterte, also said he will revive a proposed measure that will require miners to process their ores locally before they are shipped overseas to help create jobs domestically.

“Their activities would be subject to legislative oversight and their franchises can be revoked by the oversight body… if they violate the terms and conditions (of the franchise),” Alvarez said in a speech after he was elected speaker on Monday.

UPDATE 1-Philippine minister asks Nickel Asia to halt Manicani ore exports to China – by Enrico dela Cruz and Julian Elona (Reuters U.S. – July 20, 2016)

July 20, 2016

http://www.reuters.com/

MANILA, July 20 The Philippine mining minister said on Wednesday she has asked Nickel Asia Corp to stop shipping nickel ore to China, citing environmental concerns at the company’s mine on an island along the country’s eastern central edge.

The move follows a government audit of Nickel Asia’s operations on Manicani island, where the country’s top nickel producer has stockpiled an estimated 1.4 million tonnes of ore from a closed mine.

The audit found that Nickel Asia was taking out too much soil in its Manicani hauling operations and shipping it to China along with the ore, Environment and Natural Resources Secretary Regina Lopez told reporters after speaking at a business forum.

Philippines flips the pig nickel finger at China – by Robert Gottliebsen (The Australian – July 20, 2016)

July 20, 2016

http://www.theaustralian.com.au/

We are now seeing the first repercussions of the fact that the disputes between China and the Philippines extend beyond the South China Sea — the nickel price is on the rise following nickel mine shutdowns ordered by the Philippine government.

Last night, nickel edged up to a one-year peak of $US4.81 a pound. While last night’s price is a far cry from the heady days when nickel was above $US10 a pound, it still represents a rise of almost 15 per cent from the $US4.20-a-pound level where nickel traded just a month ago.

While the outlook for all the base metals is improving, the shut down of key nickel mines in the Philippines has given a real boost to the nickel market at the expense of China.

Glencore reveals tax payout – by Staff (Sudbury Star – July 16, 2016)

July 18, 2016

http://www.thesudburystar.com/

Glencore paid the government of Canada $5.65 million US in taxes last year for its Sudbury Integrated Nickel Operations. The figure is contained in a report released by the miner called Glencore: Payments to Government 2015.

Glencore is one of the world’s largest global diversified natural resource companies, and a major producer and trader of more than 90 commodities, it says on its website. In Sudbury, Glencore operates two underground nickel-copper mines: Nickel Rim South, which the company says is Sudbury’s largest mining operation, and Fraser Mine.

Its Strathcona concentrator receives ore from those two mines and from third-party custom feed ores, and produces two concentrate streams, a nickel-copper concentrate that goes to the Sudbury smelter and a copper concentrate that goes to Glencore Copper for smelting and refining.

Philippines says it suspends a nickel miner in Palawan (Reuters U.S. – July 17, 2016)

July 18, 2016

http://www.reuters.com/

The Philippines has suspended a third nickel mine in less than two weeks and again warned miners not to violate environmental laws, the cabinet secretary overseeing mining told a radio station.

Regina Lopez, secretary of the Department of Environment and Natural Resources, told the Manila station DZMM on Saturday a suspension order was slapped on Friday on Berong Nickel Corp’s mine on Palawan because of a spill that affected corals.

Palawan, in the southwest Philippines, has become popular with tourists in recent years. Lopez said while the spill was not intentional, company authorities “really need to get their act together”. She described Palawan as “the number one (tourist) island destination in the entire planet”.

Metals rebound restores some luster to lowly zinc and nickel – by Peter Koven(Financial Post – July 15, 2016)

July 15, 2016

http://business.financialpost.com/

After many months in the gutter, two of the world’s least-loved metals are enjoying an honest-to-goodness turnaround.

Zinc and nickel are both soaring this summer after recovering from shocking depths early in the year. Zinc touched US$1.00 a pound on Thursday for the first time since mid-2015, while nickel jumped to a nine-month high of US$4.73 a pound. Zinc is up 48 per cent from its January low, and nickel is up 38 per cent in the same period.

These moves were a long time coming. For the past two years, experts have been warning of major supply-side problems in these markets and predicting that rallies were inevitable. It took a while for them to materialize, in part because of high inventories. And now that they are finally here, there is debate about whether they are sustainable.

A Loss For China And A Win For Russia In The Philippines – by Tim Treadgold (Forbes Magazine – July 14, 2016)

July 14, 2016

http://www.forbes.com/

Russia is a likely winner from changing government policy in the Philippines just as the South East Asian country emerges as a thorn in the side of China.

The problem between China and the Philippines is well understood and relates to disputed territorial claims by China to a vast area of the South China Sea that is close to other countries, including the Philippines, Vietnam and Malaysia.

Earlier this week an international disputes court in the Netherlands found against China and in favor of a case taken by the Philippines against the Chinese claims which are based on ancient history and modern “island building”.

Scant short term impact seen on nickel from Philippine mine crackdown – by Manolo Serapio Jr and Eric Onstad (Reuters U.S. – July 13, 2016)

July 13, 2016

http://www.reuters.com/

MANILA/LONDON, July 13 An environmental crackdown on Philippine mines, which helped drive nickel prices to eight-month highs, is likely to have only a muted impact on exports to China in the short term because the biggest mines have met guidelines, experts said.

The Philippines is the biggest exporter to top metals consumer China of nickel ore, used to make stainless steel. A smattering of smaller mines are likely to be affected in coming months and new mines will probably face tough going in the future, but the review of the mining sector is not likely to result in a quick drop in shipments.

“The Chinese think the Philippines will continue exporting ore to China and only some small mines will be affected. They’re not worried about the situation at the moment,” said Peter Peng, analyst at CRU consultancy in Beijing.

Nickel at 9-month high on Philippine environmental fears – by Neil Hume (Financial Times – July 12, 2016)

July 12, 2016

https://next.ft.com/

Nickel has powered to its highest level since October 2015 as investors become increasingly concerned about an environmental crackdown in the Philippines. The Philippines has emerged as the top supplier of nickel ore to China since Indonesia banned exports of unprocessed raw materials in 2014, writes Neil Hume.

It was the largest producer of mined nickel globally last year, accounting for 465,000 tonnes, or 22 per cent of global output, and 97 per cent of total ore imported in China, according to Standard Chartered. Filipino is used by Chinese mills to produce nickel pig iron, a cheap alternative to refined nickel.

Those supplies could now be in danger after the new president of the Philippines Rodrigo Duterte ordered a review of the country’s mining industry.

[Philippines mining] Lopez orders mining audit – by Louise Maureen Simeon (The Philippine Star – July 12, 2016)

July 11, 2016

http://www.philstar.com/

MANILA, Philippines – Newly-installed Environment Secretary Gina Lopez yesterday issued her first memorandum order which covers the extensive audit of all mines as well as the moratorium on new mining projects.

Based on memorandum 2016-01, all operating and suspended mines will be subject to an audit to determine the adequacy and efficiency of the environmental protection measures, identify gaps in protection measures and determine appropriate penalties in case of violations.

The moratorium, on the other hand, shall cover the acceptance, processing and approval of applications and projects for all metallic and non-metallic minerals.