(Bloomberg) — Nickel rallied to the highest in more than a decade as dwindling exchange inventories leave traders bracing for a historic supply squeeze.
In a sign that traders are scrambling for spot supplies, cash contracts traded at the widest premium to three-month futures since 2007 on the London Metal Exchange on Thursday.
Under the deal, Tesla would buy about half of Tamarack Mine’s projected production.
Talon Metals, the company behind a proposed Minnesota nickel mine, said Monday it has made a major supply deal with Tesla.
The electric vehicle giant has committed to buy 75,000 metric tons of nickel concentrate over six years from Talon’s planned mine in Tamarack, about 50 miles west of Duluth. Tesla would also have rights to go above that amount.
BHP will invest up to $100m in Kabanga Nickel and has rights to make further investments in a major boost to the Tanzanian firm’s mine development plans.
If BHP invests the full $100m it will have a 17.8% stake in Kabanga Nickel valuing the Kabanga project at $658m. Describing itself as owning the world’s largest mine-ready nickel sulphide mine in the world, Kabanga Nickel is set to produce its first concentrate in 2025.
https://www.theglobeandmail.com/
Wyloo Metals Pty Ltd., the winner of a fierce bidding war for Noront Resources Ltd., hopes to have a large nickel mine in operation in the Ring of Fire, and an access road built into the remote minerals district in northern Ontario, within five years.
Earlier this week, BHP Group Ltd. said it was not willing to improve upon Wyloo’s offer of $617-million ($1.10 a share) for Noront, ending a seven-month battle. Wyloo, a private equity firm based in Perth, Australia, that specializes in investing in large resource projects, is backed by billionaire Andrew Forrest, founder of iron ore giant Fortescue Metals Group.
https://www.northernontariobusiness.com/
Australian mining investor expects to develop ‘Canada’s next great mineral district’
Wyloo Metals’ looming acquisition of Noront Resources and its James Bay region mineral assets is being called a “significant milestone” that “paves the way” for new leadership to “responsibly develop” the Ring of Fire.
The Perth, Australia-headquartered said in a news release that it plans to enter into a binding agreement with Noront’s board and will provide Noront shareholders with more information at a special meeting in early January to vote on a plan of arrangement.
Dec 22 (Reuters) – The United States has enough reserves of lithium, copper and other metals to build millions of its own electric vehicles (EVs), but rising opposition to new mines may force the country to rely on imports and delay efforts to electrify the nation’s automobiles.
The tension underscores the dilemma facing the United States going into 2022, a year in which U.S. policymakers hope to see groundbreakings on a raft of EV manufacturing facilities from Ford Motor Co(F.N), General Motors Co(GM.N) and others.
TORONTO and MELBOURNE, Australia, Dec. 21, 2021 /CNW/ – BHP Lonsdale Investments Pty Ltd (“BHP Lonsdale”), a wholly owned subsidiary of BHP, today announced that it will not increase or extend its offer for Noront Resources Ltd. (“Noront”).
BHP Chief Development Officer, Johan van Jaarsveld, said: “BHP is committed to its strict capital discipline framework. While the Eagle’s Nest deposit is a promising resource, we do not see adequate long-term value for BHP shareholders to support an increase in BHP’s offer in order to match the C$1.10 per share proposal from Wyloo Metals Pty Ltd.”
Global plans for decarbonisation are driving massive growth in electric vehicle uptake, but production of key battery metal comes with a problematic carbon footprint of its own
While there is no doubt that electric vehicles (EVs) will play a significant role in our global transition to net zero, the sector is facing a tricky conundrum that must be resolved: global decarbonisation will depend on an extensive transition across the world to the use of EVs, and the batteries that EVs use will require large volumes of refined nickel.
However, the mining and refining of nickel is itself affected by a number of important ESG issues, including a large carbon footprint.
https://www.cbc.ca/news/canada/new-brunswick/
Former premier, Innu and Inuit officials say negotiating a deal is better than legal showdown
As the New Brunswick government and the Wolastoqey Nation prepare for what could be a decade-long legal battle over Aboriginal title, an alternative approach is continuing to unfold on the eastern edge of Atlantic Canada.
In Labrador this week, the owners of the Voisey’s Bay nickel mine have halted marine shipping to and from the mine, just as they do every year on Dec. 6. It’s part of an agreement to minimize the breaking up of winter ice by ships so that Inuit and Innu hunters can cross that ice to harvest in their traditional territories.
James E. Churchill believes that telling the history of Monel and renewing the scientific data will empower conservators to educate and preserve key metallurgical heritage.
In 2019 I was introduced to a material I had only heard of in passing, Monel®*. Having previously come across it through the wrought craft of Samuel Yellin, a field trip to the southern tip of Manhattan placed me in front of a gleaming Monel elevator in an art-deco lobby. My interest was piqued. What was this alloy, how was it used and was it still popular?
In an attempt to hunt down interiors, I found redevelopment of department stores and banks, where the metal had flourished, had sadly led to total loss. I also discovered I was not alone in my ignorance.
TORONTO, Dec. 14, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. (“Noront” or the “Company”) (TSXV: NOT) announces that it has received a non-binding letter dated December 12, 2021, and related draft arrangement agreement and other ancillary transaction documents (collectively, the “Transaction Documents”), from Wyloo Metals Pty Ltd and Wyloo Canada Holdings Pty Ltd (together, “Wyloo Metals”) in respect of the Updated Wyloo Proposal (as defined below).
The Transaction Documents outline, among other things, the terms and conditions upon which Wyloo Metals would be prepared to acquire all of the common shares of Noront not already owned by Wyloo Metals for cash consideration of C1.10 per common share of the Company (the “Updated Wyloo Proposal”). The Updated Wyloo Proposal is subject to, among other things, negotiating and executing definitive Transaction Documents with Wyloo Metals.
The richest man in the world does not own a house and has recently been selling off his fortune. He tosses satellites into orbit and harnesses the sun; he drives a car he created that uses no gas and barely needs a driver.
With a flick of his finger, the stock market soars or swoons. An army of devotees hangs on his every utterance. He dreams of Mars as he bestrides Earth, square-jawed and indomitable. Lately, Elon Musk also likes to live-tweet his poops.
“Just dropping some friends off at the pool,” the 50-year-old zillionaire informed his 66 million Twitter followers on the evening of Nov. 29, having previously advised that at least half his tweets were “made on a porcelain throne.” After an interval—21 minutes, if you must know—an update: “Splish splash.”
PERTH (miningweekly.com) – Federal Minister for Resources and Water Keith Pitt has applauded work done by Geoscience Australia in discovering the largest nickel sulphide discovery in Australia in over two decades.
ASX-listed Chalice Mining this week announced a maiden indicated and inferred mineral resource estimate of 10-million ounces palladium/platinum/gold, 530 000 t of nickel, 330 000 t of copper, and 53 000 t of cobalt at its Gonneville deposit, which makes up part of its larger Julimar project, in Western Australia.
Andrew Forrest’s private resources company Wyloo Metals has launched a third bid for Canadian nickel hopeful Noront Resources, after talks between Wyloo and rival bidder BHP failed to reach a compromise.
Wyloo has lifted its bid to $C1.10 a share, 47 per cent above the C75¢ bid BHP made in October. alks between BHP and Wyloo, which has a 37.2 per cent stake in Noront, had been running for about a month. Head of Wyloo Metals, Luca Giacovazzi, described the discussions as constructive but ultimately unsuccessful.
PERTH, Australia, Dec. 12, 2021 (GLOBE NEWSWIRE) — Wyloo Metals Pty Ltd (“Wyloo Metals”) has today provided the board of Noront Resources Ltd. (TSXV: NOT) (“Noront”) with a letter outlining a further improved offer to acquire up to 100% of the shares in Noront that it does not already own for Cdn$1.10 per share (the “Revised Wyloo Offer”). This is 47% above the Cdn$0.75 per share offered under the take-over bid for Noront proposed by BHP Western Mining Resources International Pty Ltd (“BHP”).
The Revised Wyloo Offer is the only proposal to Noront shareholders that provides the following distinguishing features:
