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Nickel

BHP joins the lengthening list of nickel price casualties – by Andy Home (Reuters – July 16, 2024)

https://www.reuters.com/

LONDON, July 16 (Reuters) – Indonesia’s nickel production surge is crushing competitors and challenging the West’s ambitions of diversifying its critical metals supply chains. Australia’s BHP Group is the latest victim of a two-year price slump, which has seen London Metal Exchange three-month nickel tumble from an all-time high of $55,000 per metric ton in March 2022 to $16,650.

The world’s largest listed miner has announced it is suspending its Western Australia nickel operations from October. The decision was well flagged and probably made easier by the loss of feed from Wyloo Metals’ Kambalda mines, which were placed on care and maintenance in May, also due to low prices.

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Sudbury’s Stobie Pit Mine getting new life above ground (CBC News Sudbury – July 17, 2024)

https://www.cbc.ca/news/canada/sudbury/

Vale has partnered with First Nations, Steelworkers and an operator to start an open-pit mine at old site

What’s old is new. Vale Base Metals announced Wednesday it will start operations at an open-pit mine at the site of the old Stobie Mine in Greater Sudbury.

The $205 million project will be a partnership between Vale, Thiess Mining, United Steel Workers and local First Nations. It’s expected to produce 300,000 tonnes of ore, primarily nickel and copper, by the end of 2024. The previous Stobie Mine operated underground from 1914 to 2017, though it also began as an open pit mine in 1890.

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Indonesian onslaught wipes out Australia’s nickel industry – by Kristie Batten (Mining.com – July 14, 2024)

https://www.mining.com/

An influx of cheap nickel supply from Indonesia has all but killed off Western Australia’s long-running nickel sector. Nickel prices halved in 2023, dipping below $16,000 per tonne in December as surpluses widened. According to Benchmark Mineral Intelligence, Indonesia accounted for 49% of nickel production in 2023, up from less than 5% just eight years ago.

Nickel sector decimated

The impact on Australia’s nickel industry has been dramatic. ASX 200 producer IGO paid A$1.1 billion ($744 million) for nickel miner Western Areas in mid-2022. Just 18 months later, the entire value of the acquisition had been written off and the Cosmos development project was suspended, resulting in the loss of 400 jobs.

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BHP to Shut Australia Nickel Business as Glut Upends Market – by Paul-Alain Hunt, Thomas Biesheuvel, and Mark Burton (BloombergBNN News – July 11, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — BHP Group Ltd. will close its loss-making nickel business in Australia until at least early 2027, after a global glut of the metal spread havoc through the market.

The company will place its Nickel West business on “care and maintenance” from October due to low prices of the metal used in electric-vehicle batteries, it said in a statement Thursday. It will also halt the development of its West Musgrave nickel mine.

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Glencore warns of nickel job losses unless labour costs controlled – by Brad Thompson, Tom Rabe and James Hall (Australian Financial Review – July 12, 2024)

https://www.afr.com/

Global mining heavyweight Glencore says the future of its nickel and cobalt operations in Australia will hinge on keeping a lid on labour and energy costs and access to infrastructure.

In what shapes as another blow to Anthony Albanese’s critical minerals ambitions, Glencore warned it was closely monitoring the situation and the future of its Murrin Murrin mine in Western Australia, which employs about 1500 people and is the nation’s biggest source of cobalt.

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BHP’s Nickel West closure could mark end of Australian nickel industry, analyst says – by Emily JB Smith and Ethan French (Australian Broadcasting Corporation – July 11, 2024)

https://www.abc.net.au/

The closure of mining giant BHP’s nickel operations in Western Australia will have ripple effects far and wide and could signal “the end of the Australian nickel industry”, according to a prominent mining analyst.

BHP announced yesterday it would begin suspending operations at the Kwinana nickel refinery in Perth, the Kalgoorlie smelter and its major mines at Mt Keith and Leinster in the state’s Goldfields from October. BHP said market conditions were to blame for its decision to either redeploy or offer redundancies to 1,600 of its frontline workers, while hundreds more contractors would be impacted.

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Blood nickel: What electric-vehicle hunger has wrought, and how Canada can help – by Mark Selby (Globe and Mail – July 4, 2024)

https://www.theglobeandmail.com/

Mark Selby is the founder and CEO of Canada Nickel Co.

Blood diamonds, blood cobalt, and now blood nickel. Governments leading the global shift toward electric vehicles promise cleaner cities and a new era of sustainable energy and improved resource usage.

But just as governments promote EVs on environmental grounds, manufacturers are forced to source nickel from a region enabling the wanton destruction of ecologically sensitive lands, reckless treatment of workers, and the fundamental deterioration of living conditions. There is only one solution to this problem: the world needs more Canadian nickel.

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Vale Picks Mining Veteran Usmar to Lead Base Metals Turnaround – by Mariana Durao, Thomas Biesheuvel and Dinesh Nair (Bloomberg News – July 3, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Vale SA has selected veteran mining executive Shaun Usmar to take the helm of its base metals division as the Brazilian metals producer seeks to boost copper and nickel production, according to people familiar with the matter.

The board of the Rio de Janeiro-based company chose Usmar to head Vale Base Metals, said the people, who asked not to be identified because the information isn’t public. The appointment has yet to be confirmed and it’s possible things could change, one of the people said.

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Effort to ban nickel sales to Israel has pacifist intentions – by Tyler Clarke (Sudbury.com – June 29, 2024)

https://www.sudbury.com/

Retired Cambrian College mathematics instructor and longtime peace advocate David Starbuck is behind a petition which aims to ban the sale of Canadian nickel to Israel

Condemning the State of Israel’s sustained bombardment of Gaza, local man David Starbuck helped launch a federal petition to ban the sale of Canadian nickel to Israel. Nickel, he clarified in conversation with Sudbury.com, is used in armaments.

Through the local mining of nickel, there’s no telling how much the Greater Sudbury area has inadvertently aided in Israel’s “unrelenting Israeli assault on occupied Gaza,” as United Nations Human Rights Council special rapporteur Francesca Albanese put it earlier this year in finding reasonable grounds to determine Israel is committing a genocide against Palestinians in Gaza.

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Friedland, McEwen back Power Nickel’s “oversubscribed” $15m funding – by Cecilia Jamasmie (Mining.com – June 24, 2024)

https://www.mining.com/

Canadian explorer Power Nickel (TSX-V: PNPN) has closed its recent C$20 million ($15m) “oversubscribed” financing round, backed by well-known personalities including billionaire investor Robert Friedland and mining veteran Rob McEwen.

The Toronto-based junior said the funds will be use to expand exploration on its 80%-owned NISK property in Quebec, adding it hopes to take advantage of Canada’s federal tax credit for critical mineral exploration.

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Pro-Palestinian group in Sudbury wants Canada to ban nickel sales to Israel – by Staff (Sudbury Star – June 22, 2024)

https://www.thesudburystar.com/

Petition also targets those who sell arms to Israel; Israel’s supporters say it will do nothing to bring peace to the region

A pro-Palestinian group in Sudbury wants the federal government to ban the sale of Canadian nickel to Israel and the arms manufacturers supplying weapons to Israel.

The No Nickel For Genocide Working Group of Palestine Solidarity (Sudbury) has also launched a petition campaign to back its demands. Timmins-James Bay MP Charlie Angus launched the petition on the House of Commons website and in its first week, obtained more than 200 signatures, the group said in a release.

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Indigenous company lands Sudbury mine project contract – by Ian Ross (Northern Ontario Business – June 17, 2024)

https://www.northernontariobusiness.com/

Aki-eh Dibinwewziwin LP awarded advanced exploration contract for Magna Mining’s Crean Hill Project

Sudbury’s Magna Mining decided to buy local in picking an Indigenous contractor to extract a bulk sample from its emerging Crean Hill nickel and copper mine project.

Aki-eh Dibinwewziwin Limited Partnership (ADLP) has been awarded an advanced exploration contract that involves pulling a 20,000-tonne surface bulk sample that’s part of Magna’s early test mining scheduled for later this year. The sample will be trucked to Glencore’s Strathcona mill in Sudbury for processing.

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The Big Nickel scandal of 1916 – by John Sandlos (Canadian Mining Journal – June 16, 2024)

https://www.canadianminingjournal.com/

In 1854, the land surveyor A.P. Salter noticed the needle on his compass wiggle in strange way, a signal that the bedrock on which he stood contained a huge deposit of nickel (one of the few ferromagnetic minerals that affects the orientation of old-school magnetic compasses).

Owing to its remoteness, Salter’s discovery was ignored at the time and soon forgotten. The construction of the Canadian Pacific Railway through the Sudbury basin in the early 1880s brought an influx of newcomers and a transportation link to the region.

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Federal minister bullish on Greater Sudbury’s future – by Jim Moodie (Sudbury Star – June 12, 2024)

https://www.thesudburystar.com/

Jonathan Wilkinson says city in a position to provide critical minerals but also process them to help make batteries for electric vehicles

The Nickel City is in a great position to benefit from the push for greener transportation, not only by supplying the ingredients for batteries but also by hosting plants to process them, according to Canada’s energy and natural resources minister.

“For a community like Sudbury, which is an historic mining town, I think that critical minerals are an enormous opportunity,” said Jonathan Wilkinson during a visit to the city on Monday. “It’s an opportunity for mining, yes, but it’s also an opportunity for great manufacturing jobs.

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Researchers get $5M to find nickel, other metals, in Sudbury mine waste – by Staff (Sudbury Star – June 10, 2024)

https://www.thesudburystar.com/

The idea is they can be used to help make batteries for electric vehicles while reducing the environmental impact of tailings areas

A research arm of Laurentian University will get $5 million to find ways of recovering nickel, cobalt and copper from mine waste in Sudbury that can be used to make batteries for electric vehicles. Jonathan Wilkinson, the federal minister of Energy and Natural Resources, made the announcement in Sudbury on Monday.

The money will go to the Mining Innovation Rehabilitation and Applied Research Corp – or MIRARCO – based at Laurentian University.

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