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Nickel

Mining foe: No. No matter what; Twin Metals project, MINER Act injected into Joint Powers meeting – by Tom Coombe (The Ely Echo – December 8, 2017)

http://www.elyecho.com/

An item that wasn’t even on the agenda stirred some of the most passionate discussion at Monday’s sit-down with area legislators and other key officials.

One of the area’s leading opponents of copper-nickel mining, Ely business owner Steve Piragis, declared that he’d continue to oppose the Twin Metals Minnesota project even if federal regulators conclude it would “meet or exceed” current environmental standards.

That came during a mini-debate with Aurora Mayor-Elect Dave Lislegard and was spawned by discussion of the MINER Act, legislation approved just days earlier by the U.S. House of Representatives. As the bill advanced by U.S. Rep. Tom Emmer (R-MN) awaits action in the Senate, Elyite Becky Rom railed against it in an appeal to aides of both U.S. Sen. Al Franken (D), and U.S. Sen. Amy Klobuchar.

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Vale cuts nickel output but is positive on long-term demand – by Christian Plumb (Reuters U.S. – December 6, 2017)

https://www.reuters.com/

NEW YORK (Reuters) – Brazilian miner Vale SA dialed back its nickel output forecasts for the next five years on Wednesday, although the world’s top producer of the metal praised its longer term prospects on likely soaring demand for electric cars.

Vale cut its nickel output estimate by 15 percent to 263,000 tonnes next year and said it was still seeking an investor for its New Caledonia nickel mine.

However, Vale wants to “preserve its nickel optionality” ahead of an expected boom in electric vehicles in the next decade, said Jennifer Maki, executive director of Vale’s base metals unit, at an annual investor presentation in New York.

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Electric charge: Glencore bets big on car battery metals – by Barbara Lewis and Maiya Keidan (Reuters Canada – December 5, 2017)

https://ca.reuters.com/

LONDON (Reuters) – Glencore (GLEN.L) has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards.

The Anglo-Swiss company’s output of cobalt and copper roughly doubled in the five years to 2016, while its production of nickel quadrupled, the research compiled for Reuters by S&P Global Market Intelligence shows. (Graphic: Glencore’s mining production – tmsnrt.rs/2zOQTgo)

Electric vehicle metals account for roughly 50 percent of Glencore’s core profit, more than double the proportion of its major listed competitors – BHP (BLT.L) (BHP.AX), Rio Tinto (RIO.L) (RIO.AX) and Anglo American (AAL.L).

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Electric vehicle revolution a rare investment opportunity as metals demand spikes – by Henry Lazenby – December 1, 2017)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – The rate at which global automotive markets are adopting electric vehicles (EVs) is accelerating at a much faster pace than even some of the keenest market observers estimated at the start of 2017, and is opening up once-in-a-lifetime investment opportunities among the four key ‘energy metals’ – lithium, cobalt, nickel and graphite.

Since the beginning of 2017, the market has reached a new peak of lithium-ion battery capacity in the pipeline. An additional 153 GWh has been added to planned capacity build-outs this year alone, taking the total to 372 GWh.

“But when you look at where we need to be by 2025 – 750 GWh, of which 645 GWh is for EVs – we are still way short. What the megafactory trend is doing, however, is creating a new production base that did not exist before.

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Meet the woman drumming up resistance against mining companies and future typhoons in the Philippines – by Sophie Morlin-Yron (The Ecologist – December 1, 2017)

https://theecologist.org/

SOPHIE MORLIN-YRON talks to activist and former Philippine environment secretary Gina Lopez about banning open-pit mines, battling climate change and winning the 2017 Seacology Prize

Comprising some 7,000 islands in the tropical Western Pacific, the Philippines prides itself as one of the most biodiverse places on earth. Among the archipelago’s many endemic species are several flying frogs, the Philippine mouse deer and the endangered Philippine eagle, also called the monkey-eating eagle.

Its atolls and turquoise waters hide natural treasures too. For example, the spectacular Tubbataha Reefs Natural Park, a World Heritage Site, is 130,028 hectares of beautiful lagoons and coral islands where rare birds and marine turtles come to nest.

“We are a country of beautiful volcanoes, mountains, rivers, and corals. It’s absolutely spectacular,” says Regina ‘Gina’ Lopez, who was the winner of the 2017 Seacology Prize in recognition of her environmental advocacy, which among many other things has led to a ban on open-pit mining.

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‘Miner’s Revenge’ Is Coming With Electric Cars, Friedland Says – by Thomas Wilson (Bloomberg News – November 30, 2017)

https://www.bloomberg.com/

Surging demand for metals like copper, nickel and cobalt for use in electric vehicles promises to overturn the balance of power between mining companies and their customers, according to billionaire investor Robert Friedland.

Automakers will have to change the way they approach procurement if they want to power their vehicles, said Friedland, who as a student befriended Steve Jobs before a career backing major discoveries from Canada to Mongolia.

“Coming soon to a theater near you: this is the revenge of the miner,” said Friedland. “No miner is willing to sell a high-volatility metal to a car manufacturer at a fixed price.”

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Controversial measures to clear way for more Minnesota mining spark debate in U.S. House – by May Rao (Minneapolis Star Tribune – November 29, 2017)

http://www.startribune.com/

WASHINGTON – Two controversial measures from Minnesota congressmen, both of which would ease the way for mining expansion in northeastern Minnesota, have divided the state’s congressional delegation while spurring a broader environmental debate in the U.S. House.

The House on Tuesday passed legislation by DFL Rep. Rick Nolan that would finalize a land exchange between the U.S. Forest Service and PolyMet Mining. Nolan said his bill is key to advancing PolyMet’s proposed northeastern Minnesota copper-nickel mining project, with 6,690 acres of private land becoming public while 6,650 acres of contiguous forest and wetlands would fall under PolyMet’s control.

“This bill is a win for taxpayers, for the environment, and for good-paying jobs,” Nolan said. Other prominent DFLers, including Gov. Mark Dayton, have supported Nolan’s proposal, although it does not currently have a companion bill in the U.S. Senate.

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Nickel slides to six-week low on deteriorating fundamentals (Australian Financial Review/Reuters – November 29, 2017)

http://www.afr.com/

Nickel prices hit their lowest level in more than six weeks on Tuesday as the market fretted about weaker demand in top consumer China and rising supplies from major producer Indonesia.

Benchmark nickel on the London Metal Exchange ended down 1.9 per cent at $US11,350 a tonne. In earlier trading the metal used mostly in stainless steel fell to $US11,255, its lowest since October 12.

Copper slipped 2 per cent to $US6805, aluminium fell 1.5 per cent to $US2102.5, zinc lost 0.9 per cent to $US3158, lead ceded 1.5 per cent to $US2427 and tin was down 0.1 per cent at $US19,550.

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Staking out a future: Thompson adjusts as mining industry slows – by Brett Purdy (CBC News Manitoba – November 28, 2017)

http://www.cbc.ca/news/canada/manitoba/

Vale still largest employer in Thompson but other industries helping develop diverse economy

Rajinder Thethy has put almost $750,000 in his carwash business in Thompson, Man., and it’s investments like his the northern city is banking on to help stabilize — and build — the economy as the local mining industry slows.

Thethy, who has lived and worked in Thompson for 22 years, originally built the carwash with some partners back in 2004 as a side gig. He was a professional accountant at the time. But in January 2016, he decided he wanted a major career-and-life change and to be more devoted as a business owner.

“I know what the Thompsonites need so for me to stay here and expand my business just made perfect sense,” he said.

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[Sudbury’s Creighton Mine] The Greatest Nickel Mine in the World (MACLEAN’S MAGAZINE – January 1, 1910)

Creighton Mine, Sudbury Ontario. The mine which started operation in 1901 and is still in production. It is the deepest mine in the Sudbury Basin and among the four deepest in the country. (Wiki Photo)

http://www.macleans.ca/

A description of what is claimed to be the greatest nickel mine in the world appears in East and West. The mine is located at Creighton, about twelve miles west of Sudbury. Creighton Mine is very widely famed, being, indeed, the greatest nickel ore deposit known in the world. It is claimed that about two-thirds of the whole world’s supply of nickel is mined there.

So that, when we consider that by far the greater part of nickel used at the present time is utilized in making armor-plating for the great battleships, we begin to understand how dependent the little population of Creighton is upon the aggressive naval policies of the powers of Europe, and the other ambitious nations of the present day.

Electrical power is used in mining, transmitted from the High Falls, about twenty miles west. The power house, with its motors, powerful apparatus, is an interesting spot for anyone who likes machinery. The warehouse and office building is of red brick and is spacious and well lighted.

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RNC to double nickel output at WA mine, resumes talks for Quebec project – by Mariaan Webb (MiningWeekly.com – November 28, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – TSX-listed RNC Minerals has said it plans to double nickel production from its Beta Hunt mine, with production of four-million pounds of contained nickel forecast for 2018.

RNC Minerals is ramping up gold production at the Beta Hunt mine in Western Australia’s Kambalda mining district, with gold production expected to reach an annualised rate of 70 000 oz/y by the end of 2017.

President and CEO Mark Selby said on Monday that the mine provided good optionality from both gold and nickel production. “With the much larger scale in gold production, versus a standalone nickel mine, nickel production can be added at much lower cost compared to many other nickel producers in Western Australia,” he said.

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The whizz of Oz: Australia is the new frontier for battery minerals (The Economist – November 23, 2017)

https://www.economist.com/

China’s electric-vehicle industry is piling in, as are speculators

FORGET the “resource curse”. Australia is blessed with the stuff. For more than a quarter of a century it has not had a recession, thanks largely to Chinese demand for its raw materials.

It is only a few years since the end of one such China-led boom, in base metals such as iron ore. A new speculative flurry has started in minerals such as lithium, cobalt and nickel to feed another China-related craze—making batteries for electric vehicles (EVs).

Ken Brinsden, an Australian mining engineer, says he pinches himself over these remarkable turns of fortune. Until 2015 he was a boss at Atlas Iron, which shipped low-grade iron ore to China. In 2011, at the height of the China-led supercycle, it had a valuation of A$3.5bn ($3.8bn).

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RPT-GRAPHIC-Nickel rally stalls, electric car boost some years away – by Pratima Desai and Eric Onstad (Reuters U.S. – November 24, 2017)

https://www.reuters.com/

LONDON, Nov 24 (Reuters) – A recognition that electric vehicles (EVs) are unlikely to move the nickel demand dial for some years, slowing demand from China’s stainless steel mills and rising supplies have halted a frenzied price rally and are likely to keep weighing on prices.

Benchmark nickel on the London Metal Exchange soared by 50 percent from mid-June to a two-year peak of $13,030 a tonne on Nov. 1, based largely on expectations of strong demand to make the rechargeable batteries used to power EVs.

Since then the price has eased back to about $12,000. Wood Mackenzie analysts estimate nickel demand in EV batteries will rise to about 220,000 tonnes in 2025 from about 40,000 tonnes last year.

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Russian Metals Billionaires Hope for Peace as ‘Shoot Out’ Looms – by Jack Farchy and Yuliya Fedorinova (Bloomberg News – November 22, 2017)

https://www.bloomberg.com/

A shoot out is looming in Russian metals. That isn’t a reference to the industry’s blood-soaked history, but to a clause in a hard-won peace deal between two billionaire shareholders of MMC Norilsk Nickel PJSC, Russia’s largest miner.

The 2012 agreement between Oleg Deripaska’s United Co. Rusal and Vladimir Potanin’s Interros Holding Co. provides a mechanism by which one man can buy out the other’s stake in Nornickel. That mechanism is called a “shoot out,” and becomes possible after a five-year lock-up period expires on Dec. 10, according to a Rusal letter to shareholders published in 2014.

Potanin, one of Russia’s richest men with an $18 billion fortune, told Bloomberg he has no immediate plans to initiate the so-called shoot out — a forced auction where the loser must sell his stake to the winner.

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Tesla Truck Supercharges Hopes for Boom in Battery Metals Demand – by Mark Burton (Bloomberg News – November 17, 2017)

https://www.bloomberg.com/

Tesla Inc.’s plans to roll out an all-electric big rig have given a fresh jolt to the outlook for battery metals that will go into powering the truck founder Elon Musk is calling “The Beast.”

Banks including Goldman Sachs Group Inc., UBS Group AG and Bank of America Corp. are already forecasting a surge in demand for battery metals like nickel as sales of electric cars ramp up over the next decade. Usage could jump even higher if trucking firms start switching diesel fleets for battery-powered ones.

“This is a game changer,” said Anthony Milewski, chairman and chief executive officer of Cobalt 27 Capital Corp., an investment vehicle providing price exposure to a stockpile of cobalt, which has spiked in the past year in response to booming projections for usage in electric vehicles.

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