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Indonesia Rule on Nickel Helps Playfair Mining in Norway

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Source: Bob Moriarty for Streetwise Reports 12/01/2019 Bob Moriarty of 321gold discusses the Indonesian government’s actions in the nickel market and how they might affect a company with a project in Norway. As the world’s largest producer of nickel, the actions of the Indonesian government not only affect those companies working in Indonesia but also half way around the world. In 2014 the country restricted the export of nickel concentrate in an effort to force producers to construct smelting plants in the country. As a result production dropped from 400,000 tons a year to 100,000. In 2017, Indonesia relaxed the export regulations on the export of low-grade nickel in an effort to stimulate their flagging economy. The actions of Indonesia regarding permission to export nickel concentrate have caused great confusion in the nickel market with warehouse stocks of nickel dropping almost 90% and the price of the metal bouncing up and down. No one is certain what the Indonesian government will do next but their convoluted behavior has opened new opportunities along with new danger in the nickel market. Playfair Mining Ltd (PLY:TSX.V) is a micro-junior with aspirations to advance three base metals projects in Norway. The company announced an option on March 1st of 2019 to pick up 100% of three contiguous nickel/copper/cobalt properties in an historic mining district in south central Norway. The terms are a little convoluted but basically say that Playfair will issue over time 9.9% of their shares and spend a certain amount of money … Continue reading →

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