A definitive feasibility study (DFS) into its integrated nickel re-start plan, in Kambalda, has confirmed the potential for the production of 63 000 t of nickel-in-concentrate over a five year period. ASX-listed Mincor Resources on Wednesday noted that the project would require a capital investment of A$68-million and would have a life-of-mine all-in sustaining cost of A$4.47/lb.
Research agency Fitch Solutions expects global nickel production to decrease significantly over the course of this year, as major producer Indonesia’s nickel ore export ban comes into effect. The ban in Indonesia was announced in September 2019, bringing it forward to go into effect from January this year instead of January 2022.
ASX-listed Panoramic Resources has successfully transitioned all underground mining activities at its Savannah nickel mine in Western Australia to the stewardship of underground contractor Barminco. Barminco has rapidly mobilised its key personnel and initial equipment to site, with the underground transition and full operation handover occurring ahead of schedule on March 1.
Indonesia's coordinating minister overseeing maritime resources and investment affairs said on Tuesday that the coronavirus outbreak in China will likely delay development of nickel projects in the Southeast Asian country worth about $11-billion. Minister Luhut Pandjaitan told reporters that projects being developed in Morowali and Konawe on Sulawesi island and in Weda Bay in North Maluku will be affected by measures taken in China to rein in the epidemic that have curbed industrial activity.
Nickel miner Panoramic Resources has inked a long-term underground mining contract with contractor Barminco at its Savannah nickel mine, in Western Australia. Barminco’s parent company Perenti on Friday said that under the near A$200-million contract, Barminco will undertake mine development, production and haulage over a three-year term, and would employ some 170 staff.
Nickel miner Panoramic Resources has sold off a portion of its shareholding in fellow listed Horizon Gold. The ASX-listed company on Tuesday told shareholders that it had sold more than 20.23-million Horizon shares at a price of 27c a share to Zeta Resources, raising some A$5.5-million.
ATHENS – Greek lawmakers approved a restructuring plan for Larco late on Wednesday which Greece called a last attempt to save Europe's biggest nickel producer. The European Commission said in November it was taking Greece to the European Court of Justice (ECJ) over its failure to recover €135.8-million of illegal state aid to Larco which is struggling under heavy debt. Larco, which is 55% owned by the state, is floundering under half a billion euros in debt owed to suppliers, contractors, banks and pension funds, including €350-million in arrears to power utility Public Power Corp.. The Greek parliament on Wednesday cleared an amendment which stipulates the appointment of an administrator in March to liquidate Larco, cut wage costs by an average 25% and push ahead with a fast-track tender to sell a smelting plant and some of its mines.
The share price of junior Poseidon Nickel increased by more than 9% on Tuesday, after the company reported a doubling of the nickel reserve at its Silver Swan operation, in Western Australia. The Silver Swan project is now estimated to host 130 000 t of contained nickel metal, at 5.2% nickel for 6 800 t of nickel, this was a 106% increase on the previous estimate.
The Russian government is considering spending $1-billion from its sovereign wealth fund on a loan to mining giant Norilsk Nickel for its Arctic Palladium project, the Interfax news agency cited a source as saying on Friday. The Arctic Palladium project is Nornickel's joint venture with Russian businessman Musa Bazhaev.
Nickel miner Panoramic Resources has reported a 22% decline in nickel production and a 19% decline in copper production for the December quarter, compared with the previous three months. Nickel in concentrate production at the Savannah operation, in Western Australia, declined from 1 342 t to 1 042 t during the December quarter, while contained copper declined from 855 t to 695 t.