China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Canada’s Talon Metals Corp said on Thursday it had intercepted new high-grade nickel-copper mineralization in the Tamarack mine project in Minnesota.
Demand for nickel, a silvery-white metal used to boost energy storage in a battery’s cathode, is expected to jump over the next decade as electric vehicles go mainstream.
Earlier this year, Tesla Inc signed its first US nickel supply deal with Talon, securing a key US source of the metal for its battery factories in Texas and Nevada.
Talon said its Minnesota project, slated to open by 2026, is a joint venture with global miner Rio Tinto.
(By Arshreet Singh; Editing by Devika Syamnath)
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