Nickel hits 3-week high after Philippine mine closures
The price of nickel rose sharply last week as traders placed bets on supply pressures reverberating from a decision by the Philippines to close almost two dozen mines.
“Structural projects,” which the company hopes will counteract a drop in ore grades of its deposits, are key to maintaining copper production in the coming years.
The project's preliminary economic assessment based on prior resource estimates outlined a 25-year operation that would produce 842,000 tonnes of nickel.