Nornickel moves closer to biggest buyer with plan for copper plant in China
The Russian firm will close its Arctic copper plant and build one in China with an unnamed partner.
The Russian firm will close its Arctic copper plant and build one in China with an unnamed partner.
The world's largest listed miner said iron ore production from mines it operates in Western Australia on a 100% basis was 68.1 million tonnes during the three months ended March 31.
Contained metals are estimated to be 7.4 billion lb. nickel and 297,624 lb. cobalt, representing a 21.6% increase in nickel metal tonnes.
Nornickel intends to remain a "reliable supplier of products" and will continue to fulfil all its contractual obligations, said the company.
A UK official said London expected any market disruption to stabilize quickly.
The US is supporting a grant to Eramen Minerals to develop an ore-to-nickel and cobalt processing plant.
The Aguablanca mine will produce a total of 43.2 million lb. nickel and 34.6 million lb. copper plus gold, platinum, and palladium.
The MRE showed a 42% increase in the in-pit portion of the M&I nickel resource.
The company has started front end engineering design at the northern Ontario project, expected to be in production by late 2027.
More than 25 global auto and battery makers have expressed interest in buying nickel from its new Indonesian plant.