Vale unsure if New Caledonia nickel operations will continue
A day after first quarter results showed a 36 percent slump in profit, executives said they were not satisfied with nickel prices.
A day after first quarter results showed a 36 percent slump in profit, executives said they were not satisfied with nickel prices.
The Bystrinsky project is now expected to produce 25,000-31,000 tonnes of copper and 90,000-110,000 ounces of gold in concentrate in 2018.
The Philippines' top nickel ore producer, Nickel Asia Corp, said its export plans in 2018 remain unchanged despite government plans to limit mining areas.
The country was ranked 10th in world nickel production in 2016 and sixth in cobalt.
The move is likely to happen early next year and last for three months, after which pricing will return to the ring.
With Russian aluminium producer Rusal imploding in the wake of U.S. sanctions against its oligarch owner Oleg Deripaska, attention is now turning to the status of another Russian industrial powerhouse, Norilsk Nickel.
Aluminum rallied as much as 7.1 percent, a record intraday gain, to $2,718 a ton in London.
It expects to have sold 90% of its nickel sulphate supply by the end of 2019, two years earlier than anticipated.
Price surges nearly 5% to three-year high over worries that top producer Norilsk could befall the same fate as aluminum giant Rusal.
The tenements are within the Leinster Nickel Project, located in granites and greenstones of the Achaean Kalgoorlie Terrane.