Chinese firms have been snapping up copper, uranium, iron ore and coking coal assets around the world, but have yet to make a big splash in nickel.
The Board of Western Areas (TSX:WSA)(ASX:WSA) is pleased to announce formal completion of the acquisition of 100% of Kagara Nickel Pty Ltd ("Kagara Nickel") for A$68 million.
Domestic nickel premiums remain under pressure as Brazil’s Vale SA aggressively seeks orders after returning to full production.
The Board of Western Areas is pleased to announce the Company has reached agreement with Kagara Limited ("KZL") to purchase 100% of Kagara Nickel Pty Ltd ("Kagara Nickel") including the high grade Lounge Lizard nickel deposit for A$68 million. The Lounge Lizard deposit is located adjacent to Western Areas' 100% owned Flying Fox nickel mine at the Forrestania Nickel Project.
Surplus nickel and Chinese nickel pig iron production, may combine to lower nickel prices and keep stainless steel prices in check.
A United Steelworkers investigation says Vale's Stobie nickel mine fatalities could have been avoided and has called on the Ontario Government to bring criminal charges against the company.
As Canadian exports of iron ore and uranium to China continue to increase dramatically, Beijing will benefit from higher-quality ore and diversification of supply sources, predicts economist Patricia Mohr in the latest Scotiabank’s Commodity Price Index.
Sherritt International Corp. expects a volatile nickel market this year and next as the global demand picture for the commodity remains unclear, according to its top executive.
Nickel major Norilsk is preparing to start its Honeymoon Well project, in Western Australia, following positive studies completed in 2011, director of overseas operations Roman Panov said this week.
CaNickel Mining Ltd. ("CaNickel" or the "Company") (TSX:CML), is pleased to report that it has successfully implemented long hole stoping mining method and achieved record mine production at its 100% own Bucko Lake mine, Manitoba, Canada.