France offers loan to New Caledonia nickel firm Prony to avert collapse
Prony Resources is one of three nickel processors in the French territory that face insolvency as high costs and political tensions have hit profitability.
Prony Resources is one of three nickel processors in the French territory that face insolvency as high costs and political tensions have hit profitability.
Nickel prices fell 40% in the last year as Indonesian supply jumped.
Last month, a Brazil judge ruled that BHP, Vale and their joint venture Samarco must pay up to 47.6 $9.67 billion in damages.
One was a furnace supervisor at a different smelter in the park who had been seconded to Tsingshan’s facility, while the other was also employed by a different firm.
The new resource includes 813 million tonnes of indicated material grading 0.29% nickel equivalent.
Glencore will keep the nickel plant under care and maintenance for six months, during which its employees would continue to be paid.
Nornickel expects a further decline in its nickel and palladium output this year, due to geopolitical risks and postponed furnace repairs.
Key moves in the mining sector.
Macquarie says January's full set of PMIs looks like a potential turning point for the global industrial cycle.
The processing plant in Ontario is expected to begin production in 2027 and process 80,000 tonnes of nickel annually.