TSX-listed Hudbay Minerals is to sell its Guatemalan Fenix project to Cyprus-based Solway Group for $170-million, the company said late on Friday. Solway, which owns mines in the Ukraine and Macedonia, will pay $140-million in cash on closing and $30-million once certain milestones in the nickel project’s development are reached, Hudbay said.
The board of Western Areas has announced that due to continuing high levels of production from the Forrestania Nickel Project, shipments of nickel concentrate to Jinchuan Group in China are already several months ahead of the original schedule.
Reuters reported that Australia's Albidon Limited has cut its 2011 nickel concentrate output forecast by 21% at Zambia's Munali mine due to lower than projected ore production and quality.
Global miner Xstrata announced Tuesday it plans to invest a further $530 million to develop new projects at Raglan mine in northern Quebec. The U.K.-based company says the investment will allow it to further develop the nickel project.
Reuters reported that Nickel Asia Corporation, the Philippines' largest nickel producer, is partly owned by Japan's Sumitomo Metal Mining Co Limited. The Southeast Asian country was the world's third biggest producer of nickel ore last year, behind
Contractor VDM Group has signed a $40 million contract with BHP Billiton at its Kambalda nickel operations.VDM's Perth-based subsidiary Cape Crushing and Earthmoving Contractors will handle the five years of work at the Kambalda Nickel Concentrator.The
European Nickel (LON:ENK) remains well funded with cash of US$7.54 million, its latest quarterly update reveals. This compares with US$10.91 million at the start of period, though the company’s direct shipments from its Acoje project in the Philippines.
Commodity Online reported that Mirabela Nickel Limited has sold 3909 tonnes of nickel in Q2 2011, up by 88% QoQ. Production at its Brazilian mine boosted by 20% to 3395 tonnes. However, cash costs also rose by 13% to USD 7.85 from USD 6.97 during the
Bloomberg reports nickel surplus may narrow on increasing stainless-steel demand from China and stalled mining projects have lowered prices.
Post by Krista Smith, Nickel Researcher Reuters Africa reports Norilsk Nickel (LON:MNOD) sold 136,400 tonnes of nickel in the first half of the year at an average price of $25,923 per tonne. The market news is quoted as saying, Sprogis said investor
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