RIA Novosti reports that Norilsk Nickel has sold 8.06 percent of its shares to two offshore companies, Delmonico Group and Crelios Investment, for over $2.77 billion, the company said in documents obtained by RIA Novosti on Monday.
AusNiCo has intersected 181 meters at 0.25% nickel from drilling at the Pembroke prospect, supporting extensions to its large low grade nickel sulphide mineralized system.
Chinese state-owned company Dafeng Port Group plans to set up a ferronickel industry in Kotabaru, South Kalimantan with a production capacity of 200 million metric tons a year. The president director of Dafeng Port Group Co. Ltd., Ni Xiangrong, said here on Saturday the Dafeng Port Group Co.Ltd. has successfully developed an integrated economic zone in China and plan to build a ferronickel industry and its support industries in Kotabaru.
Industrial metals touched its priciest levels in more than three months on Tuesday as upbeat demand prospects in two of the world's biggest consumers helped to keep a surprisingly strong summer rally intact.
Thunder Bay-based Zenyatta Ventures has ended its dispute with Constance Lake First Nation after the leadership of the 1,470-strong community decided to no longer pursue a motion of injunction against the junior explorer in exchange for better co-operation and preferential job opportunities. Zenyatta can now advance its Albany project south of the so-called Ring of Fire in the James Bay lowlands where it is exploring for nickel and platinum group metals with a purported value in excess of $1 billion.
Norilsk Nickel, world number one nickel and palladium producer and Russia's biggest miner, announced on Friday it is restarting operations at its Maggie Hays mine near Lake Johnston in West Australia. Norilsk mothballed Maggie Hays bought from BHP and the other Australian operations it acquired in 2007 two years later as the financial crisis cut demand. Stainless steel production accounts for around two-thirds of nickel consumption.
Business Standard reports that tin and nickel saw a sudden jump in prices today in India after steady trading in London.
Nickel prices rebounded from a sharp fall in June, but slow demand and concerns about an impending sharp rise in output will exert downward presure, or at least limit upside prospects in the next month or two. The London Metal Exchange three-months nickel price was last indicated at $23,920 a tonne. "We've got a situation of rising production and slowing stainless demand growth," said independent consultant Angus MacMillan. Against this backdrop, he said prices were more likely to move lower than higher.
Fletcher Nickel Inc. President Frank Smeenk, Suite 1000, 141 Adelaide Street West, Toronto, Ontario exercised a total of 1.4 million warrants, expiring July 13, 2011, to acquire Fletcher Nickel Inc. (the "Company") common shares from treasury at $0.06 each (the "Transaction").
Pure Nickel Inc. (TSE:NIC,OTC:PNCKF) reports it has reached an agreement with Skye Mineral Partners, LLC regarding a copper project in Utah.
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