Nickel price extends gains as metals traders await China’s return
The metal used in stainless steel and batteries rose as much as 1.3% on the London Metal Exchange.
The metal used in stainless steel and batteries rose as much as 1.3% on the London Metal Exchange.
Judge ruled that the extreme price movement was "a once in a generation event" and that the LME acted lawfully in cancelling the trades.
Vale estimated it to have a preliminary impact of 1,500 to 2,000 metric tons on its fourth quarter nickel production.
Located in Tanzania, Kabanga is considered to be one of the world’s largest and highest-grade undeveloped nickel sulfide deposits.
The goal is to determine the potential of its NISK asset, known for its rich deposits of nickel, copper, cobalt and other critical minerals.
Submission of the document, which it expects to complete within the next six weeks, is a critical requirement for obtaining federal permits.
Traders said that the incident could tighten supplies in the cobalt market.
Delays to issuing quotas has slowed the rapid expansion of nickel production in the world's top producer of the metal.
Key moves in the mining sector.
The R&D center in St. Petersburg will be used to study the use of nickel-containing cathode active materials in electric batteries.
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