First Quantum to halt Ravensthorpe nickel mine
The miner will sell nickel from the stockpiles for the next 18 months to two years, but would have to cut 30% of the workforce.
The miner will sell nickel from the stockpiles for the next 18 months to two years, but would have to cut 30% of the workforce.
The South Korean battery maker can acquire a 10% equity interest in the Crawford project for $100.5 million.
Talks for a Sudbury tie-up have been on and off since 2006.
Canada Nickel’s flagship project is the Crawford nickel sulphide deposit in Ontario.
Nickel is poised to post an annual drop of more than 40% on the London Metal Exchange, the biggest decline since 2008.
The resource base of the new project is about 300 billion cubic metres of gas and 70 million metric tons of oil.
Annual production at the new plant is expected to be up to 500,000 metric tons per year.
USSM is developing its cobalt-nickel mine and battery metals recycling facility in Missouri.
SQM will pay Novo A$10 million for a 75% interest in five tenements held by Novo.
High-energy, nickel-rich cathodes may increase electric vehicles’ ability to store more energy per charge and to withstand more charging cycles.