Lifezone Metals stock rises on new nickel discovery at Kabanga
The latest drilling results from the Safari Link area represent a near-term opportunity for resource and value addition, Lifezone said.
The latest drilling results from the Safari Link area represent a near-term opportunity for resource and value addition, Lifezone said.
The miner said it was hit by adverse geopolitical risks and postponed furnace repairs, following a drop in production in 2023.
The Association of Mining and Exploration Companies says Australia should introduce a 10% production tax credit or downstream producers.
Companies in other high-cost nickel-producing regions have announced restructurings and writedowns as prices have dropped.
The production process at the company's Doniambo plant in New Caledonia was disrupted by the breaking of several furnace cathodes.
The metal used in stainless steel and EV batteries is down more than 40% from a year ago amid a growing global glut.
A prolonged slump in nickel prices is stress-testing producers worldwide.
A new nickel and cobalt-based material helps remove urea from water and potentially convert it into hydrogen gas.
The miner on Monday posted a near 50% drop in second-quarter metallurgical coal output.
Wyloo's mines near Kambalda will go into care and maintenance from May 31.
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