Nornickel management proposes 76% dividend cut
Nornickel has proposed slashing its annual dividend for 2022 to $1.5 billion from the $6.3 billion paid out for 2021.
Nornickel has proposed slashing its annual dividend for 2022 to $1.5 billion from the $6.3 billion paid out for 2021.
The Indonesian conglomerate is looking to acquire a nickel mine in the resource-rich island of Sulawesi.
Earlier this year, Tesla signed its first US nickel supply deal with Talon.
Trading volumes at the LME have been slowly declining primarily due to increased competition from the OTC markets.
During the first 11 months of the year, the global market was oversupplied by 90,700 tonnes.
All 16 drill holes completed on the Reid property have now intersected multi-hundred-metre intervals of nickel mineralization.
The partnership would build a hydro-metallurgical complex with an output capacity of 67,000 tonnes of nickel and 7,500 tonnes of cobalt per year.
The company will also look to collaborate with Tsingshan Group.
The PFS will mark the culmination of the extensive de-risking and optimization program that has been undertaken since the issuance of the 2020 PEA.
Country will limit construction of nickel smelters to ensure new plants produce high-value products and follow green principles.