Eramet’s New Caledonia nickel business seeks help with new cash crunch
SLN has for years tried to improve profitability which has been hit by social unrest and energy supply issues in the French Pacific territory.
SLN has for years tried to improve profitability which has been hit by social unrest and energy supply issues in the French Pacific territory.
Indonesia is the biggest producer of nickel by a wide margin and is home to around 20% of the world’s deposits of the metal.
The Vale deal will supply GM with enough refined nickel for up to 350,000 EVs a year.
Indonesia and Canada are the world No. 1 and No. 6 nickel producers, respectively.
A notice released on Wednesday said the initial margin for nickel would climb to $6,100 a tonne effective after close of business on Friday.
According to the company, a “significant amount” of the net proceeds will be used for advancing work related to the planned exploration and development program.
Nickel plunged by more than more than 10% in London, rapidly eroding a sharp weekly gain.
CNGR will invest in a facility to produce nickel matte with an installed capacity of 80,000 tonnes in a park managed by Antam.
Indonesia and Canada are the first and sixth biggest nickel producers in the world, respectively.
The troubled Goro nickel mine — one of the world’s largest deposits — has been forced to reduce production to address a leak from its tailings dam.