Vale CEO says miner will spin off copper, nickel unit
Rather than selling all or part of it, the company is now looking to separate and ring-fence the copper and nickel unit from the iron ore business.
Rather than selling all or part of it, the company is now looking to separate and ring-fence the copper and nickel unit from the iron ore business.
Talon has been selected as a recipient of the first set of projects funded by US President Biden's Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles.
Possible sanctions on Russian metal, lawsuits, a battle to recover trust and a slump in nickel trading after the March fiasco are just some of the headwinds facing the LME.
The global nickel market is expected to remain in deficit for a third straight year in 2023 on solid demand for battery, chip-making equipment and oil-well tubular.
The two firms filed in June for a so-called judicial review of the LME’s actions during the nickel crisis.
The deal marks a further move by the world's fourth largest carmaker to lock down supplies of metals needed for batteries that power EV cars.
The company started building the Araguaia nickel mine, which it acquired from Glencore in 2015, in May this year.
The discovery, known as the Umburana System, has been traced for 5 km so far and is open in all directions.
The jump in the dollar and borrowing costs have made it much more expensive for banks to finance London Metal Exchange positions in recent days.
Noront's primary asset is the Eagle's Nest project, which has been billed by Wyloo as the largest high-grade nickel discovery in Canada since the Voisey’s Bay find in Labrador.