Glencore ups expectations for FY trading, lowers nickel, coal
Coal production fell 16% to 48.7 million tonnes in the first half, partly because of market-related cuts in Australia.
Coal production fell 16% to 48.7 million tonnes in the first half, partly because of market-related cuts in Australia.
The project will help cut carbon emissions by 12% compared with 2020 levels at its Mt. Keith and Leinster nickel operations, where power is currently being generated through diesel and gas turbines.
The feasibility study is underway and should be ready by the middle of next year.
IGO, which completed a $1.4 billion deal to buy a stake in Tianqi Lithium's Australian assets last month, has been looking to focus on its nickel and lithium ventures.
Benchmark nickel prices on the London Metal Exchange, at $19,500 a tonne, are up more than 20% since April and at their highest since February.
Offer represents a 69% premium to Noront’s closing price on Monday and is 129% higher than the closing price on May 21, a day before Wyloo’s proposal.
Benchmark Mineral Intelligence estimates the deal would be for up to 18,000 tonnes of nickel annually.
Nickel's current revival has very little to do with either Indonesia or battery demand.
Brazilian miner Vale said on Monday that it had produced 75.7 million tonnes of iron ore in the second quarter, with output of 41,500 tonnes of nickel.
MINING.COM’s tracker of the value of battery metals in newly sold electric cars surges from pandemic lows, grows 18% month-month as lithium and nickel prices resume upward march.