Nornickel triples earnings as metals prices offset output dip
Company revenue in the six months to June 30 rose 33% year on year to $8.9 billion.
Company revenue in the six months to June 30 rose 33% year on year to $8.9 billion.
About 85% of members of USW Local 6500 voted in favour of Vale’s latest five-year contract offer.
The five-year agreement includes "significant monetary improvements for existing members."
The miner will make a final investment decision on expanding the processing plant at its Mt. Keith nickel mine by the end of the financial year.
The transaction is the second step in Sibanye-Stillwater’s battery metals strategy.
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.
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