MINEX Forum

Tag: nickel

  • French government flags fresh funds for nickel rescue

    French government flags fresh funds for nickel rescue

    The French government plans to offer fresh subsidies and loans for a New Caledonia nickel plant co-owned by commodities group Glencore but won’t go any further than that, Finance Minister Bruno Le Maire said on Tuesday.

    The French-controlled Pacific territory has some of the world’s largest nickel reserves, but high costs have left its three processing plants on the verge of collapse.

    Le Maire has previously estimated the short-term financing needs of the three nickel processing groups – SLN, KNS and Prony Resources – at 1.5 billion euros ($1.61 billion).

    Commodities group Glencore, which co-owns KNS, has said it will provide funding only until the end of February. French miner Eramet has repeatedly said it will not provide more funding for SLN, in which it holds a majority stake.

    Le Maire on Tuesday said that the government would provide 60 million euros ($64 million) through subsidised energy prices, 45 million euros in additional resources and a 100 million euro loan.

    “Now it’s up to the shareholders to take their responsibilities. We will not go any further and we will not subsidise losses,” Le Maire told lawmakers in the lower house of parliament.

    The French state, which has complicated relations with New Caledonia authorities over some parties’ pro-independence stance, also wants the territory’s northern province to participate in the rescue, Le Maire said.

    His ministry on Monday said that the France would continue talks until the end of February to save New Caledonia’s nickel industry after last month’s failure reach a deal to meet its funding shortfall.

  • U.S. optimistic it will reach critical minerals deal with EU

    U.S. optimistic it will reach critical minerals deal with EU

    The United States expresses optimism regarding the possibility of reaching an agreement with the European Union (EU) that would enable critical minerals mined or processed in Europe to qualify for U.S. clean vehicle tax incentives. This encouraging statement was made by a senior U.S. official on Monday.

    Negotiations between the transatlantic partners are underway to determine the eligibility of EU critical minerals, such as lithium and nickel, for green subsidies under the U.S. Inflation Reduction Act. This act specifically promotes products manufactured in North America. Jose Fernandez, the Under Secretary for Economic Growth, Energy, and the Environment at the State Department, shared during a briefing in Brussels that intense negotiations are being conducted.

    Fernandez expressed hope and optimism, stating that negotiations are progressing well. Acknowledging the need for collaborative efforts, he expressed confidence in reaching an agreement between the United States and the European Union.

    He also clarified that there are no plans to link the critical minerals agreement to the resolution of the separate transatlantic negotiations addressing U.S. import tariffs on EU steel. It is important to note that the United States has already signed a minerals agreement with Japan in March. Currently, both the EU and the United Kingdom are seeking similar agreements.

    Additionally, Fernandez mentioned that he is engaging in discussions with EU officials to establish an agenda for the upcoming joint Trade and Technology Council, which the United States will host before the end of the year.

    He emphasized that both sides are committed to establishing safeguards for artificial intelligence and moving beyond general statements to concrete actions. While there is no specific timetable for reaching an agreement, there is a shared understanding that it should occur sooner rather than later. Furthermore, both parties agree that any technological advancements should uphold democratic values, human rights, and individual freedoms.

    The United States remains positive about the ongoing negotiations with the European Union, recognizing the importance of collaboration and the need to promote sustainable and innovative solutions.

  • QX Resources expanding its Vuostok nickel-copper project in Sweden

    QX Resources expanding its Vuostok nickel-copper project in Sweden

    QX Resources-backed Bayrock Resources has expanded the mineral lease area around its promising Vuostok nickel-copper project in Northern Sweden.

    In July, the Steve Promnitz-led lithium explorer QX Resources’ acquired 39% of the unlisted Aussie company Bayrock Resources, which has a portfolio of nickel-copper-cobalt projects in Sweden.

    Bayrock’s Vuostok project is located roughly 60km northwest of Lainejaur, offering a potential joint development opportunity as a ‘district play’.

    The newly added Nr 102 lease expands the total mineral lease by 33% at Vuostok, which QXR says could be within potential trucking distance to Lainejaur given the well-established all-weather road network and supporting infrastructure in the district.

    “This would benefit any future stand-alone nickel-copper-cobalt operations or provide additional ore feed for a possible Lainejaur development,” the company says.

    “Trucking of ore material for processing is a regular feature of operations in this part of northern Sweden.”

    Further updates anticipated

    In another exciting development, significant nickel-copper assay results have been identified from boulders located within the new Vuostok lease and from drill results near surface at Vuostok.

    The company says these results underpin Bayrock’s decision to significantly expand the prospect.

    “This is turning into a genuine potential district scale operation given the proximity of Bayrock’s Lainejaur and Vuostok Projects in a mining friendly region of Sweden,” QXR managing director Steve Promnitz says.

    “Further updates are anticipated as Bayrock continues exploration across another highly prospective asset, the Notträsk Project, one of Bayrock’s six 100% owned nickel copper projects.”

    Highly encouraging widths of nickel-copper mineralisation

    The recently released assays by Bayrock highlight significant widths of nickel-copper mineralisation from eight holes at the Storbodsund Prospect within Vuostok.

    The results include:

    6.2m at 1.2% Ni, 2.2% Cu, 0.04% Co from 11m down hole (VUO23011);
    6.9m at 1.2% Ni, 0.3% Cu, 0.05% Co from 5.1m down hole, including 0.4m at 3.9% Ni, 0.3% Cu, 0.11% Co from 6.85m down hole (VUO23013);
    0.7m at 3.2% Ni, 1.0% Cu, 0.08% Co from 10.3m down hole (VUO23004); and
    0.9m at 1.2% Ni, 0.1% Cu, 0.08% Co from 6m down hole (VUO23005).

    QXR says the results indicate near surface massive nickel-copper sulphides between 0.3-6m thick, less than 18m from surface and beneath a thin cover of glacial sediments.

  • Stellantis signs offtake agreement and invests in Kuniko for supply of nickel and cobalt sulphate

    Stellantis signs offtake agreement and invests in Kuniko for supply of nickel and cobalt sulphate

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    Stellantis N.V. and Kuniko Ltd recently announced the signing of a binding offtake term sheet agreement securing a 35% future production offtake of nickel sulfate and cobalt sulfate from Kuniko’s Norwegian exploration projects for a term of nine years.

    [/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=”10px”][vc_row_inner][vc_column_inner width=”2/3″][widget-SocialWidget][/vc_column_inner][vc_column_inner width=”1/3″][link url=”https://www.miningmetalnews.com/20230703/2754/stellantis-signs-offtake-agreement-and-invests-kuniko-supply-nickel-and-cobalt” content_text=”News source”][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_column_text]In addition, Stellantis agreed to purchase €5.0 million (A$ 8 million) in new equity in Kuniko, giving it a 19.99% shareholding on completion and rights to nominate one director to the Kuniko board.

    “We are on an aggressive path to securing a holistic portfolio of raw materials needed to meet our Dare Forward 2030 electrification targets,” said Stellantis Chief Purchasing and Supply Chain Officer Maxime Picat. “With Kuniko, we are adding another lever to support our European battery needs with a local and environmentally conscious solution from its Norwegian projects.”

    “This strategic partnership with Stellantis promotes sustainable European battery value chain solutions and validates the potential of our battery metals project portfolio in Norway,” said Antony Beckmand, Kuniko CEO. “Together with Stellantis, we eagerly anticipate working hand in hand to achieve exploration success, move towards production, and make meaningful contributions to the growth and advancement of the European battery industry.”

    Funds from the equity purchase will be applied to advance Kuniko’s brownfield and greenfield battery metals exploration projects in Norway which include nickel, cobalt and copper.

    As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. Stellantis is on track to become a carbon net zero corporation, all scopes included, by 2038, with single-digit percentage compensation of remaining emissions.

    Completion of the binding offtake and share subscription agreements are subject to customary closing conditions, including regulatory approvals.

    Stellantis is assembling a roster of partnerships to ensure a stable supply of key materials for its electrified future. In addition to Kuniko, Stellantis has agreements with Alliance Nickel, McEwen Copper, Terrafame, Vulcan Energy, Element 25 and Controlled Thermal Resources.[/vc_column_text][vc_empty_space][epic_post_tag compatible_column_notice=”” font_size=”17px”][/vc_column][vc_column width=”1/6″][vc_text_separator title=”LATEST NEWS” color=”juicy_pink”][vc_empty_space height=”10px”][widget-LatestPosts post_number=”4″][vc_empty_space height=”10px”][vc_text_separator title=”MOST POPULAR” color=”juicy_pink”][vc_empty_space height=”10px”][widget-popular-posts post_count=”4″][vc_empty_space][vc_wp_search title=”Search”][vc_empty_space][lvs display_like=””][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][/vc_section][vc_section][vc_row][vc_column][distance desktop_type=”50″][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][epic_block_28 compatible_column_notice=”” number_post=”6″ post_offset=”0″ first_title=”You may also like”][/epic_block_28][vc_empty_space][/vc_column][vc_column width=”1/2″][epic_hero_5 compatible_column_notice=”” hero_margin=”0″ content_filter_number_alert=”” post_offset=”0″][/vc_column][/vc_row][/vc_section]

  • Construction of a hydrometallurgical plant for the production of cathode nickel and cobalt

    Construction of a hydrometallurgical plant for the production of cathode nickel and cobalt

    [vc_row][vc_column][vc_column_text]Source: Kazakh Invest[/vc_column_text][vc_column_text]Products

    Annual capacity:

    • Cathode nickel – 6,220 tons;
    • Cathode cobalt – 250 tons;

    Project

    The project provides for the construction of a hydrometallurgical plant for the production of cathode nickel and cobalt on the basis of the large Belogorskoye deposit. The company intends to send up to 100% of its products for export, mainly to China.

    Company

    The initiator is Belogorskoye LLP, whose main activity is the extraction of other non-ferrous metal ores. The initiator has license No. 326-EL dated October 1, 2019 for the exploration of solid minerals at the Belogorskoye deposit until November 26, 2025 (four blocks: M-44-91-(10v-5a-17, 18, 22, 23) .

    Market

    • In the last 5 years, China has been the world’s leader in nickel consumption. At the end of 2021, the volume reached 1,682 thousand tons, which is 59% of the world indicator. Metal consumption in China continuously increased from 1.2 Mt in 2017 to 1.7 Mt in 2021 at a CAGR of 9.2%.
    • The target market (China) is the world leader (about 50%) in stainless steel smelting, consuming 1.2 million tons of nickel (2021), and in the production of batteries for electric vehicles (metal consumption in the amount of 277 thousand tons).
    • Global cobalt consumption increased from 128 kt in 2017 to 175 kt in 2021, reaching a CAGR of 8.1%. Cobalt demand is expected to continue strong growth due to the global transition to electric vehicles and is expected to approach 317 kt in 2026.

    What is the attraction of the project?

    • Availability of subsoil use rights for exploration. The initiator is a subsoil user with a license for the exploration of solid minerals (nickel and cobalt) at the Belogorskoye deposit No. 326-EL dated October 1, 2019.
    • Evaluation of deposit reserves. The reserves were put on the state balance sheet in 2019. Belogorskoye is one of the richest nickel-cobalt deposits in Central Asia. The deposit has 48 thousand tons of approved reserves of nickel in category C2. The volume of balance and off-balance reserves of the deposit exceeds 80 thousand tons of nickel and 3 thousand tons of cobalt.
    • Geographic location. The project has an advantageous location in terms of geographical proximity to China, the main consumer of metals.

    Investment offer

    To implement the Project, funding in the amount of USD 99,935 thousand is required:

    • 70% (USD 69,954 thousand) – debt financing (subject to collateral);
    • from 30% (USD 29,980 thousand) – investor participation.

    The proposed financing structure and state support measures are indicative, the final financing structure and the stake in the Project will be determined based on the results of joint negotiations with the investor.[/vc_column_text][/vc_column][/vc_row]