Archive | Nickel

“Major step forward,” says Ring of Fire developer: Noront looks to use north-south for chromite shipments – Staff (Northern Ontario Business – August 21, 2017)

https://www.northernontariobusiness.com/

The lead Ring of Fire mine developer is pleased with the Ontario government tabling a road plan to reach the deposits in the undeveloped James Bay mineral belt. “Today’s announcement by Premier Kathleen Wynne and the Chiefs of Webequie, Marten Falls and Nibinamik First Nations is a major step forward that will re-energize development of the Ring of Fire region,” said Noront Resources president-CEO Alan Coutts in an Aug. 21 news release.

“Construction of all-season industrial and community access roads is one of the key things we’ve been working toward with the government and our First Nation partners. I am very pleased to see it moving forward.”

Noront officials were in Thunder Bay to attend the announcement by Premier Kathleen Wynne and the Chiefs of Marten Falls, Webequie and Nibiminik First Nations, and the government’s commitment to providing funding for two industry and community road proposals to reach the Ring of Fire mineral belt. Continue Reading →

Vale reviewing Voisey’s Bay – by Staff (Sudbury Star – August 21, 2017)

http://www.thesudburystar.com/

Another of Vale Canada’s nickel operations in Canada is under review. CBC News is reporting that Vale’s plans to extend the life of the Voisey’s Bay nickel mine in northern Labrador by moving operations underground are on hold.

Vale said a depressed market has led to a review of all projects, including Voisey’s Bay underground. “The nickel price has been depressed for some time now with no immediate or short-term relief in sight,” wrote Vale spokesperson Cory McPhee in an email to CBC News.

“During this period we are not approving any new project contracts.” Last month, Vale said it would seek out fresh copper mining options and stop expanding nickel production capacity after its second-quarter net income plunged on forex losses, rising costs and weaker iron ore prices. Continue Reading →

NORONT NEWS RELEASE: PROVINCE OF ONTARIO TO FUND RING OF FIRE ROAD PROPOSALS LED BY MARTEN FALLS, WEBEQUIE AND NIBIMINIK FIRST NATIONS

http://norontresources.com/

TORONTO, ONTARIO—August 21, 2017—Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) participated in a joint announcement today by Premier Kathleen Wynne and the Chiefs of Marten Falls, Webequie and Nibiminik First Nations, which formally committed provincial funding to two First Nations road proposals that will provide community and industrial access to the Ring of Fire Mining District.

Road Proposals

The provincial government agreed to support and fund the following road proposals which will connect First Nation communities to the Ring of Fire:

•An east-west road connecting Webequie and Nibinamik First Nations to the provincial highway network north of Pickle Lake (the “East-West Road”). This road will continue from the Community of Webequie to the Ring of Fire.
•A north-south community access road is being planned for construction by the Marten Falls First Nation with an option to expand the road to the Ring of Fire to support the development of chromite mining (the “North – South Road”). Continue Reading →

USW on expected Vale layoffs: ‘They’re looking for efficiencies. Manpower is one.’ (CBC News Sudbury – August 16, 2017)

http://www.cbc.ca/news/canada/sudbury/

Union representative Myles Sullivan hoping members stay focused at work

Click here for interview: http://www.cbc.ca/player/play/1025770563541

Myles Sullivan, the area coordinator for the USW in northeastern Ontario, is cautioning members of the union to stay focused on safety while at work. Not an easy task, when many of Vale’s workers have questions after the mining giant released a company-only video that suggested impending layoffs for staff.

“It’s a very concerning video, outlining the financial situation of the company,” Sullivan said. “There’s a good future [in Sudbury,] a lot of reserves, but the mines need to produce profits.”

Sullivan said the company hasn’t made any final decisions on layoffs, but with new CEO Fabio Schvartsman at the helm of the company since May, all cards are on the table. “They didn’t say a number, but a global company like Vale they’ll invest where they have the best returns,” Sullivan said. “They’re looking at efficiencies. Of course manpower is one.” Continue Reading →

Vale video describes financial status, hints at layoffs: USW – by Samantha Samson (CBC News Sudbury – August 15, 2017)

http://www.cbc.ca/news/canada/sudbury/

Mining giant says video is internally-used communication tool used to describe financial situation

Vale is hinting at future layoffs at their Sudbury operations, according to a United Steel Workers representative. Myles Sullivan, area coordinator for northeastern Ontario, told CBC News that he and representatives from Local 6500 and Local 2020 met with Vale to watch a video describing the company’s current situation.

Sullivan says Vale management wanted union reps to see the video before showing it to workers. “There’s a lot of pressure on the business locally,” says Sullivan. “They’re reviewing their operations, looking at where they can save and contain costs, and they’re very clear in the video that this could mean layoffs.”

Sullivan says the company’s bottom line has been affected by low nickel prices. Meanwhile, management is looking to make Sudbury operations self sustaining. “They have to make enough money not just to profit from their mines, but enough to re-invest and develop new mines and new ore bodies,” says Sullivan. Continue Reading →

UPDATE 2-Strong rouble, one-off expenses hit Russia’s Nornickel’s H1 earnings – by Polina Devitt (Reuters India – August 15, 2017)

https://in.reuters.com/

MOSCOW, Aug 15 (Reuters) – Russia’s Norilsk Nickel reported a 3 percent fall in first-half core earnings on Tuesday, missing analysts’ forecasts, due to a stronger rouble and a jump in social expenses. The mining giant, known as Nornickel, said “one-off” costs lifted its social expenses to $196 million in the first half from $57 million a year ago.

This included the second tranche of a previously announced investment in a ski resort used in the 2014 Sochi Olympics and the provisional cost of a long-term social agreement with the Zabaikalsky region, where some of its deposits are located.

Its first-half earnings before interest, taxation, depreciation and amortisation (EBITDA) fell 3 percent year on year to $1.7 billion. Analysts polled by Reuters had expected first-half EBITDA at $1.8 billion. Continue Reading →

[Sudbury Vale] Layoff talk premature, Bertrand says – by Jim Moodie (Sudbury Star – August 15, 2017)

http://www.thesudburystar.com/

Vale may have to make some hard decisions in coming months regarding its operations in Sudbury, but the head of a local union says it’s premature to talk about job losses.

“In this case right now, there’s no numbers,” said Local 6500 president Rick Bertrand. “We’ve asked them straight out, is there going to be any layoffs of any kind, because there’s so many people talking about different numbers. What we got from the company is that there is not a number, they don’t have a number.”

Bertrand also said there has been no membership meeting to discuss layoffs, as The Star earlier reported, citing a source. “That’s totally not true,” he said. Concerns grew among workers over the past week after they were shown a Vale video suggesting tough times lie ahead. Continue Reading →

Vale looking at layoffs in Sudbury – by Staff (Sudbury Star – August 12, 2017)

http://www.thesudburystar.com/

Vale Ltd. employees in Sudbury are bracing for possible layoffs after viewing a company video in recent days they say warned that the Brazil-based mining giant could soon be making cuts. “It seemed like a threat,” said one source, who requested anonymity. “It’s coming right from Brazil.”

Another source, also a Vale employee, told The Star he had also seen a company video in recent days that warned of possible reductions. He said he came away with the impression there would be “significant” job losses.

The sources say they have been given no details of how many jobs will be cut or when, or if layoffs would be permanent or temporary, but that they could affect members of both Local 6500 and Local 2020 of the Steelworkers. Local 6500 represents production workers, while Local 2020 represents office, clerical and technical staff in Sudbury. Continue Reading →

Sudbury Basin: Still a fascinating place – by Karen McKinley (Northern Ontario Business – August 10, 2017)

https://www.northernontariobusiness.com/

Sudbury Basin and areas northeast still offer up mineral riches after a century of mining, says new Sudbury District Geologist

The Sudbury Basin, Sudbury Mining District and surrounding area still has a lot to offer for mining, according to the new district geologist. “The basin has always been a fascinating place for geologists,” said Shirley Peloquin at the Ontario Geological Survey office inside the Willet Green Millar Centre.

“It’s still proving to be a very rich place for nickel and other reserves of minerals and this could go on for decades. As demand shifts for other minerals prevalent in the area we are always mapping, surveying and cross-checking with historical data. We are always finding new deposits.”

She explained much of the underground of the basin, as well as areas northeast of the basin to the Quebec border, are largely untapped. Much of the focus has been on the easier to extract surface deposits. From a casual view it would look like deposits are dwindling, but the opposite is true. Continue Reading →

The green economy needs Minnesota mining – by U.S. Rep. Rick Nolan (Minneapolis Star Tribune – August 9, 2017)

http://www.startribune.com/

Rick Nolan, a Democrat, represents Minnesota’s Eighth Congressional District in the U.S. House.

Counterpoint: Copper and nickel play a role in today’s climate fight, so why not mine them safely right here? That’s what my land exchange is about.

Mining copper and nickel on Minnesota’s Iron Range and addressing global climate change are compatible, complementary and essential to our way of life. We have the brains, the technology and the need to do both.

If we attempt to do one without the other, we will end up with neither (“PolyMet is just feeding Minnesotans a line on proposed mine,” July 21). The survival of humankind rests on our willingness to embrace all of the knowledge and resources at our disposal to reverse climate change — including the vast deposits of strategic minerals in northeastern Minnesota. We owe future generations no less.

In fact, there would be no viable green economy and no effective means to reverse climate change without mining. Consider the rapid development and deployment of electric and hybrid vehicles. Continue Reading →

Glencore turns bigger copper, zinc price bull: Nickel not so much – by Frik Els (Mining.com – August 10, 2017)

http://www.mining.com/

Miner and commodities trader Glencore (LON:GLEN) raised its revenue and profit outlook for the year on Thursday with the Swiss company citing the fast-growing electric vehicle market as a key driver.

“Most automotive players are now accelerating investment in/adoption of electric vehicle technologies, reflecting, in part, increasingly aggressive Government mandates around emission targets.

Growth in electric vehicle/energy storage systems requires changes in material flows, including the installation, rebuild and replacement of supporting infrastructure. Based on current and emerging technologies, these changes should benefit enabling commodities such as copper, cobalt and nickel,” Glencore said in a statement accompanying its half-year results. Continue Reading →

Sprott Conference: Friedland pitches metals used in electric vehicles – by Lesley Stokes (Northern Miner – August 8, 2017)

Global mining news

VANCOUVER — The electric car revolution is accelerating, and so will the demand for metals that make them work, Robert Friedland, executive chairman of Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) said during a presentation at the Sprott Natural Resource Symposium in Vancouver in late July.

In what has become a recurring topic in his presentations, Friedland stated that continued rapid urbanization, combined with efforts to fight air pollution, will lead to the ramping up of electric vehicle production. And the demand for the metals needed to build them — including copper, platinum, palladium, zinc, nickel and cobalt — will rise as a result.

“This is an era of unprecedented change, it’s really happening,” Friedland said. “The handwriting is on the wall. For those of you who deny this phenomenon, you’re going to miss this massive disruption opening soon at a theatre near you.” Continue Reading →

BMI says outlook for Russian nickel sector bleak – by Staff (MiningWeekly.com – August 3, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – Fitch group company BMI has lowered its forecast for Russian nickel production in 2017, and says the outlook for the country’s domestic production over the next five years looks bleak.

BMI stated this week that Russia’s nickel production would remain on a negative trend this year, following a contraction of 4.8% year-on-year in 2016, citing ongoing operational challenges at Norilsk Nickel mines, which account for more than 80% of domestic output.

“We have revised down our previous forecast of 1% average nickel production growth this year to a decrease of 5%, meaning absolute production in the country will drop from 256 000 t in 2016 to 243 000 t in 2017,” the company said. Continue Reading →

PRESS RELEASE: Clean Energy Transition Will Increase Demand for Minerals, says new World Bank report (The World Bank – July 18, 2017)

For the report: http://bit.ly/2uFGrnD

WASHINGTON, July 18, 2017 – A new report released today by the World Bank highlights the potential impacts that the expected continuing boom in low-carbon energy technologies will have on demand for many minerals and metals.

Using wind, solar, and energy storage batteries as key examples of low-carbon or “green” energy technologies, the report, “The Growing Role of Minerals and Metals for a Low-Carbon Future” examines the types of minerals and metals that will likely increase in demand as the world works towards commitments to keep the global average temperature rise at or below 2°C.

According to the report, minerals and metals expected to see heightened demand include: aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals such as indium, molybdenum, and neodymium. The most significant example is electric storage batteries, where the rise in relevant metals: aluminum, cobalt, iron, lead, lithium, manganese, and nickel—grow in demand from a relatively modest level under 4°C to more than 1000 percent under 2°C. Continue Reading →

Copper in, nickel out — Vale (Reuters/Sudbury Star – July 28, 2017)

http://www.thesudburystar.com/

RIO DE JANEIRO — Brazilian miner Vale SA (VALE5.SA) said on Thursday it would seek out fresh copper mining options and stop expanding nickel production capacity after second-quarter net income plunged on forex losses, rising costs and weaker iron ore prices.

Net income tumbled 99 per cent to $16 million from $1.1 billion a year earlier, far below an average estimate of $421 million.The world’s largest iron ore miner kept making slow progress on cutting net debt, which slipped 3 per cent in the three months through June to $22.12 billion – still a far cry from a target of $15 billion to $17 billion by year-end.

Fabio Schvartsman, who took over as CEO in May, said the company was aiming for $15 billion in net debt in 2018, adding that a company reliant on volatile commodity prices should ideally not be carrying debt at all. Continue Reading →