Beursonline.nl

voda 13 november 2019 16:43

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Nickel Asia 9 months Profit Down on Weak Prices

Nickel Asia Corp said that its net profit fell 43% in the nine months to September due to weak nickel prices as well as a stronger peso and investments in loss-making processing plants. In a disclosure, the miner said it booked a PHP 1.917 billion in its preferred form of reporting profit net income attributable to equity holders against PHP 3.366 billion a year earlier. It said earnings before interest, tax, depreciation, and amortization declined 24% to PHP 4.60 billion.

Nickel Asia said that “The drop in the company’s earnings is mainly due to a combination of a weaker average nickel ore price, a stronger peso and the company’s share of losses from its investment in both the Coral Bay and Taganito processing plants.”

Source : Strategic Research Institute

voda 20 december 2019 14:11

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Indonesia Defends Nickel Ore Export Ban

Indonesia’s Coordinating Maritime Affairs and Investment Minister Mr Luhut Binsar Pandjaitan has said Indonesia will fight the European Union's lawsuit on the country’s nickel export ban. He said "As it stands, 98 percent of nickel ore is exported to China while Europe takes only 2 percent. So why do you say I’m defending China? Don't ever let any country dictates Indonesian policy.”

Mr Luhut's statement follows the November 22 filing of an EU lawsuit challenging Indonesia’s nickel ore export ban through the World Trade Organization. The suit said the ban was against WTO rules. EC said “The restrictions unfairly limit access by EU producers to raw materials for steel production, notably nickel, as well as scrap, coal and coke, iron ore and chromium.”
The Energy and Mineral Resources Ministry introduced the nickel export ban to push local extractors to refine the ore domestically and export higher-value commodities. The ban will take effect in January 2020, two years earlier than previously planned. As the world’s largest nickel producer, having extracted a quarter of the global nickel supply last year, Indonesia has shocked foreign manufacturers including those in China, Europe and Japan.

Source : Strategic Research Institute

voda 7 januari 2020 20:32

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World Nickel Production and Consumption - DIIS

Australia’s Department of Industry, Innovation and Science’s Resources and Energy Quarterly December 2019 said “China's manufacturing supports consumption growth. In 2019 world nickel consumption is estimated to be 2.4 million tonnes — 2.5 per cent higher than in 2018. This is slower than recent years. 3S growth h3s been weighed down by deteriorating world economic conditions. China accounts for more than half of world nickel consumption, and in the year to September, nickel consumption grew 13 per cent compared to the same period in 2018. Stainless steel production, the largest use of nickel, has been stagnant in most countries except for China. World nickel consumption excluding China fell 2.9 per cent in the year to September, primarily due to lower consumption in Japan and flat consumption in Indonesia.

Healthy consumption growth expected over outlook period World nickel demand is forecast to grow at an average 2.0 per cent a year over the outlook period, reaching 2.5 million tonnes in 2021. Higher usage in China is expected to account for most of this growth. However, China nickel pig iron processing is heavily reliant on imports of Indonesian nickel ore which may be constrained by export restrictions. Usage in Indonesia is expected to continue growing, with downstream investment in nickel smelting capacity and expanding stainless steel manufacturing. Partly supported by Indonesia's export ban 6,500 tonnes of new stainless steel capacity is expected to come online in Indonesia over the outlook period.

Nickel used in batteries is currently a small market, accounting for about 3 per cent of nickel usage. However, growth in stationary energy storage and electric vehicles is expected to raise nickel usage, particularly as nickel intensity in battery chemistry rises. The potential growth prospects are significant — Bloomberg New Energy Finance forecasts nickel used in batteries could rise by over 20 per cent a year over the outlook period.
Strong consumption forecasts are expected to outpace production growth and leave markets in continued deficit — although the production outlook is very uncertain with a number of political factors at play.

WORLD PRODUCTION

In 2019, mined nickel output is estimated to have reached 2.8 million tonnes, 7.0 per cent higher than 2013. Nickel output has been incentivised by strong price signals and prospective consumption growth, and Indonesia has accounted for most of this growth. Production from the Philippines, the world's third largest producer, has been constrained in 2019. Increasing environmental standards and government audits have led to a number of open pit mines being temporarily closed, and there is potential for the policy to be extended. Mine output is forecast to decline slightly in 2020 before recovering to 2.0 million tonnes in 2021.

Investment in refinery capacity is expected to support further growth over the outlook period, with refined production forecast to reach 2.4 million tonnes by 2021 up from an estimated 2.3 million tonnes in 2019. There is a potential 130,000 tonnes of new refined nickel capacity being considered in China that could come online over the outlook period as well as 90.000 tonnes of capacity in Indonesia. The progress of these projects will be dependent on nickel prices maintaining current strength.

Indonesia's export ban to change market fundamentals Announcements relating to Indonesia's ban on the export of unprocessed nickel had a significant impact on market sentiment in the second half of 2019. The policy is designed to force the development of downstream refining capacity in Indonesia, including nickel pig iron and stainless steel capacity, as well as potential battery manufacturing. In late August, the Indonesian Government announced that nickel ore exports will be banned from January 2020 earlier than the original 2022 start date. This resulted in price hikes, a rush to increase exports and a lowering of warehouse stock levels. China's imports of unprocessed nickel jumped following the announcement, increasing 56 per cent year-on-year in September.

In late October, the Indonesian Government placed an immediate ban on exports in response to the spike in exports. For companies that could prove sufficient investment in downstream processing capacity, the export ban was lifted in mid-November.

Removing Indonesia's nickel output from the world market is expected to have significant impacts on world supply, and constrain refinery activity in China. In the past the loss of Indonesia’s exports has been accommodated by higher Pilipino production. However, this production is likely to be constrained by capacity limits and seasonal factors.

Voor cijfers, zie pdf.

Source : Strategic Research Institute

Bijlage:

voda 1 oktober 2020 15:09

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Norilsk Nickel Increases Investment in Industrial Safety

Norilsk Nickel announced plans to increase its investment program aimed at modernizing the fuel and energy complex in 2020-2024. by more than 100 billion rubles. The plans include the expansion of a large-scale energy infrastructure investment program in Taimyr, which was launched to provide energy resources for new growth projects. An additional focus of the program will be to improve the industrial safety level of all facilities, including those built on permafrost.

The expanded investment program includes the replacement of equipment at thermal and hydroelectric power plants, the modernization of the power grid and gas transmission complex, as well as the technical re-equipment of the tank farm.

Source : STRATEGIC RESEARCH INSTITUTE

DeZwarteRidder 19 oktober 2020 18:00

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seekingalpha.com/article/4246690-top-...

DeZwarteRidder 18 maart 2021 11:58

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Nieuw procedé zorgt voor toestroom metaal naar Tesla
Slimmigheid China nekt recordtarief voor nikkel

Door Theo Besteman
Updated Gisteren, 22:22
Gisteren, 22:19 in FINANCIEEL

AMSTERDAM - Batterijauto’s zitten vol nikkel. De toenemende populariteit van de elektrische auto werkt schaarste in de hand, en dus topprijzen voor het cruciale onderdeel. De nikkelprijs gaat bij $20.000 per ton door het dak. Maar alles verandert na een posting eind februari van een Chinese staalreus op WeChat. Reconstructie van een ongekende prijsdaling.

In de batterij van een nieuwe Tesla M3-model zit zo’n 30 kilogram nikkel. „Nikkel is onze grootste zorg voor het opschalen van de productie van lithiumion-batterijen”, twittert Tesla-topman Elon Musk op 25 februari over het metaal dat een nieuw prijsrecord zet. Het zilverkleurige nikkel is sterk, geleidt makkelijk veel elektriciteit in grote batterijen en kent beperkte aantasting door corrosie.

Dankzij nikkel worden batterijen kleiner en wegen minder. Het zit ook in de kleine batterijen van de afstandbediening, telefoons, koelkast tot wasmachine. Speculanten sorteren al jaren voor op die schaarste.

Aan die verwachting komt plots een einde als de Chinese staalreus Tsingshan Holding uit Wenzhou, nota bene via WeChat, zijn uitvinding openbaart: een nieuw chemisch procedé waarmee het eenvoudig veel meer hoogwaardig nikkel voor alle batterijautobouwers kan toevoegen.

De Tsingshan-groep, ’s werelds grootste producent van roestvast staal, kondigt op WeChat ook twee reeds afgesloten contracten met Chinese batterijleveranciers Huayou Cobalt en CNGR Advanced Material aan. Direct daalt de nikkelprijs met 17%. Want Tsingshan denkt alleen volgend jaar al 850.000 ton nikkel te leveren, tegen dit jaar 600.000 ton. En 1,1 miljoen ton in 2023. Het voert ook zijn mijnbouwproductie voor nikkel in Indonesië op.

De mijnbouwwereld schudt even op zijn grondvesten. „De wereldmarkt ging er tot dan toe vanuit dat er een stevig tekort aan nikkel zou zijn, mogelijk nog voor vele jaren”, vat grondstoffenanalist Casper Burgering van ABN Amro het tumult samen.

Paniek

Tsingshans procedé klopt, oordeelt Celia Wang, de nikkelspecialist bij dataleverancier Mysteel na controles. „Dit zal de prijs gaan drukken”, zegt Michael Cuoco van het beleggingsfonds StoneX, gespecialiseerd in grondstoffen. Wenya Yao, een grondstoffenanalist van ING in Singapore, meldt dat Tsingshans aanpak een heuse gamechanger kan worden. Er komt veel kwalitatief goed nikkel naar autobouwers toe, stelt zij.

„Deze prijsdaling is fors. Maar je moet die wel in perspectief zien”, zegt Burgering van ABN Amro. Zo’n batterij bestaat voor hooguit 4% uit nikkel. „Er gaat vele malen meer nikkel in roestvast staalproductie voor consumentenproducten bijvoorbeeld. Maar evengoed, de markt kijkt nu erg naar de toename van populaire batterijauto’s, het sentiment is door de aankondiging van Tsingshan enorm sterk veranderd. Die heeft voor een schok in het systeem gezorgd. En dat vertaalt zich nu in de lagere prijs.”

Bij de hedgefondsen die zijn gespecialiseerd in grondstoffen zag persbureau Bloomberg na de aankondiging van Tsingshan lichte paniek. Hun beleggingen waren al jaren gericht op een gestaag verdere stijging van de nikkelprijs door de beperkte toelevering uit mijnen. Dankzij de technologie van Tsingshan lopen hun verwachte verdiensten de deur uit. Ze verkochten nikkelbeleggingen massaal.

voda 13 augustus 2021 11:19

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Fitch affirms Nornickel’s ratings, nickel demand to stabilise
133 Views

Fitch Ratings has affirmed Nornickel’s long-term issuer default rating (IDR) and senior unsecured rating at 'BBB-'. The outlook on the IDR is stable.

“The rating reflects the company’s large scale, diversification across nickel, copper and cost leadership underpinned by a significant, low-cost polymetallic mineral resource base,” the credit rating agency says in a note seen by Kallanish.

Fitch views the ongoing metals price rally as unsustainable, and expect them to ease towards end-2021 and further to more sustainable levels in 2022-2023.

“We expect expects palladium to remain the only metal in Nornickel’s basket to exhibit a deficit over the medium term, while nickel would return to a modest surplus and copper remain balanced in the short term. Nickel's robust battery-driven demand growth will be offset by Indonesian exports,” the agency observes. “In longer term, wider electrification will drive nickel use in batteries and copper use in electric energy infrastructure and electric vehicles.”

Palladium demand is unlikely to be subdued before 2025, when gasoline or hybrid cars transition more visibly to non-internal combustion engine electric vehicles, which do not require platinum-group metals for catalytic converters, Fitch says.

Nornickel’s output guidance for 2021 has been revised down by 16%-20% shortly after flooding caused temporary suspension at its Oktyabrsky and Taimyrsky mines, accounting for more than a third of the company’s output.

Taxation pressure on Russian metals and mining companies may continue rising in medium term as the Russian government seeks to share the taxation burden across industries, Fitch says.

Earlier, Nornickel’s consolidated revenue in the first half of 2021 increased by 33% on-year to $8.9 billion owing to higher metal prices and an increase in palladium sales volumes, which more than offset production losses caused by the temporary suspension of Oktyabrsky and Taimyrsky mines due to their flooding and Norilsk concentrator, following an incident in February this year.

Nornickel decreased nickel and copper production in the first half of the year due to accidents at its key facilities. In January-June, nickel production fell by 26% on-year to 79,283 tonnes. Copper output amounted to 172 692 t, down by 28%.

The enterprise foresees to produce this year about 190,000-200,000 t of nickel and 335,000-355,000 t of copper, excluding Bystrinsky GOK.

Svetoslav Abrossimov Bulgaria

voda 13 augustus 2021 11:19

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NICKEL: Nornickel’s revenue increases despite production accidents
259 Views

Russian mining company Nornickel’s consolidated revenue in the first half of 2021 increased by 33% on-year to $8.9 billion owing to higher metal prices and an increase in palladium sales volumes, which more than offset production losses caused by the temporary suspension of Oktyabrsky and Taimyrsky mines due to their flooding and Norilsk concentrator, following an incident in February this year.

Ebitda increased three-fold on-year to $5.7 billion due to higher revenue and lower base effect in H1, when $2.1 billion environmental provision related to the diesel fuel spill in Norilsk industrial area in May 2020 was recognised, Kallanish notes.

After the water inflow to the underground mines was effectively stopped in late March, the Oktyabrsky mine resumed full production by the middle of May, while the Taimyrsky mine has been restored to 80% capacity and is expected to return to full capacity by the end of this November. Norilsk concentrator has reached 85% of its design capacity and is expected to return to full operations in early October this year.

In July 2021, Nornickel got a lawsuit from the Federal Agency for Fishery (Rosrybolovstvo) for RUB 58.7 ($806 million) in compensation for an Arctic fuel spill last year.. Based on the preliminary analysis the Nornickel believes that the amount of damages in monetary terms by Rosrybolovstvo is overstated.

“It exceeds by many times the results of investigations carried out by specialsed scientific institutions and experts, which have assessed the impact of this incident on aquatic bioresources,” the company claims. “After completion of the analysis of the lawsuit, management plans to defend position of the company in court and provide it’s calculation of damages.”

Nornickel decreased nickel and copper production in the first half of the year due to accidents at its key facilities. In January-June, nickel production fell by 26% on-year to 79,283 tonnes. Copper output amounted to 172 692 t, down by 28%.

The enterprise foresees to produce this year about 190,000-200,000 t of nickel and 335,000-355,000 t of copper, excluding Bystrinsky GOK.

Earlier, Nornickel’s president and co-owner of the company Vladimir Potanin said that his company could lose $500m after the introduction of new Russian export duties for non-ferrous metals of at least 15% from 1 August to 31 December. Export duty rates for copper will be $1,126/t and for nickel $2,321/t.

Svetoslav Abrossimov Bulgaria

voda 17 augustus 2021 12:34

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NICKEL, COPPER, COBALT: Talon Metals reports CAD 2.2m loss
153 Views

Talon Metals, the company behind the developing Tamarack nickel-copper-cobalt project in Minnesota, reports a net loss for the quarter ending 30 June, 2021, of CAD 2.2 million ($1.75m), Kallanish reports.

That net loss was due primarily to administrative expenses and stock option compensation, says the company with headquarters in the British Virgin Islands. That compares to a net loss for the Q2 2020 of CAD 0.3m, due largely to administrative costs, it says.

The capitalised exploration costs and deferred expenditures on the Tamarack project for the quarter amounted to CAD 7.7m. That compares to CAD 1.3m for Q2 2020. The total capitalised exploration cost of the Tamarack project through 30 June is CAD 73.2m. the company reports.

Bob Downing USA

voda 17 augustus 2021 12:34

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NICKEL, COBALT: LGES to offtake 100% production of Sconi project
137 Views

South Korean battery manufacturer LG Energy Solution (LGES) announced Monday a long-term offtake agreement for nickel and cobalt materials with Australian Mines Limited, Kallanish reports.

Under the deal, LGES will secure 100% production of Australian Mines’ $1.5 billion Sconi project in North Queensland. This translates into 71,000 tonnes of nickel and 7,000 t of cobalt in the form of mixed hydroxide precipitate (MPH), which is a nickel and cobalt-containing intermediate product that can be used as a raw material input for lithium-ion battery production.

According to Australian Mines, the six-year binding agreement is subject to the firm securing financing for construction by 30 June 2022 – or later if the parties agree. Supply should start as early as 1 July, 2024, or up to six months later.

Pricing for the material, which will enable the production of 1.3 million EVs, will be on a US dollar cif basis linked to market prices quoted on LME for nickel and Fastmarkets MB for cobalt, using a pricing formula.

LGES says its cooperation with Australian Mines will help it “gain an upper hand in securing stable supply of key ingredients for EV batteries, as a race to procure raw materials for EV batteries became fierce amid growing global demand for EVs.”

Another advantaged highlighted by the battery maker was the sustainability of the project, which will use dry stacking to store filtered tailings, rather than the conventional method using ponds and dams for storage. LGES notes that despite being more costly, the process is more environmentally friendly as avoids the possibility of dam failure and long-term storage issues.

Australian Mines is also a member of the Initiative for Responsible Mining Assurance (IRMA), contributing to a higher environmental, social and corporate governance credentials for LGES.

Gabriela Farhangi UK

voda 17 augustus 2021 12:36

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NICKEL: Podeidon Nickel reports good widths, grades at Golden Swan
90 Views

Australia-based Poseidon Nickel reports nine additional high-grade mineralisation intercepts at its Golden Swan nickel sulphide target at its Black Swan project in Western Australia, Kallanish reports.

The nine drillholes included 12.5 metres at 2.96% nickel and 5.7 m at 5.96% nickel from 202.3 m including 0.62 m at 8.46% nickel from 202.79 m and 2.06 m at 7.7% nickel from 204.5 m including 9.5 m at 13.7% nickel from 205.9 m.

“The latest batch of assays have some good widths and grades including some very high-grade intervals which will bulk up the tonnes in the mineralised zone,” says managing director and ceo Peter Harold in a statement. The latest results confirm that the Golden Swan is a high-grade mineralised zone, the company says. That Golden Swan mineralised zone drilling began last April and was completed in late July with 60 holes drilled with a total of nearly 16,000 m.

The company said it intends to prepare a maiden resource estimate, once all assay results are completed by SGS. That report by Optiro Pty Ltd is likely in late in the September quarter, it says. About nine assays are still pending.

The company is now seeking more Golden Swan-type mineralised zones and has restarted drilling to test the up-plunge topography of the Southern Terrace area with four planned drill holes totalling 2,250 m. It is also looking to start the Silver Swan reserve upgrade drilling programme in the near future to increase the high-grade nickel inventory at Black Swan.

The company is targeting a final investment decision on its Golden Swan project by late 2021 with first mining expected in early 2022 and first saleable production by mid-2022. The Golden Swan discovery holds the key to the company’s plans to accelerate the restart of the nearby Black Swan mine project. The company is trying to build a sufficient high-grade inventory at Black Swan to allow mining to resume after a 10-year hiatus. Poseidon acquired the Black Swan project in 2014. It includes the Black Swan open pit mine and the Silver Swan underground mine plus a concentrator. It is located about 965 kilometres east of Perth in Western Australia.

Bob Downing USA

voda 17 augustus 2021 13:32

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Higher shipments push up FNI's H1 performance
1 Views

Global Ferronickel Holdings, Inc. (FNI), a Philippine nickel ore producer, achieved more favorable results in the first half of this year driven by a substantial increase in shipments and an increase in nickel ore prices, Kallanish notes.

In the first half of 2021, the company's revenue increased by 68.9% year-on-year to PHP 2.61 billion ($51.72 million), including ore sales of PHP 2.48 billion during the same period. For H1, FNI's attributable net income improved by 226.3% to PHP 641.86 million from PHP 196.69 million a year ago. However, the cost of sales also rose 23.1% to PHP 837.81 million in the first half.

FNI completed a total of 32 ships of nickel ore shipments in H1, a strong increase from the 23 ships in the same period in 2020. Shipment volume increased by 38.3% compared with the 1.258 million wet metric tonnes in H1 2020 to 1.74 million wet metric tonnes (wmt).

Exports to China consisted of 1.465m wmt of low-grade nickel ore and 275,000 wmt of medium-grade nickel ore. The resulting sales mix is 84% low-grade ore and 16% medium-grade ore in 2021 compared to 52% low-grade ore and 48% medium-grade ore in the previous year, FNI said.

Over the whole of 2021, FNI aims to ship 6m wmt of nickel ore, including 70% low-grade nickel ore and 30% medium-grade nickel ore.

By Kallanish Team

voda 24 augustus 2021 09:56

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NICKEL, COPPER, COBALT: Nickel Creek completes exploratory drilling in Yukon
138 Views

Ontario-based Nickel Creek Platinum reports that it has completed its 2021 exploratory drilling and geophysics programme at its flagship nickel-copper-cobalt-platinum-palladium Nickel Shaw project in Canada’s Yukon Territory, Kallanish reports.

The programme included 12 drillholes with a total of 1,300 metres drilled at the Arch and Burwash targets which had been identified from the 2020 geophysics surveys, the company says. Borehole and localised ground-based geophysics were completed on four of the 12 drillholes, it says. Assay results from the latest drilling should be completed and released in the fourth quarter 2021, it says. Two holes had been drilled earlier.

The Toronto-based company has identified 42 conductive anomalies including 11 anomalies determined to be potentially massive nickel-copper sulphides. The Arch and Burwash target areas are on trend and 2 km and 5 km, respectively, from the main Wellgreen deposit. The main strike extends 29 km.

Nickel Shaw project is located in the southwest Yukon Territory. The project is about 317 km northwest of the city of Whitehorse and within the territory of the Kluane First Nation. It has measured and indicated resources of 323.4 million tonnes averaging 0.26% nickel, 0.16% copper and 0.015% cobalt, plus platinum and palladium. It also has inferred resources of 108.1m t averaging 0.29% nickel and 0.15% copper. The project is projected to produce 2 billion pounds of nickel, 1 billion lbs of copper, 120m lbs of cobalt and 6m ounces of platinum metals.

Bob Downing USA

voda 24 augustus 2021 09:57

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NICKEL: Noront backs BHP’s takeover offer in Wyloo row
133 Views

Canadian nickel miner Noront Resources has refuted “several misleading statements” from its largest shareholder Wyloo Metals amid a takeover deal with BHP, Kallanish reports.

The Australia-based company, which owns around 23% of Noront, said on 19 August it will refuse to sell its shares to BHP. Owner Andrew Forrest also suggested he could return with an increased competing offer if Noront opened its books for due diligence.

Responding to the statement, Noront says it needed to clarify its proposed acquisition by BHP Western Mining Resources International. The Toronto-listed firm reiterated its support for BHP’s bid and recommended shareholders to accept the cash offer.

BHP topped Wyloo’s offer to acquire Noront in July, giving the price of CAD 0.55 ($0.43) per Noront share. This is 75% higher than Wyloo’s CAD 0.31/share offer and a premium of 129% over Noront’s closing price on 21 May – when Wyloo made public its proposed acquisition.

Noront claims Wyloo declined to enter into a customary confidentiality agreement to have access to due diligence information, just like BHP did. It indicates that if Wyloo wants to proceed with its proposed takeover, then it should up its offer price.

“If Wyloo remains interested in engaging with Noront, the support agreement entered into between Noront and BHP contains customary terms that permit the company to engage with, and provide confidential information to, a party that makes a proposal to the company that is superior to the offer or would reasonably be expected to lead to a superior proposal. To date, the company has received no such proposals,” Noront explains.

The Australian company can’t stop the deal from going ahead, as the minimum tender condition for the offer is that more than 50% of the shares not owned by BHP be tendered to the offer.

“This condition can be satisfied regardless of whether Wyloo tenders its Noront shares to the offer,” says Noront.

BHP and Noront have until 9 November to close the deal before the offer expires. Cash-strapped Noront believes the proposal is “fair” and provides the best financial return to its shareholders, which also include China’s Baosteel (5.4%).

BHP has the financial strength to advance Noront’s Eagle’s Nest nickel-copper-platinum-palladium project in the Ring of Fire region in northern Ontario. The project is still several years from beginning production.

“This is a win-win for both BHP and Noront shareholders,” BHP chief development officer Johan van Jaarsveld said in a statement last month. Acquiring Noront is a “world-class growth option in a key future-facing commodity,” he says, adding that the company could expand operations in the Ring of Fire region in the future.

The Ring of Fire region is a developing multi-metals area in the James Bay Lowlands of northern Ontario. Noront, with headquarters in Toronto, Ontario, also has the Blackbird, Black Thor and Big Daddy chromite deposits in the region.

Gabriela Farhangi UK

voda 25 augustus 2021 11:15

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NICKEL: Stainless set to lose nickel dominance to EVs
142 Views

Stainless steel is set to lose its position as the primary driver of global nickel pricing, concludes a report by Bank of America.

Nickel is currently at a multi-year high, the bank says - or $18,895/tonne, according to the London Metal Exchange. Concurrently, global stainless output hit a record in the third quarter of 2020 “...and has continued to post a series of highs since,” the report states.

However, while stainless currently enjoys a 70% chunk of the nickel market, that position is being challenged by the growth of the electric vehicle industry, Kallanish understands.

“While the rebound of stainless production has been key to the nickel market in recent months, electric vehicles (EVs) are set to become the key demand driver in the coming years,” Bank of America says. “Indeed, sales of electric vehicles should increase gradually, reaching a penetration rate of 51% by 2030E. Given the current battery technology, implications for consumption are relatively straightforward, with offtake expected to be increasing to just under 1.8 million t by 2030, compared to around 200,000 t this year.”

Much of that added nickel is likely to come from Indonesia, the bank adds.

“Reduced consumption of Class 1 nickel by the stainless steel mills may make more nickel units available to car manufacturers; rising scrap usage is one way this could be facilitated,” it says. “That said, ultimately, miners will need to produce more Class 1 and perhaps less Class 2 nickel to make sure the metal will not turn into a constraint to the EV industry. Indonesia, with its resources, will likely remain key to accomplishing that.”

Dan Hilliard USA

voda 26 augustus 2021 06:57

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NICKEL, COPPER: Fortescue, Tsingshan may pump over $40 billion into Indonesia: minister
166 Views

Indonesia is set to attract at least $40 billion in investments in an industrial estate for metal smelting near the planned Kayan hydropower plant on Borneo island, its government said.

The project in North Kalimantan was first announced by Indonesia’s coordinating minister for maritime affairs and investment Luhut Pandjaitain in March. This week, the official said a presentation that Australia’s Fortescue and China’s Tsingshan could invest $12 billion and $30 billion, respectively, to smelt iron ore, nickel and copper.

As much as $100 billion could be invested in Borneo, with investment including the dam and set to be completed in 10 years, the minister said. Groundbreaking on the project is slated for October, Kallanish understands.

The smelting plant could be commissioned as early as 2023, and would support Indonesia’s efforts to make the country an EV battery hub, using its abundant nickel reserves.

Tsingshan is expanding its nickel production capacity in Indonesia to meet demand from the battery sector. It can now produce battery-grade nickel matte from nickel pig iron, expanding its market reach from the traditional stainless steel sector.

Fortescue Future Industries (FFI) is currently conducting studies on potential projects in Kalimantan, although the company hasn’t confirmed any investment figures.

Gabriela Farhangi UK

voda 29 maart 2022 07:12

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Vale to Supply Nickel to Northvolt for Batteries

Strategic Research Institute
Published on :
29 Mar, 2022, 6:30 am

Vale announced that Vale Canada and lithium-ion battery producer Northvolt AB announced a multi-year agreement for Vale to supply low-carbon nickel products to Northvolt, reinforcing the companies’ shared commitment to sustainability in the electric vehicle supply chain and electrification of the broader mining industry.

The agreement reaffirms Vale’s position as a supplier of choice to the fast-growing electric vehicle industry and aligns with Northvolt’s imperative to minimize carbon emissions and other environmental impacts in the battery value chain.

Vale is a leading global producer of low-carbon and high purity nickel products. Rounds from the company’s Long Harbour refinery in Newfoundland and Labrador, Canada, have a verified carbon footprint of 4.4 tonnes CO2 equivalent per tonne of nickel – about one-third the Nickel Institute average for Class 1 nickel.

Bijlage:

DeZwarteRidder 4 april 2022 14:59

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Zonder Russische metalen loopt het raderwerk vast
Han Dirk Hekking 10:55

Vooruitblikkend en verdiepend: dit is de wekelijkse dosis Europamania — alles wat je moet weten over ontwikkelingen in Europa. In deze editie: de Duitse verslaving aan Russische producten, de winst van Viktor Orbán en een ultrakorte voetbalwedstrijd in Frankrijk.

1. Op zoek naar een nieuwe nikkeldealer

Na de Russische gruweldaden in de Oekraïense stad Boetsja is de druk op EU-lidstaten om hardere sancties tegen Moskou te treffen alleen maar toegenomen. Maar Duitsland en Nederland verzetten zich als mensen beginnen over een boycot van Russische olie en gas.

Terwijl Duitse economen mogelijkheden voor zo'n sanctie zien, stribbelt de Duitse industrie heftig tegen. Zonder Russisch gas gaan we een economisch armageddon tegemoet, waarschuwde bijvoorbeeld topman Martin Brudermüller van chemieureus BASF (lees het verhaal van FD-correspondent Gerben van der Marel).

Maar het kan altijd nog erger, zo blijkt uit een zondag verschenen notitie van de aan de Duitse werkgevers gelieerde denktank IW. Rusland is voor Duitse bedrijven een cruciale leverancier van nikkel, chroom, palladium en cadmium, zo licht de organisatie toe. Zo'n 40% van het nikkel dat Duitsland in 2019 importeerde, kwam uit Rusland. Voor palladium is dat 25%, voor chroom 20% en voor cadmium 14%.

Op zich is Indonesië ook een grote producent van nikkel, om niet te zeggen dat Jakarta de grootste producent ter wereld is. De Indonesiërs kunnen een eventueel gat dat Rusland laat ontstaan best simpel oplossen. Maar hier stuiten we op het probleem dat Indonesië de afgelopen jaren de export van nikkel aan banden heeft gelegd. Het land wil zelf een nikkelindustrie opzetten.

De EU heeft vanwege de Indonesische exportrestricties sinds 2021 een klacht tegen Indonesië lopen bij de Wereldhandelsorganisatie (WTO). Pas eind van dit jaar ligt er een uitspraak, zo is de verwachting, en wat die is, weet niemand. Ondertussen is de nikkelmarkt ernstig volatiel (lees het verhaal van FD-redacteur Jeroen Groot).

Wat is wijsheid? Meer internationale handelsverdragen sluiten, zeggen de IW-onderzoekers. Tracht nog eens het handelsverdrag Ceta met Canada verder te brengen, en haal TTIP (met de VS) uit de ijskast, suggereren ze. Zeker in de Nederlandse politiek zal dat geluid niet goed vallen.

Lees het volledige artikel: fd.nl/politiek/1435385/zonder-russisc...

voda 26 juli 2022 07:49

0

BHP Signs MOU with Ford Motor for Nickel Supply

Strategic Research Institute
Published on :
26 Jul, 2.022, 6:30 am

BHP hBHP has entered into a Memorandum of Understanding for nickel supply with one of the world’s leading automakers, Ford Motor Company. The targeted multi-year nickel supply agreement could start as early as 2025 and may involve additional commodities over time. BHP will explore options to supply Ford Motor Company with nickel from its Nickel West asset in Western Australia, a producer of some of the most sustainable and lowest carbon intensity nickel in the world.

In addition, BHP and Ford Motor Company are exploring ways to make battery supply chains more sustainable and efficient, including opportunities for further alignment on best practice and raising ESG performance transparency.

According to third-party analysis, BHP’s Nickel West asset has one of the world’s lowest operational carbon emissions intensities for nickel mining operations and plans to further reduce emissions, making BHP a partner of choice to battery electric vehicles manufacturers across the globe that value sustainability and transparency.

This announcement with Ford Motor Company follows the signing of supply and collaboration agreements with nickel product end-users including Tesla and PPES & Toyota Tsusho Corporation.as entered into a Memorandum of Understanding for nickel supply with one of the world’s leading automakers, Ford Motor Company. The targeted multi-year nickel supply agreement could start as early as 2025 and may involve additional commodities over time. BHP will explore options to supply Ford Motor Company with nickel from its Nickel West asset in Western Australia, a producer of some of the most sustainable and lowest carbon intensity nickel in the world.

In addition, BHP and Ford Motor Company are exploring ways to make battery supply chains more sustainable and efficient, including opportunities for further alignment on best practice and raising ESG performance transparency.

According to third-party analysis, BHP’s Nickel West asset has one of the world’s lowest operational carbon emissions intensities for nickel mining operations and plans to further reduce emissions, making BHP a partner of choice to battery electric vehicles manufacturers across the globe that value sustainability and transparency.

This announcement with Ford Motor Company follows the signing of supply and collaboration agreements with nickel product end-users including Tesla and PPES & Toyota Tsusho Corporation.

voda 23 november 2022 06:45

0

Vale Canada & GM Ink Nickel Supply Pact for EVs

Strategic Research Institute
Published on :
23 Nov, 2022, 6:40 am

Vale Canada & General Motors have signed a term sheet for the long-term supply of battery grade nickel sulfate from Vale’s proposed plant at Bécancour in Québec in Canada. This agreement secures for GM a supply of nickel sulfate from a US free-trade partner to support its fast-growing EV production needs in North America.

Under terms of the agreement, Vale will supply battery grade nickel sulfate, equivalent to 25,000 metric tons per year of contained nickel, for use in GM’s Ultium battery cathodes, which will power a broad portfolio of electric vehicles including the Chevrolet Silverado EV, Blazer EV and Equinox EV, the Cadillac LYRIQ, the GMC Sierra EV, and the GMC HUMMER EV Pickup and SUV. The amount of contained nickel is sufficient to supply approximately 350,000 EVs annually. Deliveries are targeted to commence in the second half of 2026.

This initiative highlights Vale’s uniquely strategic position to be the supplier of choice to the EV industry, leveraging its low-carbon footprint and market-leading position as North America’s largest producer of finished nickel. Nickel sulfate is the chemical compound used in the production of pre-cathode active materials for nickel-based lithium-ion batteries.

Vale and GM have also agreed to study collaborative ways to partner on advanced technology development and commercialization pathways to harvest recycled metals.

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