Global mining company BHP said it has agreed to acquire the Honeymoon Well Nickel Project comprising the Honeymoon Well development project and a 50 per cent interest in the Albion Downs North and Jericho exploration joint ventures from MPI Nickel Pty Ltd, a wholly owned subsidiary of Norilsk Nickel Australian Holdings BV. BHP Nickel West […]
Metals and crude oil prices rose on the expectation of a recovery in demand following the gradual re-opening global economy and stronger manufacturing data from China, the world’s largest consumer. The price of copper for delivery in three months jumped 0.7 per cent to trade at $5,415 a tonne on the benchmark London Metal Exchange (LME) on increased demand from […]
Global nickel production will drop significantly over 2020 as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. This drop will be slightly offset by the impact of rising production growth in the Philippines where some currently suspended mines will become operational again, while the country aims to plug […]
Base metals’ prices jumped by 1-2 per cent on Wednesday after the United States Federal Reserve (US Fed) announced a 50 basis points (bps) emergency interest rate cut. The Fed also confirmed high downside risk for the global economy as a result of increasing number of coronavirus (COVID-19) cases across the world. Gold and silver price increased […]
The European Union launched a complaint at the World Trade Organization (WTO) on Friday against Indonesia’s curbs on exporting nickel and other raw materials, which are designed to benefit its own smelting and stainless steel industries, as per a Reuters report. The European Commission, which coordinates trade policy in the 28-member EU, said the restrictions […]
Indonesia has allowed nine companies to resume nickel ore exports after inspections into reports of ore export rules violations, Reuters reports. Among the companies allowed to export ore again are state-controlled miner PT Aneka Tambang and PT Trimegah Bangun Persada, according to an official document reviewed by Reuters and verified by a mining ministry official […]
Indonesia suspended exports of nickel ore with immediate effect after a planned ban on shipments from the beginning of next year led to a rush to beat the deadline. The mineral meant for exports during the rest of the year will be absorbed by domestic companies with smelters, Indonesia’s Investment Coordinating Board Chairman Bahlil Lahadalia […]
The US government is stepping up efforts to break China’s dominance over supplies of critical minerals for a range of modern life’s aspects, including electric vehicles (EVs), green technologies and military applications by launching a plan to boost lithium, cobalt and rare earths mining across the globe. The Energy Resource Governance Initiative (ERGI) initiative, announced in […]
A nickel mining hub in the southern Philippines, which produces mostly high-grade material, has suspended extraction operations indefinitely as the regional government conducts an industry audit, a top government official told Reuters last week. The government of Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has suspended operations of all four mining companies in its jurisdiction, said Environment, Natural Resources […]
Indonesia is weighing whether to advance the timeline for a planned ban on exports of mineral ores, the country’s trade minister said a day after nickel prices surged on speculation the Southeast Asian nation will halt shipments, Reuters reports. President Joko Widodo is gathering input from the Ministry of Energy and Mineral Resources about the […]
