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Governments back nickel, lithium industries
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Federal Minister for Resources Madeleine King and Western Australian Minister for Mines David Michael met with nickel and lithium producers last week to discuss challenges facing the industry. |
Australian mining group pushes govt for tax credit as lithium, nickel prices slump
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An Australian mining association has called for a new production tax credit during meetings with senior ministers called as nickel and lithium miners curtail projects and review new mines in response to a global slump in prices. |
FPX Nickel closes Sumitomo equity investment
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Exploration and development company FPX Nickel has closed the private placement financing with new cornerstone investor Sumitomo Metal Mining, raising C$14.45-million. |
New Caledonia’s Prony Resources faces cash crunch on nickel slump
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New Caledonian nickel producer Prony Resources is facing an “alarming” situation amid a slump in metal prices as it waits for the possibility France will offer monetary support for the territory’s nickel sector, a company spokesperson said. |
South32 misses output estimates, puts Colombia nickel unit under review
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The miner on Monday posted a near 50% drop in second-quarter metallurgical coal output as it completed major work at an underground mine at its Illawarra operation, while its quarterly manganese production also missed estimates. |
Australian tycoon Forrest shuts nickel mines after prices crash
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Wyloo Metals Pty Ltd., the private nickel producer owned by billionaire Andrew Forrest, is shutting down its Western Australian mines due to a sharp slump in prices for the key transition metal. |
Australia's nickel producers reel from supply glut
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A sharp slide in nickel prices over the past year, driven by a jump in Indonesian supply, has hit Australian nickel producers, leading to mine closures, production cuts and writedowns in recent months. |
Sumitomo participates in FPX Nickel financing to gain 9.9% stake
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Sumitomo Metal Mining Canada is investing about C$14.5 million to gain a 9.9% interest in FPX Nickel (TSXV: FPX). |
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