Beleggen in nikkel

[nobody]

Unit of world’s largest nickel producer rises in Hong Kong debut

(Dec 18): Chinese battery maker REPT Battero Energy Co, a unit of Tsingshan Holding Group Co, rose in its first day of trade in Hong Kong on Monday after an initial public offering (IPO) that priced near the bottom of the marketed range.

Shares gained as much as 4.9% to trade as high as HK$19.20 (RM11.48). The company raised about HK$2.1 billion after selling 116 million shares at HK$18.30 each. They were offered at HK$18.20 to HK$20.60 apiece in Hong Kong’s fourth-largest IPO this year.

Tsingshan Holding is the world’s top nickel producer and has transformed the industry, with a bet on low-grade nickel ore in Indonesia that has turned the country into a major player in the stainless steel and battery-ingredient industries.

The company was at the centre of a 2022 nickel short squeeze on the London Metal Exchange, with Tsingshan’s forced unwinding of huge positions triggering a price spike.

REPT Battero is coming to market after a tepid year for new share sales in Hong Kong, where total proceeds raised slumped 58% on the yearly comparison amid rising concerns about China’s economic growth.

EV battery maker CALB Co, which listed in the city in October 2022, after raising US$1.3 billion, is down more than 50% since the first day of trade.

Fifteen companies that listed in Hong Kong after raising between US$100 million and US$500 million this year, excluding REPT Battero, rose by an average 1.9% in their debut, according to data compiled by Bloomberg.

REPT Battero will use 80% of the proceeds to expand its production capacity, particularly the construction of facilities in Wenzhou, Foshan and Chongqing, according to terms of the deal seen by Bloomberg News. Morgan Stanley and Citic Securities are joint sponsors in the offering.

https://theedgemalaysia.com/node/694351

[nobody]

Indonesia nickel smelter furnace blast kills 13 workers, wounds 38

JAKARTA (Dec 24): Thirteen workers were killed and 38 were injured on Sunday in the explosion of a nickel smelter furnace owned by Indonesia Tsingshan Stainless Steel (ITSS) on Sulawesi island, the owner of the industrial park where the smelter is located said.

The blast occurred when workers repaired the furnace and installed plates at 5:30am on Sunday (2130 GMT on Saturday), killing eight Indonesian workers and five Chinese workers, Indonesia Morowali Industrial Park (IMIP) said in a statement. The fire was extinguished at 09:10am local time, it added.

"Based on initial investigations, the explosion (was) possibly caused because there was still some explosion-inducing liquid at the bottom of the furnace. During the repairing process, an explosion occurred," an IMIP spokesperson said.

The first explosion triggered several other explosions because there were many oxygen cylinders used for welding and cutting furnace components for the repair, the spokesperson added.

IMIP is a nickel-focused industrial park owned by China's Tsingshan and its local partner Bintang Delapan Group, which produce stainless steel and carbon steel. ITSS is one of the tenants at the industrial park, IMIP said.

IMIP will coordinate with related parties to investigate the incident and cover all treatment costs for victims, the company said.

Nickel has become increasingly crucial for resource-rich Indonesia, the world's biggest nickel producer, with billions of dollars of global investment flowing in after the government banned exports of unprocessed ore in 2020.

Southeast Asia's biggest economy is trying develop downstream nickel industries and lure big-ticket investment from manufacturers of electric vehicles and their batteries.

However, several fatal accidents have occurred in Indonesia's nickel processing industry in recent years. President Joko Widodo is keen to develop the sector but has also called for improvements in safety and has pledged to enhance monitoring of environmental standards.

https://theedgemalaysia.com/node/695114

[nobody]

Canada Nickel Receives Equity Investment from Samsung SDI

Highlights

-Samsung SDI to invest US$18.5 million and acquire approximately 15.6 million shares of Canada Nickel, becomes an 8.7% shareholder

-Samsung SDI granted the right to purchase a 10% equity interest in the Crawford project for US$100.5 million upon a final construction decision

-Samsung SDI will be granted certain offtake rights to the Crawford project's nickel-cobalt products subject to the completion of the 10% equity investment in the Crawford project

TORONTO, Jan. 12, 2024 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that the Company has entered today into a Subscription Agreement with Samsung SDI Co., Ltd. ("Samsung SDI") to make a US$18.5 million investment in Canada Nickel at a price of C$1.57 per Common Share.

Upon closing of the private placement contemplated in the Subscription Agreement, Samsung SDI will own approximately 15.6 million shares of the common shares of Canada Nickel, representing approximately 8.7% of the Company's issued and outstanding shares on a non-diluted basis.

"We are very pleased to welcome Samsung SDI as an investor and project partner with Canada Nickel," said Mark Selby, CEO of Canada Nickel. "As we advance the Crawford Nickel Sulphide Project, it is critical to form long-term partnerships with companies that truly understand how crucial this production is for electric vehicle supply chains across North America and Europe.

As one of the world's leading electric vehicle battery manufacturers, Samsung SDI not only understands our vital role in these supply chains, but also believes in Canada Nickel's vision for responsible, large scale, net-zero carbon nickel production. Together, our companies are paving the way for a more sustainable future."

"We are pleased to partner with Canada Nickel through this opportunity," said Ikhyeon Kim, Executive Vice President of Samsung SDI. "We look forward to working with Canada Nickel to contribute to the growing battery manufacturing industry through this partnership."

Samsung SDI is a manufacturer of rechargeable batteries for the IT industry, automobiles, and energy storage systems ("ESS"), as well as cutting-edge materials used to produce semiconductors and displays.

Samsung SDI's executive managers and staff members focus efforts to develop the next generation's growth drivers in order to secure Samsung SDI's place as a creative leader in the energy and materials industry.

Subscription Agreement and Investor Rights Agreement

The Subscription Agreement and the Investor Rights Agreement contain certain customary terms and conditions. Samsung SDI will have a pro rata right in any future issuance of Common Shares or any securities that are or may become convertible, exchangeable or exercisable into Common Shares to maintain its shareholding as long as it holds 7.5% or more of the issued and outstanding Common Shares of the Company.

Project Investment and Offtake Rights

At closing of the private placement, Canada Nickel will grant to Samsung the right to purchase a 10% equity interest in the Crawford project for US$100.5 million, exercisable upon a final construction decision. By exercising this right, Samsung SDI will have the right to 10% of the nickel-cobalt production from the Crawford project over the life of mine and the right to an additional 20% of Crawford's nickel-cobalt production for 15 years extendable by mutual agreement. The offtake rights will be based on mutually agreed terms.

The closing of the private placement and related agreements is subject to customary closing conditions including the approval of the TSX Venture Exchange and is targeted to close on or about January 31, 2024.

Advisors

Cutfield Freeman, Deutsche Bank, Harp Capital, and Scotiabank acted as financial advisors to Canada Nickel.

https://finance.yahoo.com/news/canada-n ... 00429.html

[nobody]

FPX Nickel announces mining giant Sumitomo Metals plans to invest 14.4 million in company

Proactive Investors

FPX Nickel CEO Martin Turenne joined Steve Darling from Proactive to share significant news that the company has entered into a subscription agreement for a private placement with Sumitomo Metal Mining, in which Sumitomo will invest $14.4 million in FPX. Upon completion of the deal, Sumitomo will hold a 9.9% stake in FPX.

Turenne highlighted the strategic significance of this investment by Sumitomo Metal Mining, emphasizing that it represents another substantial technical validation of FPX's Baptiste Nickel Project. The funds raised through this investment will be instrumental in supporting exploration and development activities at the project, as well as continuing ongoing environmental baseline activities and preparing for the feasibility study.

Sumitomo Metal Mining is a comprehensive producer engaged in various aspects of the nickel industry, from mineral resource development and smelting & refining to the production of battery materials and functional materials.

The company operates both in Japan and internationally and boasts expertise, deep knowledge, and extensive experience in producing various types of nickel products. Sumitomo aims to increase its nickel production capacity from approximately 82,000 tonnes per annum to 150,000 tonnes per annum in the long term.

This strategic partnership with Sumitomo Metal Mining not only provides financial support for FPX Nickel's Baptiste Nickel Project but also signifies a significant vote of confidence in the project's potential and the company's expertise in the nickel industry. It positions FPX Nickel for further growth and advancement in the nickel sector.

[nobody]

Power Nickel announces 2024 work plan including drilling on 4 new target zones

Proactive Investors

Power Nickel Inc CEO Terry Lynch joined Proactive to unveil the exciting plans for their 2024 exploration endeavours on the Nisk Project.

This project has garnered considerable attention due to its remarkable potential, as indicated by a 43-101 report showcasing the substantial growth possibilities of the existing deposit, boasting an impressive 7.2 million tons at 1.13% Nickel high-grade.

During the interview, Lynch shared the company's ambitious agenda, revealing their intention to kickstart drilling activities on newly identified pod locations derived from advanced ambient noise tomography programs. These operations are slated to commence as early as the upcoming week, and the drilling program will span depths ranging from 300 to 600 meters, with the potential for even deeper excavations as the program unfolds.

Lynch underscored the significance of building upon past achievements, citing last year's discovery of an eight-meter section containing nearly one ounce of PGM (Platinum Group Metals), located a mere 60 meters below the surface.

Power Nickel is geared up for an extensive drilling campaign, aiming to cover a range of 8,000 to 10,000 meters in the upcoming session.

Additionally, the company plans to provide regular assay results every two weeks, ensuring that stakeholders and enthusiasts alike can stay abreast of the exciting developments as Power Nickel embarks on a promising and eventful year ahead.

Keep a close watch for updates on this dynamic exploration journey.

[nobody]

New Caledonia’s Prony Resources faces cash crunch on nickel slump

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.

Prony’s struggles highlight the troubles of the French Pacific island territory’s nickel industry, the fourth-biggest producer of nickel ore globally, as prices have plummeted 40% in the past year on surging Indonesian supply. After years of losses, France is trying to work out an agreement by the end of the month to bolster the producers through investments to help reduce costs.

Prony, which is backed by commodity trade house Trafigura, warned staff as early as August that it could run out of cash by year end, company spokeswoman Adelie Garaud Ballande said in an email on Tuesday.

“Unfortunately, at the end of 2023, our fears were confirmed, aggravated by a collapse in nickel prices on the markets and production below budget …. In the short term, the issue is to keep the cash flow going while waiting for support solutions,” she said.

Companies in other high-cost nickel-producing regions have announced restructurings and writedowns as prices have dropped. Demand for nickel, a key component of advanced electric batteries, has surged on the global transition to electric vehicles and Prony inked a supply agreement with Tesla in 2021.

In November, French Economy Minister Bruno Le Maire said New Caledonia’s three main producers, Eramet-backed SLN, Glencore’s Koniambo Nickel (KNS) and Prony, would need 1.5 billion euros ($1.63 billion) in short-term financing.

The French government would contribute to other projects, including an overhaul of New Caledonia’s energy system that has made local ore processing costly, but would not bail out the sector, he said.

Prony is 51%-owned by New Caledonia’s territorial authorities and other local interests, while Trafigura has a 19% stake and the rest is held by a joint venture between Prony and investment firm Agio Global.

Prony’s stakeholders bought the loss-making nickel operations in the French territory from Brazil’s Vale in 2021. It set out to double production to 44,000 tonnes in 2024 from 2021 levels.

($1 = 0.9210 euros)

(By Melanie Burton; Editing by Christian Schmollinger)

https://www.mining.com/web/new-caledoni ... kel-slump/

[nobody]

Russia's Nornickel forecasts further nickel, palladium output drop this year

MOSCOW (Jan 29): Russian metals producer Nornickel on Monday said it that expects a further decline in nickel and palladium output this year, hit by adverse geopolitical risks and postponed furnace repairs, following on from a drop in production in 2023.

Chief executive officer Vladimir Potanin said last year that sanctions had constrained Nornickel's development, though Western governments have refrained from targeting Nornickel directly, in response to the conflict in Ukraine.

Nornickel, the world's largest palladium producer and a major producer of refined nickel, said its nickel production fell 5% year on year to 209,000 metric tonnes in 2023. This year, the company expects nickel output at 184,000-194,000 tonnes.

Palladium output dropped by 4% in 2023 to 2.692 million troy ounces, Nornickel said. This year, palladium output is seen at 2.296-2.451 million troy ounces.

The company had expected output for both metals to drop in 2023, but palladium output came in above forecast.

Nornickel's senior vice-president and operational director Sergey Stepanov said output of all key metals, except platinum, decreased slightly in 2023 due to lower-mined rich and cuprous ore volumes, as the company transitions gradually to new mining equipment.

"After testing and gradual roll-out of equipment from new suppliers, our mines recovered to the scheduled mining volumes in the fourth quarter," said Stepanov.

"In 2024, we expect that risks related to an adverse geopolitical situation will continue to impact our operations," he said. "Furthermore, this year, we are planning capital repairs of the flash smelting furnace #2 at Nadezhda Metallurgical Plant."

Repairing the furnace, which has been delayed for two years due to issues with the supply of equipment, is now expected in mid-2024, Stepanov said. Nornickel did not say whether it has found equipment suppliers.

Platinum output rose 2% in 2023 to 664,000 ounces and is seen falling to 567,000-605,000 ounces in 2024, Nornickel said.

https://theedgemalaysia.com/node/699003

[nobody]

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.

($1 = 0.9309 euros)

(By Leigh Thomas; Editing by GV De Clercq and David Goodman)

https://www.mining.com/web/french-gover ... el-rescue/

[nobody]

Fathom Nickel announces drilling has started at the Albert Lake Project in Saskatchewan

Proactive Investors

Fathom Nickel CEO Ian Fraser joined Steve Darling from Proactive to share an exciting update regarding the company's Albert Lake Project in Saskatchewan. Despite a brief weather delay, drilling operations have commenced on site, marking a significant milestone for Fathom Nickel.

During the interview, Fraser provided insights into the initial drilling efforts, highlighting the primary target area: a robust and prominent conductor located in the northeastern section of the figure.

This conductor, detected through time domain electromagnetic (TDEM) surveys, is estimated to be situated approximately 350 meters below the surface, with a minimum strike length of 450 meters. Moreover, it coincides with a gravity anomaly, further emphasizing its geological significance.

Fraser outlined the company's expectations of uncovering additional drill targets from the "Middle" and "North" TDEM grids, underscoring the comprehensive approach to exploration at the Albert Lake Project. Any potential drill targets identified from the "South" grid will be earmarked for future drill programs, indicating the company's commitment to systematic and strategic exploration.

The commencement of drilling operations signifies a pivotal phase in Fathom Nickel's exploration journey, as it seeks to unlock the potential of the Albert Lake Project and unearth valuable mineral resources.

With a focused approach and promising geological indicators, Fathom Nickel is poised to make significant strides in advancing its exploration efforts and delivering value to its stakeholders.

[nobody]

Poseidon Nickel identifies new targets at Windarra

Proactive Investors

Poseidon Nickel Ltd (ASX:POS) CEO Craig Jones sits down with Proactive’s Jonathan Jackson to discuss the identification of two new highly prospective nickel sulphide targets at WIndarra Project that bring the total to six so far.

POS is particularly interested in these new targets, as they are overlayed by prospective geology and supported by field mapping data as well as surface geochemistry.

Jones also discusses the value of the collaborations in the region, which is helping it advance several quality greenfields nickel and lithium targets at Lake Johnston and how these collaborations have re-rated its nickel potential.

Finally, Jones speaks about the work going on at Lake Johnston.