Several South Korean battery companies are postponing or abandoning joint projects with Chinese partners, as geopolitical risks and shifting market dynamics reshape industry strategies. LG Energy Solution has delayed its planned battery recycling venture with Huayou Cobalt, China’s top cobalt producer. The project, intended to include pre-processing and post-processing facilities in Nanjing and Quzhou, was...
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Singapore’s three major banks—OCBC, UOB, and DBS—are under scrutiny for their financing of Indonesia’s Harita Nickel, a mining company whose smelting and refining operations rely heavily on coal-powered captive plants. Environmental advocacy group Market Forces flagged the banks for providing loans to Harita despite their pledges not to finance new coal-fired power plants. OCBC tops...
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Canada Nickel Company is making significant progress on its Crawford Nickel Project, a proposed open-pit, zero-emission mine located 40 kilometers north of Timmins, Ontario. CEO Mark Selby emphasized at the recent State of Mining event in Timmins that 2025 will be pivotal as the company focuses on finalizing permits, securing funding, and selecting sites for...
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Panasonic Energy has introduced a closed-loop recycling program for nickel used in lithium-ion battery cathodes, partnering with Sumitomo Metal Mining. The initiative, which repurposes battery scrap into new battery materials, marks Panasonic Energy’s first such recycling scheme in its automotive battery production in Japan. Under the agreement, nickel scrap from Panasonic Energy’s Suminoe Factory in...
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EcoPro Materials, a precursor production subsidiary of EcoPro Group, has secured $297 million (KRW 400 billion) in investment to expand into the nickel smelting industry in Indonesia. The company has secured a total of $288 million (KRW 389 billion) through a third-party allotment capital increase. The majority of the funds will be used to acquire...
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Belgian metals recycling company Umicore announced plans to reduce its capital expenditure by €1.4 billion ($1.51 billion) between 2025 and 2028, bringing total investments down to €1.6 billion. The company’s battery cathode materials division will bear the brunt of these cuts, with €800 million slashed from its budget due to weaker-than-expected electric vehicle (EV) sales...
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Norway is emerging as a pivotal player in Europe’s critical raw materials supply chain, driven by strategic partnerships and resource development projects. The country’s mineral reserves, including nickel, cobalt, and copper, are becoming increasingly essential for clean energy technologies such as electric vehicles and renewable energy infrastructure. In 2024, Norway and the EU signed a...
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Elliott Associates, a U.S.-based hedge fund, is reviewing its options for further legal action against the London Metal Exchange (LME) after Britain’s Financial Conduct Authority (FCA) fined the exchange £9.2 million ($11.9 million) for its handling of the 2022 nickel price crisis. The fine, announced on March 20, 2025, marks the first enforcement action against...
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First Atlantic Nickel has formed a research partnership with the Colorado School of Mines to evaluate the potential of geologic hydrogen in two ophiolite complexes in Newfoundland, Canada: the St. Anthony Ophiolite Complex (Atlantis Project, 103 km²) and the Pipestone Ophiolite Complex (Atlantic Nickel Project, 71 km²). Both sites are 100% owned by First Atlantic...
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Global Ferronickel Holdings reported a 51.82% decline in attributable net income in 2024, falling to PHP 743.9 million (USD 13.2 million) from PHP 1.54 billion (USD 27.3 million) the previous year. The company cited weaker nickel ore prices and rising costs as the primary reasons for the downturn. Revenue from contracts with customers dropped 13.37%...
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The Philippines has invited India to source nickel for battery production, aiming to diversify its export markets and reduce dependence on China, which currently accounts for 98% of its nickel exports. Foreign Minister Enrique Manalo emphasized the need for stronger trade partnerships, highlighting the opportunity for greater economic collaboration between Manila and New Delhi. Speaking...
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Indonesia’s proposed increase in mineral royalties is sending ripples through the mining sector, with analysts warning of potential pressure on profit margins, investor confidence, and the country’s downstream processing ambitions. A public consultation paper released by the Energy and Mineral Resources Ministry under President Prabowo Subianto details plans to raise royalties on key commodities, including...
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Revex Technologies has been awarded a $145 million grant from the U.S. Department of Energy’s Office of Manufacturing and Energy Supply Chains (MESC) to advance the REV Nickel Project. The funding, issued on January 15 but delayed due to administration changes, will support sustainable nickel concentrate production from metal-bearing waste streams, including mine tailings and...
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Magna Mining has finalized the acquisition of a portfolio of base metals assets in the Sudbury Basin from an affiliate of KGHM International. The acquisition includes the operating McCreedy West copper mine, as well as the past-producing Levack, Podolsky, and Kirkwood mines. The deal, completed under a share purchase agreement dated September 11, 2024, also...
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Vale Indonesia’s new nickel-ore sales initiatives are anticipated to be a key growth driver in 2025, according to a research report by Nomura’s Ahmad Maghfur Usman and Verdhana Sekuritas analysts. The company has disclosed improved feasibility for its upstream mine and high-pressure acid leach (HPAL) projects, with a planned gross investment of $8.6 billion. Nomura...
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Canada provides nearly half of the nickel used in the United States, but ongoing trade tensions between the two nations have raised concerns about future supply agreements. Mark Selby, CEO of Canada Nickel Company, stated in an interview with BNN Bloomberg that Canada could explore alternative trading partners if necessary. Nickel is a key component...
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Canada Nickel Company has completed front-end engineering and design (FEED) for its $2.5 billion Crawford nickel project near Timmins, Ontario, enhancing key financial and operational metrics. The Crawford project is the world’s second-largest nickel reserve and resource, according to Wood Mackenzie. Based on data from a winter geotechnical program, test piling, and updated cost estimates,...
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Kingsrose Mining Limited has announced the acquisition of the Jakon nickel-copper-cobalt project in Central Finland from Rio Tinto Exploration Finland Oy. This acquisition strengthens Kingsrose’s presence within the Kotalahti Nickel-Copper-Cobalt Belt and forms part of its Exploration Alliance with BHP in Finland. The Jakon project spans 205 km², bringing Kingsrose’s total landholding under the BHP...
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An Indonesian nickel producer has announced a $1.8 billion investment in the construction of a new nickel and cobalt processing plant, as the country seeks to enhance the value of its mineral production. PT Merdeka Battery Materials confirmed this week that it has signed agreements to build the facility on the island of Sulawesi (Celebes)....
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PT Vale Indonesia announced that its 2024 nickel production reached 71,311 metric tons, surpassing its annual target of 70,805 metric tons and exceeding the previous year’s output of 70,728 metric tons. Sales volume for 2024 increased to 72,625 metric tons, reflecting a 2% rise compared to 2023 and an 8% quarterly increase in Q4 2024...
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Nickel prices exhibited a downward trend last week, with spot prices fluctuating between 123,200-127,300 yuan/mt and SHFE nickel futures ranging from 123,300 yuan/mt to 126,300 yuan/mt. Premiums for Jinchuan No.1 nickel were quoted between 1,700-2,100 yuan/mt, with an average premium of 1,850 yuan/mt, declining week-on-week. Market trading remained sluggish, while downstream end-use demand remained weak,...
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Nickel 28 Capital has successfully restored full production at the Ramu Nickel-Cobalt Mine’s Basamuk HPAL plant following a mechanical failure that temporarily reduced output. The company previously announced on December 18, 2024, that a blower malfunction in the acid plant required short-term operational adjustments. Repairs and replacement have now been completed, allowing production to resume...
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Australian mining company South32 is evaluating the potential sale of its Cerro Matoso nickel operation in Colombia’s Córdoba department. The company launched a strategic review in response to structural shifts in the nickel market, citing price pressures and declining returns on ferronickel production. While the review identified potential efficiency improvements, South32 stated that the expected...
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Indonesia Battery Corporation (IBC) has announced plans to develop a nickel-based electric vehicle (EV) battery recycling plant by 2031. The initiative, revealed by IBC President Director Toto Nugroho, aims to recycle more than 99% of battery components, supporting the long-term sustainability of Indonesia’s nickel industry. “The nickel used in car batteries can be recycled and...
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