Nickel – CTV News reported that Scotiabank now expects nickel to average US$7.66 per pound this year, higher than its initial prediction of $6.75.
Articles Tagged "indonesia"
Manganese – Mining Weekly reported yesterday that Gulf Minerals Corporation Ltd. (ASX:GLM) plans to develop an Indonesia-based alloy smelter facility. Its goal is to become a major ferromanganese producer by 2018.
Manganese – Indonesia, one of the top mineral exporters in the world, has been in the news more than usual since January 12, when its controversial ban on mineral exports came into effect.
Copper – Speculation regarding Chinese demand continued to keep the red metal in flux this week. Today, apprehension over the upcoming release of Chinese data drew prices back by 0.5 percent, to $6,636.50 per tonne.
Copper – Reuters reported today that Freeport McMoRan Copper & Gold Inc and Indonesia's Aneka Tambang may not be ready with a joint copper smelter venture before Indonesia bans concentrate exports in 2017. This could cause dramatically reduced copper output in the future, as PT Smelting, currently the only copper smelter in Indonesia, is only capable of processing 20% of the national output of concentrate.
Nickel – US and European sanctions on Russia combined with Indonesia's ban on unprocessed ore exports to push nickel to an 11-month high.
Nickel – Reuters reported that Patrick Buffet, chairman and chief executive of France's Eramet SA (EPA:ERA), believes Indonesia's export ban is a positive development and will "eventually support nickel prices."
Nickel – Reuters reported that Indonesia's ban on unprocessed ore exports is set to send the value of its mining exports as low as $7 billion this year, from $11 to $12 billion in 2013. Prior to the ban, the country was the world's top exporter of nickel.
Nickel – Three-month nickel on the London Metal Exchange has largely moved upward in the wake of Indonesia's decision. Encouragingly, Vale believes further gains are to come.
Manganese – Platts reported that Kupang Resources Ltd. (ASX:KPR) is waiting for the Indonesian government to allow it to start exporting manganese ore from its West Timor project. In January, a ban was put in place on ore exports with manganese content of less than 49 percent.