Nickel Miners Information For The Month Of March 2024

Welcome to the nickel miners information for March.

The previous month noticed nickel costs transfer decrease. We additionally had a number of reviews that the Indonesia led oversupply could also be lower than what was first thought. Regardless of this the present low nickel worth induced casualties proceed to climb.

Nickel worth information

As of March 29, the nickel spot worth was USD 7.40/lb, down from USD 7.74/lb final month. LME exhibits the value at USD 16,525/tonne. Nickel stock on the London Metals Trade [LME] was increased the previous month at 77,148 tonnes (69,330 tonnes final month).

Nickel spot worth 5 12 months chart – Present worth = USD 7.40/lb

Nickel demand v provide chart

Benchmark Mineral Intelligence forecasts deficits for lithium, nickel & cobalt to extend from 2027 onwards (source)

Pattern Investing v IEA demand forecast for EV metals (IEA)

2021 IEA forecast development in demand for chosen minerals from clear power applied sciences by situation, 2040 relative to 2020 – Will increase Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Uncommon Earths 3x to 7x, and Copper 2x to 3x (source)

2022 – IEA forecasts 60 new nickel mines wanted by 2030

BMI forecasts we want 330+ new EV steel mines from 2022 to 2035 to fulfill surging demand – 72 new 45,500tpa nickel mines wanted by 2035

Lithium & Nickel are the 2 ‘excessive significance to power’ essential supplies within the medium time period (2025-2035) (source – web page 29)

Nickel Market Information

On March 2 Argus Media reported:

Nickel market surplus simply 36,000t this 12 months: Macquarie. The nickel market’s provide overhang isn’t as important as beforehand assessed, with bodily supply-demand fundamentals tighter than market expectations and on monitor to steadiness sooner, in line with the newest analysis undertaken by Australian financial institution Macquarie. The financial institution as we speak revised its 2024 surplus to 36,000t, nicely beneath the projected determine of 125,000t in February, including that the market may even transfer into deficit if year-on-year Indonesian nickel provide development falls beneath 13pc. Tighter fundamentals and deliberate provide curtailments this 12 months imply London Steel Trade [LME] nickel costs probably bottomed out at concerning the $16,000/t reached early this 12 months and now principally have upside potential, Macquarie stated…”The perception of a massive overhang of unsold nickel, especially NPI, appears to be wrong and is unsupported by feedback from China of relatively tight NPI markets,” Macquarie stated…Macquarie famous 254,000t price of provide cuts within the nickel market.

On March 7 Bloomberg reported:

Nickel costs might quickly get well from Indonesia-induced droop… there are causes to imagine a nickel rally could be within the offing. The provision of ore from the nation is at present being constrained by sluggish authorities approvals of labor plans, that are wanted by native miners to function.

On March 19 Mining.com reported:

Indonesia points nickel manufacturing quotas for 152.62mt…is working to speed up the approval course of, a senior mining ministry official informed parliament on Tuesday…Greater than 500 manufacturing proposals for varied minerals had been nonetheless being processed…Most miners who haven’t been granted RKAB had unpaid mining royalties, Bambang stated…The backlog has disrupted exports within the first two months of 2024 and boosted costs of nickel and tin in world markets.

On March 27 CNEVPOST reported:

Chinese language EV battery maker Rept plans to construct its 1st abroad plant in Indonesia. Rept’s plant in Indonesia, which may begin operations as early as subsequent 12 months, will make the most of its guardian firm Tsingshan’s uncooked supplies and infrastructure. Rept Battero Vitality Co Ltd (HKG: 0666), an influence battery maker backed by Chinese language stainless-steel and nickel big Tsingshan Trade, plans to construct its first abroad manufacturing facility in Indonesia to develop its presence to abroad markets. Rept’s first abroad battery plant will likely be housed alongside Tsingshan’s present operations in Weda Bay.

Notice: Tsingshan Holding Group Co Ltd (personal) is a Chinese language owned global leading nickel producer in Indonesia.

Nickel Firm Information

Producers

Norilsk Nickel

On February 29, Norilsk Nickel announced:

Nornickel approves up to date environmental technique and Key focus areas of carbon neutrality…To ship on the targets, the Firm drafted programmes that embody greater than 150 particular initiatives with prices in 2023-2031 estimated at greater than RUB 500 bn…

On March 14, Norilsk Nickel announced:

Nornickel’s digitalization arm debuts token on treasured and base metals. The digital metals subsidiary of Nornickel, GPF Investments, has performed a launch of distinctive digital monetary property (DFA) on the Atomyze blockchain platform for a basket of 5 metals: gold, palladium, platinum, copper, and nickel, marking a primary in Russia…

On March 21, Norilsk Nickel announced:

Financial institution of Russia approves inventory break up at Nornickel…Because of the break up, one unusual share with a nominal worth of RUB 1 will likely be transformed into 100 unusual shares with a nominal worth of RUB 0.01 every.

Vale S.A. (NYSE:VALE)

Vale Voisey’s Bay Mine is a key Canadian and world supply of nickel. Vale plans a refinery at Bécancour in Québec to supply GM with battery grade nickel sulfate with deliveries focused to start in H2 2026.

On March 18, In search of Alpha reported:

Vale to construct one other $2B HPAL plant in Indonesia, minister says…The plant, named “SOA HPAL,” will likely be Vale’s third such venture to show nickel ore into blended hydroxide precipitate, a cloth used to make electrical automobile batteries, Lahadalia stated. The plant may have an annual manufacturing capability of 60K metric tons of nickel in MHP, the ministry stated, including Vale Indonesia expects to accomplice with automakers. Vale already has two HPAL vegetation underneath development at Indonesia’s Sulawesi Island, in Pomalaa and Sorowako; U.S. automaker Ford is concerned within the $4.5B Pomalaa plant.

Glencore [HK:805] [LSE:GLEN] (OTCPK:GLCNF)

On February 26 Fastmarkets reported:

Glencore’s 2023 metals earnings down on decrease cobalt, nickel and zinc costs. Swiss dealer Glencore’s earnings halved in 2023 because of weaker power and metals costs and manufacturing, in line with the corporate’s full-year outcomes launched on Wednesday February 21.

On March 20, Glencore announced: “Publication of second Climate Action Transition Plan..”

BHP Group [ASX:BHP] (NYSE:BHP)

BHP’s Nickel West (consists of the Mt Keith nickel mine in Australia) has a Measured and Indicated Useful resource of 4.1Mt contained nickel with a Complete Useful resource contained nickel of 6.3Mt, with a mean grade of 0.58% Ni in sulphide ore. Nickel West produced 80 kt of nickel in FY 2020. Stage 1 manufacturing of the Kwinana Nickel Refinery is aimed to be 100ktpa nickel sulphate.

On March 17, the AFR reported:

BHP stands down contractors at West Musgrave nickel and copper venture. BHP has stood down round 1 / 4 of the workforce constructing its $1.7 billion West Musgrave nickel and copper venture in Western Australia, however says it stays dedicated to the event, which it acquired when it bought OZ Minerals final 12 months.

BHP’s Nickel West operations

Anglo American [LSX:AAL] (OTCPK:AAUKF)

On February 28, Anglo American announced: “Anglo American completes LNG lower emission fleet…”

On March 4, Anglo American announced: “Annual financial report…”

Built-in Annual Report 2023 – Our enterprise at a look (source)

On March 11, Anglo American announced:

Anglo American PLC/Anglo American Capital PLC (every included with restricted legal responsibility in England) U.S.$15,000,000,000 Euro Medium Time period Notice Programme…

On March 14, Anglo American announced:

Publication of Remaining Phrases. The next Remaining Phrases can be found for viewing: (i) the Remaining Phrases dated 13 March 2024, regarding the Anglo American Capital plc¹ EUR 500,000,000 3.750 per cent…

Eramet [FRA:ERA] (OTCPK:ERMAY)

On March 4, Eramet announced:

Conversion of SLN’s debt to strengthen Eramet’s steadiness sheet. Following discussions during the last weeks, the French State and Eramet have reached an settlement relating to the remedy of SLN’s present debt. This settlement will neutralize SLN’s debt influence on the Group’s consolidated accounts. It consists of the next provisions: The French State and Eramet have collectively determined to transform their present loans to SLN right into a quasi-equity instrument. The French State’s present €320m loans to SLN, at present consolidated as debt within the Group’s accounts, will thus be transformed into quasi-equity, comparable in accounting phrases to fairness in Eramet’s consolidated accounts. Eramet will equally convert the prevailing intra-group debt of €325m utilizing the identical frame-work. This conversion has no influence on the Group’s consolidated accounts however ensures a pari passu remedy of the French State’s and Eramet’s money owed…

Sherritt Worldwide (OTCPK:SHERF)[TSX:S]

No important information for the month.

IGO Restricted [ASX:IGO] (OTC:IIDDY)

No important information for the month.

Nickel 28 Capital Corp. [TSXV:NKL] [GR:3JC]

No information for the month.

Nickel Industries Restricted [ASX:NIC] (OTCPK:NICMF)

On February 29, Nickel Industries Restricted announced:

Annual report for the 12 months ended 31 December 2023…The working revenue of Nickel Industries Restricted and its managed entities (collectively the Group) for the 12 months ended 31 December 2023 after earnings tax was $176,203,376 (31 December 2022: $209,367,610)…

On March 18, Nickel Industries Restricted announced:

Replace on March quarter mining and RKEF operations…Sturdy manufacturing volumes from the Hengjaya Mine continued through the quarter, with greater than 2M moist metric tonnes (WMT) of limonite and saprolite ore mined throughout January and February, equating to an annual run fee over 12M wmt. That is nicely above the goal manufacturing of 10M wmt of ore for 2024…Because of the delayed issuance of Hengjaya Mine’s RKAB Licence and the related implications for the Firm’s ore gross sales volumes and RKEF nickel manufacturing, EDITDA from operations for the March quarter is predicted to be within the vary of US$65M-US$75M (EBITDA from operations within the March 2023 quarter was US$113.2M).

Different nickel producers

Tsingshan Holding Group Co Ltd (personal, Chinese owned stainless steel producer with large nickel mines in Indonesia), First Quantum Minerals [TSX:FM] (OTCPK:FQVLF), Franco-Nevada [TSX:FNV], MMG [HK:1208], South32 [ASX:S32], Lundin Mining [TSX:LUN], Nickel Asia Company [PSE:NIKL], Platinum Group Metals [TSX:PTM] (PLG), Sumitomo Steel Mining Co. (OTCPK:SMMYY).

Nickel juniors

Horizonte Minerals Plc [TSX:HZM] [AIM:HZM]

Horizonte is creating its 100% owned Araguaia Nickel Mission (Araguaia) as Brazil’s subsequent main ferronickel mine.

On March 1, Horizonte Minerals Plc announced:

Horizonte company replace…senior lenders have now agreed to increase the waivers till the twenty ninth March 2024. The Firm will proceed to work carefully with its main shareholders and senior lenders on a full funding answer, focused for the top of Q2 2024…

On March 14, Horizonte Minerals Plc announced: “Araguaia project update.”

On March 28 Horizonte Minerals announced:

HORIZONTE CORPORATE UPDATE…of progress on the refinancing efforts of its 100%-owned Araguaia Nickel Mission (“Araguaia” or the “Project”)… Horizonte estimates the total funding required to finish development and produce the operation to optimistic cashflow is US$567 – 592 million. Along with these prices, the Firm might want to attain a restructuring answer for the group’s present liabilities which as of 15 March 2024 had been ~US$418 million…if it turns into obvious that an interim and/or a totally funded answer is unlikely to be discovered, the Firm must have a look at all potential choices which may embody placing the group’s tasks in care and upkeep, liquidation of property, and or beginning formal administration procedures within the UK in relation to the Firm.

Poseidon Nickel [ASX:POS] (OTC:PSDNF)

On March 13, Poseidon Nickel announced:

Interim monetary report for the six months ended 31 December 2023… The Group held money and money equivalents of $3,003,000 at 31 December 2023 (30 June 2023: $5,701,000). Throughout August 2023 the Firm raised $6 million (earlier than prices of $0.3 million) by a placement of unusual shares to skilled and complicated buyers, with Administrators taking part within the increase…

On March 18, Poseidon Nickel announced: “Binding heads of agreement for the proposed sale of Lake Johnston.” Highlights embody:

• “Poseidon has entered into a Binding Heads of Agreement to divest Lake Johnston to Mineral Resources Limited, subject to certain conditions precedent.
• Terms of the proposed sale are: $1 million non-refundable cash payment payable upon execution of Binding Heads of Agreement. A further $14 million in cash, comprising $6.5 million payable on completion of a formal Sale & Purchase Agreement and $7.5 million deferred payment (payable 12 months after completion). 0.75% FOB royalty on lithium minerals and 1.5% net smelter return royalty on all other minerals and metals extracted from the Lake Johnston tenements.
• The $15 million will provide Poseidon with the funding to execute the Company’s strategy which includes an exploration focus targeting high-grade nickel discoveries, continuing with reduced care and maintenance activities at Black Swan (to conserve funds) and pursuing new opportunities.
• The royalties provide exposure to any future lithium or nickel production from Lake Johnston.”

On March 19, Poseidon Nickel announced: “Leadership transition to follow new funding.”

Talon Metals [TSX:TLO] (OTCPK:TLOFF) Tamarack – (JV with Rio Tinto)

Tamarack is a excessive grade nickel-copper-cobalt venture positioned in Minnesota, USA, with appreciable exploration upside. Talon Metals owns a 51% venture share, with potential to additional earn-in to a 60% share by 2026.

On March 20, Talon Metals announced: “Talon Metals reports 12.7 meter intercept outside of the resource area assaying 7.5% nickel equivalent.”

Garibaldi Sources [TSXV:GGI] [GR:RQM] [LN:OUX6] (OTCPK:GGIFF)

No information for the month.

St George Mining Ltd. [ASX:SGQ] [GR:SOG]

The Cathedrals, Stricklands and Investigators nickel-copper discoveries (at Mt Alexander) are positioned on E29/638, which is held in three way partnership by Western Areas Restricted (25%) and St George (75%). St George is the Supervisor of the Mission with Western Areas retaining a 25% non-contributing curiosity within the Mission (in regard to E29/638 solely) till there’s a determination to mine.

On March 12, St George Mining reported: “Half yearly report for the half year ended 31 December 2023…”

Queensland Pacific Metals [ASX:QPM]

On March 14, Queensland Pacific Metals announced: “Consolidated financial report for the half‐year ended 31 December 2023…”

Premium Nickel Sources Company [TSXV:PNRL](OTCQX:PNRLF)

On March 5, Premium Nickel Sources Company announced: “Premium Nickel reports down plunge extension of Selebi North massive sulphide mineralization.” Highlights embody:

• “SNUG-23-017 (drilled 180 metres down plunge and outside of the South Limb historic resource): 18.15 metres of 2.25% NiEq (1.27% Ni; 1.65% Cu; 0.06% Co) incl. 6.25 metres of 3.28% NiEq (2.34% Ni; 1.40% Cu; 0.11% Co) and 3.50 metres of 3.31% NiEq (1.06% Ni; 4.08% Cu; 0.05% Co).
• SNUG-24-089: Drilled 403 metres down-plunge and outside of the South Limb historic resource intersected massive sulphide mineralization (assays pending).”

Canada Nickel Firm [TSXV:CNC](OTCQX:CNIKF)

On March 18, Canada Nickel Firm announced: “Canada Nickel makes new discovery at Newmarket property, achieves best drill results at Reid to date and announces Grant of Options and RSUs.” Highlights

• “First two holes at Newmarket successfully intersect target mineralization including 373 metres of 0.24% nickel in NEW24-01.
• Best interval to date at first hole at Reid – 675 metres of 0.25% nickel including 142 metres of 0.32% nickel and 24 metres of 0.40% nickel in REI24-17.
• First five holes at Reid each intersect over 650 metres of target mineralization within an 800-metre-thick ultramafic sequence – approximately 2 times thicker than Crawford’s Main zone.”

Ardea Sources [ASX:ARL] (OTCPK:ARRRF)

In complete, Ardea has 6.1Mt of contained nickel and 386,000t of contained cobalt at their KNP Mission close to Kalgoorlie in Western Australia. Ardea can also be exploring for gold and nickel sulphide on their >5,100 km2 of 100% managed tenements within the Japanese Goldfields area of Western Australia.

On February 29, Ardea Sources announced: “Ardea and Japanese Consortium: Update on progress on KNP – Goongarrie Hub.” Highlights embody:

• “Ardea and a consortium (Consortium) consisting of Sumitomo Metal Mining(SMM) and Mitsubishi Corporation [MC] have reached agreement on the Kalgoorlie Nickel Project – Goongarrie Hub Definitive Feasibility Study [DFS] service provider scope and budget, subject to further discussion and reaching agreement on binding Final Agreements.
• After extensive technical and commercial due diligence, the Consortium has advised Ardea that they have completed their due diligence.
• Ardea and the Consortium will continue discussions to agree on binding Final Agreements, aiming to be finalised and executed by 31 March 2024.
• Upon execution of Final Agreements, future work will be aimed at completing the DFS, making a Final Investment Decision [FID] and securing project development funding for the Goongarrie Hub to become a globally significant producer of nickel-cobalt.”

On March 12, Ardea Sources announced:

Interim monetary report half-year ended 31 December 2023…The KNP world Mineral Useful resource Estimate (utilizing a 0.5% Ni cut-off grade) stands at 854Mt at 0.71% Ni and 0.045% Co for six.1Mt of contained nickel and 386kt of contained cobalt…

On March 27, Ardea Sources announced: “Ardea and Japanese Consortium:update on progress on KNP – Goongarrie Hub.” Highlights embody:

• Ardea continues to make progress with a consortium (Consortium) consisting of Sumitomo Steel Mining (SMM) and Mitsubishi Company [MC] in negotiating the phrases and situations of binding Remaining Agreements.
• Negotiations have been primarily targeted on the phrases and situations of a Cooperation Settlement, being the principal Remaining Settlement.
• Topic to settlement and execution, the Cooperation Settlement will embody phrases and situations regarding the Consortium sole funding the Kalgoorlie Nickel Mission – Goongarrie Hub Definitive Feasibility Research (DFS), endeavor the DFS and associated improvement actions.
• Ardea and the Consortium have agreed to increase the interval for negotiating the Cooperation Settlement to April 2024.”

Centaurus Metals Restricted [ASX:CTM] (OTCQX:CTTZF)

Centaurus Metals is an Australian-based minerals exploration company focused on the near-term development of the Jaguar Nickel Sulphide Project, in Northern Brazil.

On March 1, Centaurus Metals Restricted announced:

Centaurus reshapes Jaguar DFS to focus on concentrate project in response to changed nickel market conditions. Downstream refinery to be deferred, reducing CAPEX and execution risk to better suit the current environment…

On March 26, Centaurus Metals Restricted announced:

Jaguar Nickel Sulphide Project’s class-leading carbon footprint credentials independently reconfirmed. New independent ESG assessment confirms Jaguar’s credentials as a world-leading, low-emission nickel project…

Alliance Nickel [ASX:AXN] (formerly GME Resources)

No information for the month.

Widgie Nickel [ASX:WIN]

On March 7, Widgie Nickel announced: “Standalone Mt Edwards Mission scoping research highlights nickel potential.” Highlights embody:

• “Compelling case for a standalone concentrator delivers: Low working prices. Larger payabilities. Demonstrates the advantages of management of our personal built-in mining and milling course of.
• Widgie’s Useful resource base in a position to provide regular state sustainable manufacturing profile: Manufacturing fee of ~800,000tpa. Total 77% of fabric exploited in excessive confidence Indicated Useful resource class. 7 additional Sources out there to be exploited not contemplated by this Research
• Scoping Research assesses an 800ktpa standalone nickel concentrator producing 103,000tpa @10.1% Ni focus for 10,380t of contained nickel each year.
• Alternatives to contemplate downstream processing to enhance viability now in a position to be thought of….

….The calculated NPV at an 8% low cost fee for the Mission is AUD$197.4M and inside fee of return of twenty-two.9%.” (assumes Nickel selling at US$24,000/t, CapEx AUD433m, C1 cash cost of US$5.39/lb, 94 month mine life).

On March 12, Widgie Nickel announced:

Half-year report for the 6 months ended 31 December 2023…Available cash and term deposits on hand as of 31 December 2023 totalled A$2.58 million…

Sama Sources [TSXV: SME] [GR;8RS] (OTCPK:SAMMF)

The Samapleu-Grata Nickel-Copper Project is a 60/40 joint venture between Ivanhoe Electric and Sama Resources.

On March 21, Sama Sources announced: “Sama Sources pronounces outcomes of its new Preliminary Financial Evaluation for the Samapleu-Grata Nickel-Copper Mission, Côte d’Ivoire.” Highlights embody:

• “New PEA Demonstrates the Potential for a 16-12 months Mine Producing Each a Standard 26% Copper Focus and a 13% Nickel Focus, with Related Platinum and Palladium By-Merchandise.
• The Mission Presents a Pre-tax NPV₈ of US$463M and Publish-tax NPV₈ of US$257M with a Publish-tax IRR of twenty-two.3% Along with an Preliminary Capital Value of US$338M.
• Mixture Indicated Mineral Sources of 19.4 Mt of Nickel, Copper, Platinum, Palladium, Gold and Copper represents a 29% Enhance over the 2023 Mineral Useful resource Assertion.
• New PEA Consists of solely the Grata, Most important and Extension Deposits and the Sipilou Sud Laterite Deposit, which along with the Proposed Mine Infrastructure Covers Roughly 3% of the 835 km² Mission Space.
• Identified Mineralized Zones at Yepleu and Draba Present Upside Enlargement Alternatives, Along with the Greater than 10 Recognized Sectors for Additional Exploration Throughout the Mission.
• Ivanhoe Electrical Completes Earn-In and Acquires 60% of the Mission.”

On March 25, Sama Sources announced:

Ivanhoe Electric announces completion of earn-in to acquire a 60% interest in the Samapleu-Grata Nickel-Copper Project in the Ivory Coast.

Murchison Minerals [TSXV:MUR] (OTCQB:MURMF)

No information for the month.

Energy Nickel [TSXV:PNPN] (CMETF)

No nickel associated information for the month.

The Metals Firm (TMC)

On March 13, The Metals Firm announced:

TMC commends U.S. congress on Invoice to “Present monetary, diplomatic, or different types of assist for seafloor nodule assortment, processing and refining” and advancing international regulations for Seafloor Resources…

On March 14, The Metals Firm announced:

TMC applauds ~350 former U.S. Political and Military Leaders urging senate to ratify law of the sea for deep-sea mine sites “Every containing a trillion {dollars} in worth…”

On March 25, The Metals Firm announced: “TMC pronounces fourth quarter and full 12 months 2023 outcomes.”

Different juniors

Artemis Sources [ASV:ARV], Australian Mines [ASX:AUZ], Azure Minerals [ASX:AZS] (OTCPK:AZRMF), Blackstone Minerals [ASX:BSX], Cassini Sources [ASX: CZI], Class 1 Nickel and Applied sciences Ltd. [CSE:NICO] (OTCQB:NICLF), Electra Battery Supplies [TSXV:ELBM] (ELBMF), Electrical Royalties [TSXV:ELEC], EV Nickel [TSXV:EVNI] (OTCPK:EVNIF), Flying Nickel Mining Corp. [TSXV:FLYN], FPX Nickel [TSXV:FPX], Grid Metals Corp [TSXV:GRDM], Go Metals [CSE:GOCO] (OTCPK:GOCOF), Huntsman Exploration [TSXV:HMAN] (OTCPK:BBBMF), Inomin Mines [TSXV:MINE], Jervois World Restricted [ASX:JRV] (OTCQB:JRVMF), New Age Metals [TXV:NAM], Nickel Creek Platinum [TSX:NCP] (OTCQX:NCPCF), Nordic Nickel Limited [ASX:NNL], Pancontinental Resources Corporation [TSXV:PUC], Polymet Mining [TSX:POM], Renforth Resources [CSE:RFR] (OTCQB:RFHRF), Rox Sources [ASX:RXL], S2 Sources (ASX:S2R), Stillwater Essential Minerals [TSXV:PGE] (OTCQB:PGEZF), Dawn Vitality Metals [ASX:SRL] (OTCQX:SREMF), Surge Battery Metals Inc. [TSXV:NILI] [FRA:DJ5C] (OTCQX:NILIF), Talisman Mining Ltd. [ASX:TLM], Tartisan Nickel Corp. [CSE:TN] (OTCQB:TTSRF), Transition Metals [TSXV:XTM], URU Metals Ltd. [LSE:URU] [GR:NVRA], Wall Bridge Mining [TSX:WM], and ZEB Nickel Corp. [TSXV:ZBNI] (OTCQB:ZBNIF).

Note: Some of the above companies are covered in the Cobalt monthly news.

Nickel miners ETF

Under is the Sprott Nickel Miners ETF. You may view the highest holdings here.

Sprott Nickel Miners ETF (NIKL) – One 12 months worth chart – Value = US$12.76

Conclusion

Nickel spot prices were lower the last month.

Highlights for the month were:

• Macquarie – Nickel market surplus just 36,000t this year. The nickel market’s supply overhang is not as significant as previously assessed.
• Nickel prices may soon recover from Indonesia-induced slump.
• Indonesia is working to accelerate the approval process for miners, but unpaid royalties by niners is slowing the process.
• Vale to build another $2B HPAL plant in Indonesia, minister says.
• Glencore’s profits halved in 2023 due to weaker energy and metals prices and production.
• BHP has stood down around a quarter of the workforce building its $1.7 billion West Musgrave nickel and copper project in Western Australia.
• Eramet – Agreement will neutralize SLN’s debt impact on the Group’s consolidated accounts.
• Horizonte Minerals will continue to work closely with its major shareholders and senior lenders on a full funding solution, targeted for the end of Q2 2024. If unable to achieve funding one potential outcome is starting formal administration procedures in the UK.
• Poseidon Nickel announced binding heads of agreement for the proposed sale of Lake Johnston to Mineral Resources.
• Talon Metals reports 12.7m intercept outside of the resource area assaying 7.5% nickel equivalent at Tamarack.
• Premium Nickel Resources Corp. drills 18.15m of 2.25% NiEq. at Selebi North.
• Canada Nickel makes new discovery at Newmarket property, achieves best drill results at Reid to date of 675m at 0.25% nickel.
• Ardea Resources and the Japanese Consortium will continue discussions to agree on binding Final Agreements….target to complete in April 2024.
• Centaurus Metals reshapes Jaguar DFS to focus on concentrate project in response to changed nickel market conditions. Downstream refinery to be deferred, reducing CAPEX and execution risk.
• Widgie Nickel Standalone Mt Edwards Project scoping study highlights nickel potential. NPV8% is AUD$197.4M and IRR is 22.9%.
• Sama Resources reports Samapleu-Grata Nickel-Copper Project PEA Post-tax NPV₈ of US$257M, Post-tax IRR of 22.3%, Initial CapEx US$338M. Ivanhoe Electric announces completion of earn-in to acquire a 60% interest in the Samapleu-Grata Nickel-Copper Project in the Ivory Coast.
• TMC commends U.S. Congress on Bill to “Present monetary, diplomatic, or different types of assist for seafloor nodule assortment, processing and refining”.

As common all feedback are welcome.

Editor’s Notice: This text discusses a number of securities that don’t commerce on a significant U.S. alternate. Please concentrate on the dangers related to these shares.