More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm
More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm. His forecast is great news for those juniors with large nickel deposits awaiting development, such as the Jaguar project just acquired by Centaurus from Brazilian giant Vale. Plus, Venturex’s $100m debt deal sets it up to become one of the few ASX-listed copper producers.
The display of oomph at last week’s Diggers & Dealers conference in Kalgoorlie was not restricted to the gold stocks.
Global financial wobbles reinforced the case for gold this week
Global financial wobbles reinforced the case for gold this week but the uncertainty factor caused by the US sharemarket shake-out put a dampener on most sectors of the market and only a handful of gold miners managed to post gains while just about everything else fell.
Surprise star of the week was Dacian Gold, a stock that some investors had written off weeks ago after operational problems at its Mt Morgans mine. It added 14c to $1.26, taking its gain since early June to 87c and putting it within sight of its pre-sell off price of $1.59.
Electric vehicles, and the wider battery revolution, is held up as a massive opportunity for nickel, tin, graphite and lithium players, and now a new report shines a light on how much copper will be needed: 250% more by 2030.
Wood Mackenzie forecasts that over 20 million EV charging points could to be deployed over the next needed, and that means the world needs to produce around 2.5 times more copper by 2030 than it will this year - and that means a lot of money needs to be spent to find and produce it.
Pilbara Minerals boss Ken Brinsden says the company will tailor its growth plans to match lithium demand
Pilbara Minerals boss Ken Brinsden says the company will tailor its growth plans to match lithium demand (reports MiningNews).
An oversupply situation has emerged in the spodumene sector, and Pilbara's Pilgangoora mine in the Pilbara hasn't been immune.
Brinsden told reporters at Diggers & Dealers that while chemical converters couldn't ramp up soon enough, changing battery chemistries meant China had fallen behind.
"They tinkered with the industry to try and incentivise new technology in lithium-ion batteries," he said.
Mincor Resources has signed a long-term agreement with mining giant BHP to supply nickel concentrate (reports The West Australian).
BHP’s Nickel West division will process up to 600,000 tonnes a year of nickel sulphide at its Kalgoorlie smelter out to 2025 once Mincor has restarted its operations in December.
The gold price took a knock yesterday when the US central bank delivered half the interest rate cut investors wanted, with the sliding share prices that followed a warning shot for investors making the trek to next week’s Diggers and Dealers conference in Kalgoorlie.
The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs
The new field season in WA’s Paterson province has brought fresh exploration impetus, with Rio firing up 11 rigs while nearby juniors Sipa and Antipa are planning holes of their own. Plus, Sandfire-backed White Rock offers investors two projects for the price of one.
Exploration in Western Australia’s remote Paterson province is heating up as was expected following Rio Tinto’s belated confirmation in February that its Winu copper-gold discovery was indeed something special.
Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors
Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors, while two industry leaders, BHP and Rio Tinto, paid a heavy price for annoying their supporters.
On a “follow-the-money” basis, it was hard to overlook the flow of funds into two emerging rare earth companies, Arafura and Northern Minerals, which attracted $30 million and $23.2 million respectively to advance their projects.