Nickel prices have rebounded after dropping to a near seven-year low last week, buoyed by market speculation that heavily indebted miner and trader Glencore Plc could curb output following cuts to its copper and zinc production.
Nickel miner Western Areas will defer nearly A$32.6-million in capital expenditure from 2016 to 2017 as it battles the sustained decline in nickel prices.
TSX- and NYSE MKT-listed PolyMet Mining has received the first tranche of $6-million under a $30-million loan facility due on March 31, 2016, giving the project developer about $10.3-million working capital to advance its NorthMet copper/nickel/precious metals...
ASX-listed Western Areas has completed the A$24.5-million acquisition of the Cosmos nickel complex from diversified miner Glencore’s Xstrata Nickel Australasia Operations subsidiary.
Glencore said on Tuesday it was strong enough to ride out current volatility in commodity market, helping to lift the mining group’s shares by a fifth.