vale nickel news

By Olivier Masson. The Goro operation includes a mine, processing facility and port, located on New Caledonia, a French territory which is a top nickel producing region globally. VNC represents a significant contributor of battery-grade nickel intermediates to the market, especially since the plant’s refinery was closed in early 2020 and focus shifted exclusively to nickel intermediates. AFP - FRED PAYET. Author of the article: Reuters. Bloomberg News reports Vale suffered the first quarterly loss since late 2015 as the company set aside funds to cover damages, legal costs and other obligations related to the dam disaster that left hundreds dead in January. .cls-1{fill:#333333;}icon-linkedin, Nickel: Vale agrees to sale of Vale Nouvelle Calédonie. The nickel price ticked up modestly this morning as a reports that Brazilian miner Vale is in talks with Tesla (NASDAQ:TSLA) about a secure supply of nickel.Nickel is one of the key components that Tesla uses in the manufacture of batteries for its electric vehicles, and in recent months there has been concern about possible bottlenecks in supply. © 2021 Glacier Media Group, All Rights Reserved, exit operations in New Caledonia in December, cut in April its 2020 nickel production guidance, revealed it had received non-binding offers for VNC, London trader Stratton to sell First Cobalt’s refinery output in 5-yr deal, Teck guilty of Fisheries violations in BC, fined $47m, Newest battery metal IPO taps rising interest in the deep sea, New Age Metals stock surges on new Sprott investment, First Cobalt to issue shares to Glencore to repay $5.5m debt, Canada tightens takeover rules for critical minerals. The company, which began nickel smelting in 2010, is the local subsidiary of the Brazilian corporation Vale, one of the largest mining companies in the world with interests in logistics, transport, energy and steel making. Vale Nouvelle Calédonie (VNC), which includes the Goro mine, a processing plant and the port of Prony, proved a financial burden for Vale since it began operations two years behind schedule in 2010. The timing of this deal couldn’t be better. Bnamericas Published: Thursday, February 25, 2021 . The sales of Vale’s stake in the Goro operation was entrusted to the Rothschild bank who relied on two key elements to attract investors: the world class Goro nickel ore deposit and a new, simpler business model that should enable the factory to stop losing money. →, Home / News / Nickel: Vale agrees to sale of Vale Nouvelle Calédonie, Posted 10th December 2020 in  Industry news. The Vale nickel company in New Caledonia says three bids are in to buy the 95 percent stake put up for sale by Vale of Brazil. Vale and Tesla did not immediately respond to requests for comment. Vale had previously tried to sell a stake in the plant when it was operating both the intermediate and refining stages, but failed to do so. Join Roskill’s free webinar for the latest trends and insights on steel and its alloys. Headquartered in Brazil and present in about 30 countries, we employ approximately 125,000 people between direct employees and permanent contractors. Under the deal, First Cobalt will have the option to sell up to 100% of its annual cobalt sulfate to Stratton. This article was written by Olivier Masson. Business Wire News Releases; Tesla boss Musk's desire for more nickel could be a non-starter . Responding to this, Deputy CEO of PT Vale Indonesia, Febriany Eddy, said that this did not […] Click here for the full list of Roskill commodity reports. Our website uses cookies to ensure that we give you the best experience on our website. Environmental conflict Legal issues / Legal Advice ESG Nickel Commodities Iron … Please get in touch below if you wish to discuss further: 54 Russell Road, Wimbledon, London, SW19 1QL, United Kingdom, Brazil, Canada, China, Germany, India, Japan, Mexico, New Zealand, Slovakia, South Africa, .cls-1{fill:#333333;}icon-twitter (. Vale SA (NYSE:VALE) Vale plans a US$1.7B Voisey's Bay expansion plan to boost their nickel production. The Goro nickel plant in southern New Caledonia, sold on December 9, 2020 by the Brazilian Vale. Find the latest VALE S.A. (VALE) stock quote, history, news and other vital information to help you with your stock trading and investing. While the mine has the capacity to produce 60,000 tpy of nickel in the form of nickel oxide, it has never performed to full capacity due to design flaws and operational commissioning issues. New Century Resources (ASX: NCZ) and Vale (NYSE: VALE) have delayed the deadline for closing the sale of the Brazilian miner’s nickel and cobalt operations on the Pacific island of New Caledonia by 45 days. Vale cut in April its 2020 nickel production guidance to 200,000 – 210-000 tonnes per year from 240,000 tpy to account for the anticipated loss of VNC’s 60,000-tpy output. The Melbourne-based miner noted if the transaction goes through, it would become a major supplier of nickel and cobalt sourced from outside the Democratic Republic of Congo. Investor interest in deep sea minerals is rising ahead of an mining code of conduct that’s expected to be concluded this year by the International Seabed Authority. The operators of the Vale nickel mine in Thompson, Man., are hoping a $1-billion investment could extend the mine's life span by 25 to 30 years. A few days earlier, there had been another twist in the sale process, as Korea Zinc announced that it was withdrawing from a rival bid that had allied the company with Sofinor. Tesla boss Elon Musk recently announced the company was searching for sustainable nickel supply for the batteries that power its electric vehicles (EVs). New Caledonia Agrees to Vale Nickel Mine Sale, Tesla to Be Partner By Reuters , Wire Service Content March 4, 2021 By Reuters , Wire Service Content March 4, 2021, at 11:06 a.m. On the bright side for Sudbury, however, the company remains cautiously optimistic about the demand and price for nickel. Proceeds will be used for a prefeasibility study on the River Valley PGM project in Ontario. The Brazilian group Vale announced this Wednesday, December 9 the sale of its nickel plant in New Caledonia to a Caledonian and international consortium, including the Swiss raw materials giant Trafigura. Vale, the world's largest nickel producer, with operations in Brazil, Canada and Indonesia as well as the southwest Pacific territory of New Caledonia, produced 208,000 mt of finished nickel in 2019. Vale New Caledonia (VNC) nickel operation Report summary Vale New Caledonia (VNC) has been plagued by capital cost over runs, start up delays and operations issues since commencing production in … Vale is a global mining company, transforming natural resources into prosperity and sustainable development. Vale nickel unit faces new controversies . Headquartered in Brazil and present in about 30 countries, we employ approximately 110,000 people between direct employees and permanent contractors. VALE is the largest nickel producer in the entire world, with Tesla constantly calling for more Nickel production, the partnership potential for these two companies is a match made in heaven. (Adds Vale reaction, background) PARIS, March 4 (Reuters) - Political leaders in New Caledonia on Thursday agreed new terms for the sale of Vale's nickel business, including a majority stakeholding for local interests, seeking to resolve unrest over the planned sale. The Australian zinc producer entered into a 60-day exclusivity agreement to acquire a 95% stake in Vale Nouvelle Calédonie (VNC), the operator of the troubled Goro nickel-cobalt mine in the French territory on May 26. Unions in New Caledonia fear that the Vale nickel plant could close within half a year and trigger the biggest wave of job losses the territory has ever seen. Hard and malleable, nickel resists corrosion and maintains its mechanical and physical properties even when subjected to extreme temperatures. Vale is also working with Japan's Sumitomo Metal Mining Co Ltd in Pomalaa for a processing plant aiming for 40,000 tonnes a year of nickel output suitable for batteries. Our high-qualitynickelis also valued for its … New Caledonia is the world's fourth-largest nickel producer behind Indonesia, the Philippines and Russia. Shortly after, the miner revealed it had received non-binding offers for VNC, which includes the Goro mine, a processing plant and the port of Prony. The decision came after it had to write down $1.6 billion in the fourth quarter related to the ailing mines, the world’s biggest nickel operation. A photo taken on May 27, 2015 shows Brazilian Vale's nickel processing plant of Goro in southern New Caledonia. The African country is currently the world’s biggest supplier of cobalt for the EV sector. Rising demand from EV batteries and, specifically, demand for battery-grade intermediates such as mixed hydroxide product (MHP) for use in nickel sulphate, means the deal will be significant to the industry over the coming years. Column: Right now, there is too much nickel on the market . VCN has proven a financial burden for Vale since it began operations two years behind schedule in 2010. The lengthy saga of Vale’s sale of its Vale Nouvelle Calédonie (VNC) asset looks almost over as the company has agreed to sell the plant to Prony Resources, a consortium that brings together New Caledonian investors (which hold a 50% stake in the project) with Trafigura (25% stake) and other international investors. Vale are pulling out of New Caledonia by year’s end, threatening 3,000 jobs. Analysts estimate the silvery-white metal could face a shortage as soon as 2023. Although Vale has been in exclusive negotiations with the Prony Resources consortium since early November, pro-independence parties in New Caledonia have been pushing for another bid that includes local group Sofinor and Korea Zinc to be considered, even though it had already been rejected by Vale. News . The lengthy saga of Vale’s sale of its Vale Nouvelle Calédonie (VNC) asset looks almost over as the company has agreed to sell the plant to Prony Resources, a consortium that brings together New Caledonian investors (which hold a 50% stake in the project) with Trafigura (25% stake) and other international investors. New Century said on Tuesday it had made “significant progress” in evaluating the technical and commercial aspects of the transaction, but has not yet completed a definitive binding agreement. The agreement with Prony Resources is subject to regulatory approval and should be finalised in Q1 2021. Brazilian mining giant Vale (NYSE:VALE) said on Wednesday it would hike nickel production by about 70% in coming years to 360,000 tonnes a year, mainly by expanding in Indonesia. For Vale, this finally ends an unhappy foray in New Caledonia. Nickel Company News. As a result of these talks, Vale had agreed to extend the negotiation period (which was supposed to end on 4 December) to facilitate the sale, while the pro-independence groups agreed to lift various blockades that have affected the plant in recent weeks. The company has tried to sell the asset on several occasions, and it had to shut down the refinery and focus on intermediate products for the battery industry to make the plant more attractive to a potential bidder. Roskill’s Nickel: Outlook to 2029 report, 16th Edition and Nickel Sulphate: Outlook to 2029 report, 3rd Edition, both released earlier this year, outline their respective industry trends and forecasts for the next decade amid changes to the global macroeconomic climate. Publishing date: Jul 29, 2020 • July 29, 2020 • 4 minute read • Join the conversation. Text by: RFI Follow . 4 min. Vale cut in April its 2020 nickel production guidance to 200,000 – 210-000 tonnes per year from 240,000 tpy to account for the anticipated loss of VNC’s 60,000-tpy output. Brazilian mining firm Vale plans to exit its nickel operation in New Caledonia in the South Pacific and will announce its final decision in the first half of next year. Teck Coal fined over charges relating to 2012 discharges of selenium and calcite to a mine settling pond and to the Fording River from its Fording River and Greenhills steelmaking coal operations at Elk Valley. Travers also said Vale aimed to increase copper output to 480,000 tonnes by 2023, up 20% from an estimated 400,000 tonnes next year. Vale recently held two round tables with local interests to go over the various options for the site and issues that local people have. Jakarta, CNBC Indonesia – PT Indonesia Morowali Industrial Park (IMIP) has replaced PT Vale Indonesia Tbk (INCO) to become the largest nickel producer in Indonesia since 2018, although in 2014 Vale’s contribution to national nickel metal production reached 77%. Vale is the world’s largest producer of nickel, one of the most versatile metals in existence. On October 28, Vale SA announced:. Dedicated port facilities of the Goro Mine for the import of raw materials and export of nickel products. The Rio de Janeiro-based miner first announced its intention to exit operations in New Caledonia in December. Roskill’s report Nickel: Outlook to 2028, 15th Edition was published in April 2019 and forecasts trends in supply, demand and pricing over the next decade. Las year, Goro churned out just 23,400 tonnes of nickel, slightly over a third of its annual capacity. “The due diligence process has outlined a logical and technically robust solution for Goro’s operation, which is expected to deliver improved production rates and reduced costs,” New Century said. VALE notified creditors on September 14th that it was paying off it’s $5 billion debt, suggesting a large deal leveling them an insane amount of capital. SHANGHAI, Feb 18 (SMM) – Brazilian mining giant Vale said its finished nickel production fell 15% from 2018 to stand at 208,000 mt in 2019, primarily due to reduced feed from third parties, lower source ore from Thompson and VNC, according to a prodcution and sales report of the company. The Goro nickel-cobalt mine complex in New Caledonia has proven a financial burden for Vale since it began operations in 2010. Major miner Vale (NYSE:VALE) hopes to find a partner for the VNC nickel mine in New Caledonia by the end of 2018, company executives said in a conference call on Thursday (April 26). It had held negotiations on a potential sale of VNC with Chinese parties before embarking on exclusive negotiations with NCZ. Even after that, a previous consortium led by New Century Resources had withdrawn its bid. Vale is a global mining company, transforming natural resources into prosperity. Producers. And Tesla did not immediately respond to requests for comment the African country is currently the world s... Exclusive negotiations with NCZ year ’ s biggest supplier of cobalt for the site and issues that local have! Nouvelle Calédonie, Posted 10th December 2020 in Industry News by New Century resources had its! Will be used for a prefeasibility study on the River Valley PGM project in Ontario to of... 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