Vale Metals appoints mining veteran Shaun Usmar as CEO
MINING.COM » Nickel
by Cecilia Jamasmie
2h ago
Vale Base Metals (VBM), a Canada-based miner created in 2023 when Vale (NYSE: VALE) spun out its metals business, has appointed mining veteran Shaun Usmar as its new chief executive officer.  Usmar brings over 30 years of experience in the industry, being until today the founder and CEO of Triple Flag Precious Metals (TSX, NYSE: TFPM), a Toronto-based streaming company. He will be succeeded by Sheldon Vaderkooy, the current chief financial officer. From 2014 to 2016, Usmar served as Barrick Gold’s (TSX: ABX) (NYSE: GOLD) CFO and also held earlier positions at Xstrata and BHP (AS ..read more
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Vale to open new copper-nickel mine in Ontario
MINING.COM » Nickel
by Canadian Mining Journal Staff
17h ago
Vale Base Metals is set to open a new open pit mine at the historic Stobie mine site in Sudbury, Ontario. This project is expected to cost C$205 million ($149m) over the next four years. The new Stobie mine will produce nickel and copper, with an initial production target of 300,000 tonnes nickel and copper this year, ramping up to 1.5 million tonnes annually by 2025, continuing until 2027 or 2028. The project will also yield valuable by-products such as cobalt and precious metals. Gord Gilpin, director of Ontario operations for Vale Base Metals, highlighted the significance of this ventu ..read more
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Anglo American shrinks trading unit as part of major restructuring
MINING.COM » Nickel
by Amanda Stutt
17h ago
Mining giant Anglo American Plc is shrinking its trading operations as part of a restructure unveiled as it fought off a bid from rival BHP Group Ltd. earlier this year. Around 10 people in Anglo American’s London and Singapore offices have left the firm in recent weeks as their roles have been cut, according to people familiar with the matter. The departures include head of metals origination Sebastian Castelli and head of structured origination Mark Sainsbury. The miner also announced internally that it will no longer enter into long-term deals to buy commodities that it doesn’t already prod ..read more
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Indonesia launches nickel, tin online tracking system
MINING.COM » Nickel
by Jackson Chen
1d ago
Indonesia launched on Monday an online system to track movements of nickel and tin from mines to domestic processing facilities to improve accountability and government revenue, authorities said. The system, known as SIMBARA, was first implemented in 2022 to track coal, with a plan to widen its use to other minerals. Indonesia is the world’s biggest exporter of coal. It is the top global producer of nickel, and one of the largest producers of tin. Speaking at the launch, Finance Minister Sri Mulyani Indrawati said the system had improved governance in the coal sector, including by forcing comp ..read more
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Western miners push for higher metals prices to ward off Chinese rivals
MINING.COM » Nickel
by Jackson Chen
1d ago
The only US cobalt mine sits fallow in the northern Idaho woods, a mothballed hunk of steel and dirt that is too expensive for its owner to operate because Chinese rivals have flooded global markets with cheap supplies of the bluish metal used in electric vehicle batteries and electronics. Jervois Global, which dug the mine into the side of a nearly 8,000-foot (2,400-meter) mountain, watched helplessly last year as cobalt prices plunged after China’s CMOC Group opened the Kisanfu mine in the Democratic Republic of Congo, pushing global production of the metal to an all-time high. The ..read more
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South32 tumbles after $818 million alumina, nickel writedown
MINING.COM » Nickel
by Jackson Chen
1d ago
South32 Ltd. shares fell sharply on Monday after the Australian miner reported $818 million of impairment charges. The company’s shares tumbled as much as 12.9% in Sydney, the biggest intraday decline since March 2020. It announced a pre-tax writedown of $554 million on the value of its Worsley alumina asset, while the value of its Cerro Matoso nickel project in Colombia was reduced by $264 million. Worsley includes the Boddington bauxite mining and alumina refining project southwest of Perth. While two weeks ago South32 received environmental approval to expand its life for a further 15 years ..read more
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Saudi Arabia to visit Brazil and Chile as seeks to diversify mining
MINING.COM » Nickel
by Jackson Chen
2d ago
Saudi Arabia’s mining minister will visit Brazil and Chile over the coming two weeks, the ministry said on Sunday, as the world’s leading oil exporter seeks to expand its international presence in mining. In Brazil, talks will cover mining, food processing, and aviation, while in Chile the focus is on lithium, needed for electric vehicle batteries. “This aligns with the Kingdom’s direction towards expanding the production of EVs,” a Saudi government statement said. Saudi Minister of Industry and Mineral Resources Bandar Alkhorayaf will land in Brazil on Monday and leave for Chile, the world’s ..read more
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Nornickel weighs projects in new top market China
MINING.COM » Nickel
by Jackson Chen
5d ago
Russia’s biggest miner MMC Norilsk Nickel PJSC is weighing several new projects in copper, nickel and palladium in China as sanctions make cross-border payments and shipments increasingly difficult. Nornickel executives held talks with potential Chinese partners this month and signed about ten memorandums of understanding, covering the whole group of metals the miner makes, two people familiar with situation said, asking not to be identified as the information is private. While Nornickel has not been directly sanctioned by either the US or the European Union, its operations have been impacted ..read more
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US has second-longest mine development timeline in the world, S&P Global says
MINING.COM » Nickel
by MINING.COM Staff Writer
5d ago
According to a new report by S&P Global, the United States has the second-longest lead times in the world for developing a new mine. Mines in the US go from discovery to production in an average of 29 years, longer than in any other country except Zambia (34 years), the consultancy says. “The long US lead times stand in contrast to the country’s sizeable resource base. The US copper endowment (more than 275 million tonnes in reserves and resources) is comparable to those of Canada and Australia combined and sufficient to satisfy domestic demand for the foreseeable future,” the report read ..read more
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Boyd, Roosen, Quartermain: It takes grit, invention, luck to make the big time
MINING.COM » Nickel
by Amanda Stutt
6d ago
Perseverance, a focus on geology and financial discipline and some good breaks are what’s needed to make a mining titan, some of the industry’s leaders told a conference put on by former Sprott CEO Rick Rule in Florida last week. Industry legends including Canadian mining luminary Robert Quartermain, Agnico Eagle Mines (TSX: AEM; NYSE: AEM) chair Sean Boyd, Osisko Development (TSXV: ODV; NYSE: ODV) chair and CEO Sean Roosen, and Vizsla Copper (TSXV: VCU; US-OTC: VCUFF) CEO Craig Parry discussed the backstories on their multibillion-dollar successes. “Persistence and tenacity are everything in ..read more
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