Global demand for nickel could grow fourfold over the next few decades, according to the BHP Group, as noted by Bloomberg. In fact, “The world’s biggest miner predicts nine in 10 cars sold by 2040 will be EVs, helping to boost worldwide usage of key battery materials including nickel. The market for nickel is already being transformed as car batteries take over from stainless steel as the major growth market.” Also, consider this. "We anticipate demand for nickel in the next 30 years will be 200% to 300% of the demand in the previous 30 years," said Jess Farrell, BHP's asset president of Nickel West, as quoted by Seeking Alpha. That’s a major catalyst for companies such as Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF), BHP Group (NYSE: BHP), Vale (NYSE: VALE), Sherritt International (TSX:S) (OTC: SHERF), and Nickel 28 Capital Corp. (TSXV: NKL) (OTC: CONXF).
Look at Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF), For Example
- 1.01% Ni, 0.27% Cu, 0.07% Co, 0.88 g/t Palladium, 0.13 g/t Platinum, 0.03 g/t Gold over 14.4m in Hole PN-23-028, including:
- 1.69% Ni, 0.37% Cu, 0.12% Co, 1.59 g/t Palladium, 0.22 g/t Platinum, 0.04 g/t Gold over 7.8m
Power Nickel Inc. just announced the latest results from drill holes PN-23-025, 027 and 028. These three (3) holes successfully expanded the high-grade intersection in drill hole PN-22-009 (1.17% Ni, 0.80% Cu, 0.08% Co, 1.46ppm Pd, 0.23ppm Pt over 25.86m) by 75 metres depth and 150 metres of strike.
Commented Power Nickel CEO, Terry Lynch, "Once again, Nisk is delivering very promising results. Hole 28 is a high-grade nickel hole with robust cobalt and PGM values. The Nisk Main zone has been very cooperative, with each set of assays having large high-grade intercepts as we look to build a commercial resource. All of these assay results will be captured in our new NI 43-101, which we expect to be delivered in Q3. Our Fall and winter campaigns were very productive, and we have one more set of assays to go, and we are excited to see those sometime in Mid-June."
Other related developments from around the markets include:
A new collaboration between BHP and Microsoft has used artificial intelligence and machine learning with the aim of improving copper recovery at the world’s largest copper mine. The use of new digital technology to optimise concentrator performance at BHP’s Escondida operation in Chile is expected to improve copper recovery. BHP Chief Technical Officer Laura Tyler said by augmenting new digital technology capabilities with new ways of working, the team at Escondida is well-positioned to generate more value from an existing resource. “We expect the next big wave in mining to come from the advanced use of digital technologies. As grades decline at existing copper mines and fewer new economic discoveries are made, next-generation technologies like artificial intelligence, machine learning and data analytics will need to be used to unlock more production and value from our existing mines,” she said.
Vale and the French DRI producer GravitHy have signed a Memorandum of Understanding (MoU) to pursue solutions focused on a carbon-neutral steelmaking process by using Vale’s innovative iron ore briquettes technology. Within the scope of the MoU, Vale and GravitHy will jointly evaluate the construction of a plant co-located in GravitHy’s site in Fos-sur-Mer (France) to produce direct reduction briquettes from Vale’s high-quality iron ore feedstock. GravitHy’s first Direct Reduction Iron (DRI) plant is expected to start-up production in 2027 in Fos-sur-Mer. The plant is designed to produce DRI using hydrogen as reductant fuel, reducing substantially carbon emissions in the steelmaking chain when compared to pig iron production through the integrated BF-BOF route. The DRI plant to be built by GravitHy is expected to have 2 Mtpy production capacity and investments of € 2 billion. The company is advancing its engineering and permitting studies, and construction is expected to start in 2024.
Sherritt International, a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition, reported its financial results for the three months ended March 31, 2023. All amounts are in Canadian currency unless otherwise noted. “We are pleased with our continued accomplishments in the first quarter of this year,” said Leon Binedell, President and CEO of Sherritt International. “The effectiveness of the Cobalt Swap was proven with almost 75% of cobalt volume for the year received to date. We expect to receive the entire US$114 million through cobalt and cash distributions by mid-year, and all cash receipts from the sale of cobalt distributions to be received before the end of the year.” Mr. Binedell continued, “In addition, we published our NI 43-101 Technical Report for the Moa JV which more than doubles reserves and extends the life of mine to 26 years. This technical report underpins and validates our long-term strategy for producing low cost, high purity nickel and cobalt.”
Nickel 28 Capital Corp. released its financial results for the financial period ended January 31, 2023. The Company’s Chairman, Anthony Milewski is pleased to announce that “with another strong year of production and sales performance from Ramu, the Company continues to receive significant cash distributions from Ramu. As a result of Ramu’s strong operating results and financial performance, the Company repaid US$21.3 million of its construction debt, which leaves a remaining construction debt balance of US$55.8 million at the end of the fiscal year.” Mr. Milewski continued, “we would once again like to thank our joint venture partner, Metallurgical Corporation of China, for another exceptional year.”
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