[SMM Nickel Market Flash] ARM Approves $46M Nkomati Restart, Targeting 56,000 t/y Nickel Concentrate for Boliden

Published: Jul 27, 2026 17:56

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South Africa's African Rainbow Minerals said its board approved a R753 million (about $46 million) restart of the Nkomati open-pit nickel mine in Mpumalanga, the country's only primary nickel operation, which has been on care and maintenance since 2021 on weak prices and rising costs. Plant refurbishment starts in July 2026 with mining due to resume in October, targeting steady-state output of 56,065 tonnes a year of nickel concentrate - a concentrate, not contained-metal, figure. The restart is underpinned by a conditional offtake with Sweden's Boliden, directing units toward European smelting capacity seeking non-Russian supply. ARM took full ownership of Nkomati in July 2025 after Nornickel exited. The board separately approved a R15.2 billion Bokoni PGM redevelopment.

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