[SMM Nickel Market Flash] Glencore Hits First Ore at Onaping Depth in Sudbury; Full Production Targeted for 2027

Canada Nickel (TSXV: CNC) said on August 12 it had upsized a non-brokered private placement from C$15m to gross proceeds of up to C$21m on strong investor demand, comprising up to 14m units at C$1.50, each with one share and half a warrant exercisable at C$2.25 for 36 months. Proceeds are earmarked for permitting and engineering work, repayment of outstanding debt and working capital, supporting detailed engineering and long-lead equipment orders for the Crawford nickel-cobalt sulphide project in Ontario's Timmins district. The raise follows the federal decision statement Crawford received under Canada's amended Impact Assessment Act. SMM said the sum is small against Crawford's roughly US$2bn capital need, and covers pre-build work rather than construction itself.

Indonesian state miner PT Aneka Tambang (IDX: ANTM) posted H1 2026 net profit of Rp6.91tn (~US$435m), up 34% YoY, with EBITDA up 35% to Rp9.62tn and operating profit up 38% to Rp8.44tn, per its exchange filing dated August 29. Net revenue rose 6% to Rp62.71tn, of which gold contributed 80% at Rp50.39tn. The nickel division grew faster in percentage terms: ferronickel and nickel ore sales rose 32% to Rp10.41tn, or 17% of group revenue. Antam produced 7.78m wmt of nickel ore and delivered 6.77m wmt to regional smelters, while ferronickel output reached 7,788 t Ni contained. Cash and equivalents stood at Rp9.23tn.

【SMM Nickel Flash】August 28 — Price gaps across nickel‑point grades of NPI keep narrowing, and the premium spread between high‑ and low‑nickel‑point materials has been squeezed. Spot transactions remain sluggish. Some suppliers offer cargoes at lower levels yet face slow sales, with limited volumes of physical deals closed. Certain sellers still hold relatively high asking prices, creating a notable mismatch against price levels acceptable to downstream buyers.