Benchmarking Analysis of the Development Direction of MHP and Nickel Matte

Benchmarking Analysis Of the Development  Direction Of MHP And Nickel Matte

Technical Due Diligence Survey of Nickel Product Unit

Technical Due Diligence Survey Of Nickel Product Unit

Long-term Price Forecast of Nickel Industry

Long-term Price Forecast Of Nickel Industry

Feasibility Study of Nickel Industry Investment

Feasibility Study Of Nickel Industry Investment

Indonesia Ni Industry Analysis 

Home

Metal News

First Quantum Minerals Likes Copper, Seeks Nickel

Li-ion Battery Americas 2024

2024 SMM (19th) Aluminium Conference & the First Aluminium Industry Expo

CLNB 2024 9TH CHINA NEW ENERGY EXPO

Indonesia Nickel & Cobalt & EV Industry Conference 2024

ASEAN Tin Industry Conference 2024

ASEAN Coal Industry Conference 2024

ASEAN Aluminium Industry Conference 2024

2024 ASEAN Automotive Supply Chain

2024 Global Renewable Metal Industry Chain Summit

2nd Li-ion Battery Europe 2024

Anglo Restarts Chile Copper Mines After Quake

TORONTO, March 1 (Reuters) - With few copper assets available for acquisition, First Quantum Minerals (FM.TO) is looking to add to its growing nickel asset base and sees plenty of available targets, the Canadian miner said on Monday.
First Quantum recently closed its acquisition of the Ravensthorpe nickel mine in Australia from BHP Billiton (BLT.L) and said in December it plans to build the Kevitsa nickel and copper mine in Finland. These moves will turn the mid-tier copper miner into a notable nickel producer over the next few years.
And more deals could be on the way, First Quantum President Clive Newall said at a mining conference in Florida, due to number of attractive nickel assets on the block.
&quot;If we could continue to find copper ore bodies we'd do that, because we are the most bullish about copper of any commodity, but so's everybody else, so everybody's competing for the same thing,&quot; he said.
&quot;So we're looking for opportunities where we can produce other... base metals at low costs, and there are a number of nickel projects that fit that bill right now.&quot;
While nickel prices have more than doubled from the three-year lows hit in late 2008, analysts still see a glut of the metal on the market. This has prompted some companies to put projects on hold and others -- BHP, notably -- to sell off assets.
Vancouver-based First Quantum currently produces from three mines in central and west Africa, and expects to be producing about 500,000 tonnes of copper a year by 2011.
However, that production growth profile could change due to the suspension of the company's Kolwezi copper tailings project in the Democratic Republic of Congo.
The DRC government pulled the permit for the project last year and First Quantum, which holds a 65 percent stake in the $550 million project, is now seeking international arbitration.
Kolwezi is 75-percent built and was to have come online this May. The suspension has not yet had a large impact on the production timeline as construction typically comes to a halt during the summer rainy season.
But Newall said a delay past April could force First Quantum to alter the timeline.
&quot;It's a very serious situation,&quot; he said.
&quot;We are continuing to seek a solution, but the arbitration will take its course.&quot;
The company's shares fell by C$1.65 to C$80.35 on the Toronto Stock Exchange on Monday.
($1=$1.04 Canadian) 
&nbsp;

Aluminum Spot Inventories in China on March 1st 

First Quantum Minerals Likes Copper, Seeks Nickel | Shanghai Non ferrous Metals

First Quantum Minerals Likes Copper, Seeks Nickel

SMM Events & Webinars

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit

2024 ASEAN Automotive Supply Chain